Thyroid function tests include,
TSH test, T4 test, T3 test, FT3, FT4, and anti-thyroid antibody test, also
called the thyroid peroxidase antibody test (TPOab). Thyroid function tests are
done for various thyroid conditions such as goiter, thyroiditis, Graves’
disease, thyroid cancer, thyroid nodule, thyroid storm. These conditions can be
treated further by surgery, anti-thyroid medications, radioactive iodine,
external radiation, thyroid hormone tablets, and recombinant human TSH.
India
Thyroid Function Test Market is estimated to account for US$ 44.5 Mn in
terms of value in 2018 and is expected to reach US$ 58.9 Mn by the end of 2027.
India Thyroid Function Test
Market: Drivers
High prevalence of hypothyroidism
in patients with type 2 diabetes and hypertension is expected to propel growth
of India thyroid function test market over the forecast period. For instance,
in March 2019, the study ‘Prevalence of hypothyroidism in patients with type 2
diabetes mellitus and hypertension in India: a cross-sectional observational
study’, reported that the prevalence of hypothyroidism in patients with type 2
diabetes mellitus, hypertension, and type 2 diabetes mellitus + hypertension
was 24.8%, 33.5%, and 28.9%, respectively.
India Thyroid Function Test
Market: Opportunities
There is an untapped opportunity
in India, which might be the key to increase in sales of thyroid function test
kits. People are less aware of thyroid conditions and symptoms due to less
access to healthcare facilities and thus less diagnosis. Development in
healthcare infrastructure can aid in overcoming the issue and offer lucrative
growth opportunities for players in India thyroid function test market.
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India Thyroid Function Test
Market: Restraints
Current thyroid function tests
only measure the total or free T4 and/or T3 and TSH serum concentrations in
peripheral blood. These tests fail to measure the effect of T4 or T3 serum on
different specific target tissues, which is expected to hamper growth of India
thyroid function test market.
Key Takeaways:
The TSH segment in India thyroid
function test market was valued at US$ 27.2 Mn in 2018 and is expected to reach
US$ 37.4 Mn by 2027 at a CAGR of 3.7% during the forecast period. Increasing
prevalence of hyperthyroidism is expected to support growth of the segment over
the forecast period. According to Indian Journal of Endocrinology and
Metabolism, 2017, prevalence of hypothyroidism in India is reported to be
around 10.9%
Hospitals segment in India thyroid
function test market was valued at US$ 24.0 in 2018 and is expected to reach
US$ 33.2 Mn by 2027 at a CAGR of 3.7% during the forecast period. Factors such
as increasing healthcare investment, and reimbursement facilities is expected
to support growth of the segment. Patients often visit nearby hospitals in
order to carry out different thyroid function tests which is supporting growth
of the market.
Market Trends
Growing healthcare sector is also
expected to contribute to growth of the market. For instance, according to
India Brand Equity Foundation, the healthcare sector in India is expected to
reach US$ 280 billion by 2020.
Electrochemiluminescence
techniques can be used to determine trimester-specific reference ranges for
total tetraiodothyronin, free T4, total triiodothyronin and thyroid stimulation
hormone (TSH) in pregnant women in Basrah.
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Report: https://www.coherentmarketinsights.com/market-insight/india-thyroid-function-test-market-3521
Regulations
The IVDs are further classified
into Non-Notified (Non-Critical) and Notified kits (Critical care)
According to the Ministry of
Health and Family Welfare, Government of India, from April 2020, all medical
devices sold in India will be treated as drugs and would be regulated under the
Drugs and Cosmetics Act of 1940
India Thyroid Function Test Market:
Competitive Landscape
Major players operating in India
thyroid function test market include, Merck (Sigma-Aldrich Co. LLC.), Abbott
Laboratories, Beckman Coulter Diagnostics, Siemens Healthcare, and bioMérieux.
India Thyroid Function Test
Market: Key Developments
Major players in the market are
focused on adopting partnership and collaboration strategies to expand their
product portfolio. For instance, in June 2018, Beckman Coulter Diagnostics
collaborated with the University of California, Irvine (UCI) to access UCI
research in innovative diagnostic platforms, life sciences applications,
devices, and data analytics.
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