Awareness on hyperthyroidism and hypothyroidism continues to remain low in India, resulting into fewer people undergoing thyroid function tests. The India thyroid function test market size will witness moderate growth in 2016, raking in 41.6 Mn in revenues, up from US$ 40.1 Mn in 2015. While high prevalence of thyroid dysfunction and government initiatives to raise awareness will continue to support growth in 2016, stagnant R&D investment in immunochemistry will impede overall momentum.
TSH will continue to be the leading test type segment in 2016, raking in US$ 25.1 Mn in revenues, an increase of US$ 1 Mn from 2015. TSH is widely recommended as a primary test for diagnosing hypothyroidism by medical experts, contributing to higher revenues vis-à-vis T3, T4, FT3, and FT4 tests.
Get a Sample of this Research Report@ https://www.futuremarketinsights.com/reports/sample/rep-IN-1531
T4 will extend its lead over T3 test type segment, witnessing a higher y-o-y revenue growth in 2016 over 2015. T4 revenues totalled US$ 4.5 Mn in 2015, and this segment is expected to add US$ 1.7 Mn in revenues in 2016.
| Parameter | 2015 | 2016 |
| India Market | 40.1 | 41.6 |
| TSH Test type Segment | 24.1 | 25.1 |
| T3 Test type Segment | 4.5 | 4.6 |
| Hospitals End-use Segment | 21.3 | 22.2 |
(All values are in US$ Mn)
Hospitals will continue to be the leading end-use segment for thyroid function tests, representing revenues worth US$ 22.2 Mn in 2016, up from US$ 21.3 Mn in 2015. Hospitals will be the fastest growing end-use segment, followed by research organisations and diagnostic laboratories. Clinics will remain the smallest end-use segment in 2016, witnessing lowest growth rate vis-à-vis other segments.
Long-term Outlook:
FMI forecasts moderate long-term growth for the India thyroid function test market, with global revenues expected to surpass US$ 55.3 Mn by 2025. During the period 2015-2025, the India thyroid function test market is anticipated to increase at 3.2% CAGR.
Get a Customized Scope to Match Your Need Ask an Expert- https://www.futuremarketinsights.com/ask-question/rep-IN-1531
Competitive Landscape
Some of the key players covered in the India thyroid function test market report include
- Sigma-Aldrich Co. LLC. (Merck & Co., Inc.)
- Beckman Coulter, Inc.
- (Danaher)
- Siemens Healthcare GmbH
- Abbott Laboratories
The report offers insights on the various strategies related to software development, market consolidation initiatives and analyses the various market players’ specific strengths, weaknesses, opportunities and threats.
Drivers and Trends
The cardinal factor fuelling growth of the India thyroid function test market is high prevalence of thyroid disorders in the country. During an epidemiology study across major cities in India, Kolkata was reported to have highest prevalence of hypothyroidism (21.67%) compared to other cities. Over the past few years there have been significant advancements in the specificity and sensitivity of thyroid testing, which has impacted the treatment for thyroid disorders.
The Indian healthcare industry has witnessed significant advancements with regard to medical devices and pathological laboratory business segments. Domestic and international companies are entering into joint ventures and strategic agreements owing to increasing standardization, availability of human resources and high level of progress in medical technology.
India is witnessing various trends that are expected to bring substantial changes in the landscape of the healthcare industry in the subsequent years. Traditional health risks have been replaced by lifestyle diseases in the last two decades. Various conditions prevailing currently include hypothyroidism, cardiovascular disorders, diabetes, obesity and hypertension to name a few
For critical insights, request for PDF Brochure: https://www.futuremarketinsights.com/reports/brochure/rep-in-1531
Key Segments Covered
By Test type
- TSH
- T3
- T4
- FT3
- FT4
- Others
By End Use
- Clinics
- Research Organizations
- Diagnostic Laboratories
- Hospitals
Explore Other Reports Links From Healthcare Market:
Empty Capsules Market : The global sales of empty capsules are anticipated to reach US$ 2.3 Billion in 2023. The market is further expected to increase at 7.9% CAGR during the forecast period, totaling a valuation of US$ 4.9 Billion by 2033.
Dermal Fillers Market : Dermal Fillers Market is projected to exhibit 7.5% CAGR between 2023 and 2033. They are used to rejuvenate different facial areas associated with various functionalities. The rising demand for facelift or face line corrections in various emerging countries is enabling the market growth.
Connected Drug Delivery Devices Market: The global Connected Drug Delivery Devices Market size was estimated at US$ 330 Mn in 2021, and is expected to reach US$ 1.6 Bn by 2028, expanding at a stellar CAGR of 23.6%.
About FMI:
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs