INDIA THYROID FUNCTION TEST MARKET ANALYSIS

India Thyroid Function Test MarketSize and Trends

The India Thyroid Function Test market is estimated to be valued at US$  52.1 million in 2023 and is expected to exhibit a CAGR of 4.6% during the forecast period (2023-2030).

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 – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns in India there are  problems with the transportation of tests from one place to another.

However, the COVID-19 pandemic had a positive impact on the India Thyroid Function Test market. For instance, according to article published in Observational studies journal in January 2022, researches patients with COVID-19 had a lower admission TSH and FT4 compared to those without COVID-19. In the COVID-19 patients, with matching baseline thyroid function tests from 2019 (n = 185 for TSH and 104 for FT4), TSH and FT4 both were reduced at admission compared to baseline. In a complete case analysis of COVID-19 patients with TSH measurements.

India Thyroid Function Test Market Segmentation:

The India Thyroid Function Test market report is segmented into by test Type and by end user.

By Test Type, the market is segmented into TSH, T3, T4, FT3, FT4 and Others. Out of which, the TSH segment is expected to hold a dominant position in the India thyroid function test market during the forecast period and this is attributed to the technological advancements in the field of thyroid testing.

By End User, the market is segmented into Clinics, Research Organizations, Diagnostic Laboratories and Hospitals. Out of which, Diagnostic Laboratories segment is expected to hold a dominant position in the India Thyroid Function Test market during the forecast period and this is attributed to the increasing Awareness about thyroid tests.

Among all the segmentations the end user segment has the highest potential due to the increasing prevalence of Thyroid diseases over the forecast period. Thyroid function tests are a series of blood tests used to determine the condition of the thyroid gland, whether it is working properly, and diagnose hyperthyroidism and hypothyroidism.

India Thyroid Function Test Market: Key Trends

Rising alcohol and tobacco consumption, effective government policies can drive market growth

Due to the rising thyroid disorders incidences, rising alcohol and tobacco consumption, effective government policies, the India Thyroid Function Test market is expected to experience considerable expansion in the India. According to the article published in, Indian Journal of endocrinology and metabolism in May 2021, Reported Changes in Smoking, Alcohol Consumption, and the Risk of Thyroid Cancer. It is essential to note that alcohol has a negative effect. Thyroid cancer patients were a little younger (53.4 ± 8.4 years in the thyroid cancer group vs. 55.6 ± 10.0 years in the non-thyroid cancer group) and more were female (77.0% in the thyroid cancer group vs. 48.8% in the non-cancer group). Additionally, there were fewer individuals who reported themselves as moderate to heavy smokers (6.9% vs. 16.8%) and mild to heavy drinkers (30.0% vs. 42.2%) in the thyroid cancer group compared to the non-thyroid cancer group.