INDIA THYROID FUNCTION TEST MARKET ANALYSIS

Market Challenges And Opportunities

India Thyroid Function Test Market – Driver

Increasing prevalence of thyroid disorders

Increasing prevalence of thyroid disorders is expected to propel growth of India thyroid function test market over the forecast period. For instance, according to article published in Indian journal of endocrinology and metabolism in July 2020, reported Thyroid diseases are different from other diseases in terms of their ease of diagnosis, accessibility of medical treatment, and the relative visibility that even a small swelling of the thyroid offers to the treating physician. Population studies have suggested that about 16.7% of adult subjects have anti-thyroid peroxidase (TPO) antibodies and about 12.1% have anti-thyroglobulin (TG) antibodies in India.

Low cost of thyroid function test

Low cost of thyroid function test is expected to aid in growth of the market. For instance, in March 2020, Orchard Healthcare Pvt. Ltd., a medical laboratory in Bengaluru, India, introduced thyroid function test (TFT) used to check how well the thyroid gland is functioning. It is responsible for producing hormones that are very important for many bodily processes. TFT test cost is only US $ 6 (500 Rs)  in Bengaluru which is affordable for patients.

 India Thyroid Function Test Market: Restraint

Thyroid disorders’ asymptomatic form policies

Thyroid disorders’ asymptomatic form policies represent a major restraint on the growth of the India thyroid function test market. Insurance companies are refraining from reimbursing TSH diagnostic tests.

Moreover, the high cost of genetic testing is also expected to limit market growth. The cost of these tests typically ranges from US$ 300 to US$ 3,000 per test and are considered the most important technologies for early detection