India Thyroid Function Test Market, by Test Type (TSH, T3, T4, FT3, FT4 and Others ) and By End user (Clinics, Research Organizations, Diagnostic Laboratories and Hospitals ) 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), as highlighted in a new report published by Coherent Market Insights.
key market players are focused on adopting growth strategies such as thyroid awareness programs, which will drive the India Thyroid Function Test market. For instance, in July 2021 Abbott Laboratories, India’s healthcare company, with partnership with the Indian Thyroid Society (ITS), announced a thyroid awareness initiative in Coastal Andhra Pradesh under its ‘Make India Thyroid Aware’ program. The initiative aims to bring greater understanding of thyroid disorders and their related conditions, and increase access to diagnosis.
India Thyroid Function Test Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a positive impact on the India Thyroid Function Test market. For instance, according to article published in plos one journal in march 2021, Thyroid function analysis in COVID-19: A retrospective study from a single center.The removal of restrictions, the market is expected to grow in the coming years due to the increase in the use of thyroid function testing and the increase in the population of thyroid disorders.
India Thyroid Function Test Market: Key Developments
In June 2020, Beckman Coulter Diagnostics helps healthcare professionals provide better patient care by delivering the accurate diagnostic information. collaborated with the University of California, Irvine (UCI) to access UCI research in innovative diagnostic platforms, life sciences applications, devices, and data analytics.
Browse 26 Market Data Tables and 23 Figures spread through 150 Pages and in-depth TOC on “India Thyroid Function Test Market”- Forecast to 2030, India Thyroid Function Test Market, by Test Type (TSH, T3, T4, FT3, FT4 and Others ) and By End user (Clinics, Research Organizations, Diagnostic Laboratories and Hospitals )
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/india-thyroid-function-test-market-3521
Key Takeaways of the India Thyroid Function Test Market:
- The India Thyroid Function Test market is expected to exhibit a CAGR of 6 % during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the India Thyroid Function Test market. The spread of TSH And other Thyroid test has been driven by high public awareness in developed economies such as the India. However, in developing economies in India, utilization rates are low due to low patient awareness. Economic development in these areas, along with increased patient disposable income and increased awareness, is shifting the attention of physicians to thyroid testing.
- Among End user, the Diagnostic labrotaries segment is expected to grow in the India Thyroid Function Test market over the forecast period. For instance, in January 2022, Quest Diagnostics in clinical diagnostic laborotary launched Comprehensive Health Profile from QuestDirect, the consumer-initiated testing platform. It is designed to meet the needs of individuals who want more visibility into their health data and access to preventive care at their convenience. Consumers have the option such as a PSA screening and thyroid function screening, by upgrading from a standard panel to a Men's or Women's panel.Therefore, with the increasingly widespread adoption of India Thyroid Function Test in detecting diseases, the demand for India Thyroid Function Test is expected to grow significantly in the forecast years.
- Major players operating in the India Thyroid Function Test market include Abbott Laboratories, Beckman Coulter Diagnostics, Siemens Healthcare, Mitra & Co. Pvt. Ltd., Merck, Bloom Diagnostics, Finecare TSH, Biotech Co., Ltd. and bioMérieux.
