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Global Thyroid Function Test Market "(By ,Test Type: TSH Tests, T4 Tests, T3 Tests, Others); (By End User: Hospitals, Diagnostic Laboratories, Others)”- Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2022-2030

A prominent research firm, Cognizance Market Research added a cutting-edge industry report on “Global Thyroid Function Test Market”. The report studies the current as well as past growth trends and opportunities for the market to gain valuable insights during the forecast period from 2022 to 2030.

Global Thyroid Function Test Market Analysis:

According to cognizance market research, Global Thyroid Function Test Market was valued at US$ 1,549.4 million in 2022 and is anticipated to reach US$ 2,451.8 million by the end of 2030 expected to register a CAGR of 5.9% from 2023 to 2030.

thyroid function test market

What is Thyroid Function Test Market?

The global thyroid function test (TFT) market is expanding in the healthcare industry, owing to the rising incidence of thyroid illnesses, technological improvements, and increased awareness and education about thyroid diseases. The thyroid gland is in charge of creating hormones that control metabolism and other bodily processes. Any interruption in thyroid gland function can result in a variety of illnesses, including hypothyroidism, hyperthyroidism, and thyroid cancer.

TFTs are medical tests that measure thyroid hormone levels in the blood to assess thyroid gland function. The TFT market encompasses a wide range of tests, such as blood tests, imaging tests, and biopsy tests, as well as the diagnostic devices and tools needed to perform these tests.

The rising frequency of thyroid diseases, particularly among women and the elderly, is propelling the TFT market forward. Furthermore, technical improvements, such as the introduction of automated immunoassay analysers and thyroid function testing kits, are fuelling market expansion. Furthermore, rising knowledge and education about thyroid problems are pushing individuals to get tested for thyroid function, which is driving up demand for TFTs.

Abbott Laboratories, Danaher Corporation, F. Hoffmann-La Roche AG, Siemens Healthineers, and Thermo Fisher Scientific are among the market’s prominent participants. To acquire a competitive edge in the market, these firms are involved in product creation, strategic alliances, mergers and acquisitions, and market growth into new regions.

Global Thyroid Function Test Market Outlook:

Several factors are projected to cause considerable growth in the worldwide thyroid function test market in the coming years. The rising frequency of thyroid problems, particularly among women and the elderly, is one of the market’s primary drivers. According to the American Thyroid Association, around 20 million Americans have thyroid illness, with roughly 60% of those affected being ignorant of their condition. Furthermore, the increased need for early and precise detection of thyroid problems is driving market expansion.

Technological improvements in thyroid function testing, such as the introduction of automated immunoassay analysers and thyroid function testing kits, are another factor driving market expansion. Furthermore, the growing use of point-of-care testing is projected to open up new business prospects. However, obstacles such as high thyroid function testing prices and limited reimbursement rules in some countries may hinder market expansion. Furthermore, a lack of awareness of thyroid problems in some countries may stymie market expansion.

According to the National Institute of Diabetes and Digestive and Kidney Diseases, hypothyroidism affects an estimated 4.6% of the U.S. population aged 12 and up, whereas hyperthyroidism affects 0.7%.

Segment Analysis:

The worldwide thyroid function test market may be divided into three segments: test type, end-user, and geography.

The market may be divided into TSH tests, T4 testing, T3 tests, and others based on test type. TSH tests are projected to dominate the market due to their high sensitivity and accuracy in diagnosing thyroid problems.

The market is divided into hospitals, diagnostic laboratories, and others based on end-user. The diagnostic labs sector is likely to be the market leader since these facilities have the infrastructure and equipment needed to perform thyroid function tests properly and effectively.

Due to the increasing frequency of thyroid problems, rising healthcare spending, and increased knowledge about early diagnosis and treatment, the Asia-Pacific region is likely to be the market’s fastest-growing sector.

TSH testing (ultra-sensitive TSH tests, sensitive TSH tests, and others), T4 tests (total T4 tests and free T4 tests), T3 tests (total T3 tests and free T3 tests), and others are market sub-segments (thyroglobulin tests, thyroid autoantibodies tests, etc.). These sub-segments are further subdivided according on the testing method used, such as radioimmunoassay, enzyme-linked immunosorbent assay (ELISA), chemiluminescence immunoassay (CLIA), and others.

Geographical Analysis:

Based on geography the Thyroid Function Test Market has been segmented into five main regions namely, North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.

Due to the high incidence of thyroid problems in the region and the existence of important market participants, North America led the market. Due to the great sensitivity and accuracy of the test, TSH testing accounted for the biggest proportion in the region.

Europe was the second-largest market, owing to the region’s increasing prevalence of thyroid problems and growing senior population.

Due to the increasing frequency of thyroid problems, rising healthcare spending, and increased knowledge about early diagnosis and treatment, the Asia-Pacific region is likely to be the market’s fastest-growing sector. TSH tests dominated the market in the region as well, owing to their great sensitivity and accuracy.

The market in Latin America, the Middle East, and Africa is predicted to rise steadily, owing to increased awareness of thyroid problems and rising healthcare spending. In both territories, the TSH testing category dominated the market.

geographical analysis

The report offers the revenue of the Global Thyroid Function Test Market for the period 2020-2030, considering 2020 & 2021 as a historical year, 2022 as the base year and 2023 to 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the Global Thyroid Function Test Market for the forecast period. The Global Thyroid Function Test Market report provides insights and in-depth analysis into developments impacting enterprises and businesses on a regional and global level. The report covers the Thyroid Function Test Market performance in terms of revenue contribution from several segments and comprises a detailed analysis of key drivers, trends, restraints, and opportunities prompting revenue growth of the Global Thyroid Function Test Market.

The report has been prepared after wide-ranging secondary and primary research. Secondary research included internet sources, numerical data from government organizations, trade associations, and websites. Analysts have also employed an amalgamation of bottom-up and top-down approaches to study numerous phenomena in the Global Thyroid Function Test Market. Secondary research involved a detailed analysis of significant players’ product portfolios. Literature reviews, press releases, annual reports, white papers, and relevant documents have been also studied to understand the Thyroid Function Test Market. Primary research involved a great extent of research efforts, wherein experts carried out interviews telephonic as well as questioner-based with industry experts and opinion-makers.

The report includes an executive summary, along with a growth pattern of different segments included in the scope of the study. The Y-o-Y analysis with elaborate market insights has been provided in the report to comprehend the Y-o-Y trends in the Thyroid Function Test Market. Additionally, the report focuses on altering competitive dynamics in the global market. These indices serve as valued tools for present market players as well as for companies interested in participating in the Thyroid Function Test Market. The subsequent section of the Thyroid Function Test Market report highlights the USPs, which include key industry events (Type launch, research partnership, acquisition, etc.), technology advancements, pipeline analysis, prevalence data, and regulatory scenario.

Global Thyroid Function Test Market Competitive Landscape:

Here are some of the important participants in the global market for thyroid function tests, as well as recent developments:

  • Abbott Laboratories
  • Agilent Technologies, Inc.
  • Beckman Coulter, Inc.
  • Bio-Rad Laboratories
  • Biomedical Diagnostics
  • DiaSorin S.p.A.
  • DRG International, Inc.
  • Hoffmann-La Roche AG
  • Grifols, S.A.
  • ImmunoDX
  • Immunodiagnostic Systems Holdings PLC
  • Merck KGaA
  • Ortho Clinical Diagnostics
  • Quest Diagnostics Incorporated
  • Qualigen
  • Randox Laboratories Ltd.
  • Siemens Healthineers AG
  • Sysmex Corporation
  • Thermo Fisher Scientific, Inc.
  • Tosoh Corporation
  • Trinity Biotech
  • United Biotech Pvt. Ltd.
  • Varelis
  • Werfen
  • YD Diagnostics Corp.

Companies in the industry are using numerous methods to stay competitive, such as mergers and acquisitions, partnerships, collaborations, and product launches. For example, in 2020, Abbott Laboratories introduced the ARCHITECT STAT Highly Sensitive TSH assay, which is intended to help in the identification of thyroid diseases.

Similarly, F. Hoffmann-La Roche AG will debut its Elecsys TSH receptor autoantibodies testing in 2021, which is a completely automated and extremely sensitive test used to diagnose Graves’ illness. The Elecsys Tg II test, which analyses thyroglobulin levels in the blood and is used to detect the recurrence of thyroid cancer, also gained CE Mark clearance.

The report explores the competitive scenario of the Global Thyroid Function Test Market. Major players working in the Thyroid Function Test Market have been named and profiled for unique commercial attributes. Company overview (company description, Type portfolio, geographic presence, employee strength, Key management, etc.), financials, SWOT analysis, recent developments, and key strategies are some of the features of companies profiled in the Thyroid Function Test Market report.


Global Thyroid Function Test Market, By Test Type:

  • TSH Tests
  • T4 Tests
  • T3 Tests
  • Others

Global Thyroid Function Test Market, By End User:

  • Hospitals
  • Diagnostic Laboratories
  • Others

Global Thyroid Function Test Market, by region:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia & New Zealand
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
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Table of Content

Research Methodology: Aspects

Market research is a crucial tool for organizations aiming to navigate the dynamic landscape of customer preferences, business trends, and competitive landscapes. At Cognizance Market Research, acknowledging the importance of robust research methodologies is vital to delivering actionable insights to our clientele. The significance of such methodologies lies in their capability to offer clarity in complexity, guiding strategic management with realistic evidence rather than speculation. Our clientele seek insights that excel superficial observations, reaching deep into the details of consumer behaviours, market dynamics, and evolving opportunities. These insights serve as the basis upon which businesses craft tailored approaches, optimize product offerings, and gain a competitive edge in an ever-growing marketplace.

The frequency of information updates is a cornerstone of our commitment to providing timely, relevant, and accurate insights. Cognizance Market Research adheres to a rigorous schedule of data collection, analysis, and distribution to ensure that our reports reflect the most current market realities. This proactive approach enables our clients to stay ahead of the curve, capitalize on emerging trends, and mitigate risks associated with outdated information.

Our research process is characterized by meticulous attention to detail and methodological rigor. It begins with a comprehensive understanding of client objectives, industry dynamics, and research scope. Leveraging a combination of primary and secondary research methodologies, we gather data from diverse sources including surveys, interviews, industry reports, and proprietary databases. Rigorous data analysis techniques are then employed to derive meaningful insights, identify patterns, and uncover actionable recommendations. Throughout the process, we remain vigilant in upholding the highest standards of data integrity, ensuring that our findings are robust, reliable, and actionable.

Key phases involved in in our research process are mentioned below:


Understanding Clients’ Objectives:

Extensive Discussions and Consultations:

  • We initiate in-depth discussions and consultations with our clients to gain a comprehensive understanding of their objectives. This involves actively listening to their needs, concerns, and aspirations regarding the research project.
  • Through these interactions, we aim to uncover the underlying motivations driving their research requirements and the specific outcomes they hope to achieve.

Industry and Market Segment Analysis:

  • We invest time and effort in comprehensively understanding our clients’ industry and market segment. This involves conducting thorough research into market trends, competitive dynamics, regulatory frameworks, and emerging opportunities or threats.
  • By acquiring a deep understanding of the broader industry landscape, we can provide context-rich insights that resonate with our clients’ strategic objectives.

Target Audience Understanding:

  • We analyze our clients’ target audience demographics, behaviors, preferences, and needs to align our research efforts with their consumer-centric objectives. This entails segmenting the audience based on various criteria such as age, gender, income level, geographic location, and psychographic factors.
  • By understanding the nuances of the target audience, we can tailor our research methodologies to gather relevant data that illuminates consumer perceptions, attitudes, and purchase intent.


Identifying Challenges and Opportunities:

  • We proactively identify the challenges and opportunities facing our clients within their respective industries. This involves conducting SWOT (Strengths, Weaknesses, Opportunities, Threats) analyses and competitive benchmarking exercises.
  • By identifying potential obstacles and growth drivers, we can provide strategic recommendations that help our clients navigate complexities and capitalize on emerging opportunities effectively.

Grasping Specific Goals:

  • We delve into the intricacies of our clients’ objectives to gain clarity on the specific goals they aim to accomplish through the research. This entails understanding their desired outcomes, such as market expansion, product development, or competitive analysis.
  • By gaining a nuanced understanding of our clients’ goals, we can tailor our research approach to address their unique challenges and opportunities effectively.

Data Collection:


Primary Research Process:

  • Surveys: We design and administer surveys tailored to capture specific information relevant to our clients’ objectives. This may involve employing various survey methodologies, such as online, telephone, or face-to-face interviews, to reach target audiences effectively.
  • Interviews: We conduct structured or semi-structured interviews with key stakeholders, industry experts, or target consumers to gather in-depth insights and perspectives on relevant topics. These interviews allow us to probe deeper into specific issues and uncover valuable qualitative data.
  • Focus Groups: We organize focus group discussions with carefully selected participants to facilitate interactive discussions and gather collective opinions, attitudes, and preferences. This qualitative research method provides rich contextual insights into consumer behaviors and perceptions.
  • Observations: We conduct observational research by directly observing consumer behaviors, interactions, and experiences in real-world settings. This method enables us to gather objective data on consumer actions and reactions without relying on self-reported information.

Secondary Research Process:

  • Literature Review: We conduct comprehensive literature reviews to identify existing studies, academic articles, and industry reports relevant to the research topic. This helps us gain insights into previous research findings, theoretical frameworks, and best practices.
  • Industry Reports: We analyze industry reports published by reputable trade associations (whitepapers, research studies, etc.), and government agencies (U.S. Census Bureau, Bureau of Labor Statistics, and Securities and Exchange Commission etc.) to obtain macro-level insights into market trends, competitive landscapes, and industry dynamics.
  • Government Publications: We review government publications, such as economic reports, regulatory documents, and statistical databases, to gather relevant data on demographics, market size, consumer spending patterns, and regulatory frameworks.
  • Online Databases: We leverage online databases, such as industry portals, and academic repositories (PubMed Central (PMC), ScienceDirect, SSRN (Social Science Research Network), Directory of Open Access Journals (DOAJ), NCBI, etc.), to access a wide range of secondary data sources, including market statistics, financial data, and industry analyses.





Data Analysis:

The data analysis phase serves as a critical juncture where raw data is transformed into actionable insights that inform strategic decision-making. Through the utilization of analytical methods such as statistical analysis and qualitative techniques like thematic coding, we uncover patterns, correlations, and trends within the data. By ensuring the integrity and validity of our findings, we strive to provide clients with accurate and reliable insights that accurately reflect the realities of the market landscape.



Transformation of Raw Data:

  • Upon collecting the necessary data, we transition into the data analysis phase, where raw data is processed and transformed into actionable insights. This involves organizing, cleaning, and structuring the data to prepare it for analysis.

Utilization of Analytical Methods:

  • Depending on the research objectives, we employ a diverse range of analytical methods to extract meaningful insights from the data. These methods include statistical analysis, trend analysis, regression analysis, and qualitative coding.

Statistical Analysis:

  • Statistical tools are instrumental in uncovering patterns, correlations, and trends within the data. By applying statistical techniques such as descriptive statistics, hypothesis testing, and multivariate analysis, we can discern relationships and derive valuable insights.

Qualitative Analysis Techniques:

  • In addition to quantitative analysis, we leverage qualitative analysis techniques to gain deeper insights from qualitative data sources such as interviews or open-ended survey responses. One such technique is thematic coding, which involves systematically categorizing and interpreting themes or patterns within qualitative data.

Integrity and Validity Maintenance:

  • Throughout the analysis process, we maintain a steadfast commitment to upholding the integrity and validity of our findings. This entails rigorous adherence to established methodologies, transparency in data handling, and thorough validation of analytical outcomes.

Data Validation:

The final phase of our research methodology is data validation, which is essential for ensuring the reliability and credibility of our findings. Validation involves scrutinizing the collected data to identify any inconsistencies, errors, or biases that may have crept in during the research process. We employ various validation techniques, including cross-referencing data from multiple sources, conducting validity checks on survey instruments, and seeking feedback from independent experts or peer reviewers. Additionally, we leverage internal quality assurance protocols to verify the accuracy and integrity of our analysis. By subjecting our findings to rigorous validation procedures, we instill confidence in our clients that the insights they receive are robust, reliable, and trustworthy.


Importance of Data Validation:

  • Data validation is the final phase of the research methodology, crucial for ensuring the reliability and credibility of the findings. It involves a systematic process of reviewing and verifying the collected data to detect any inconsistencies, errors, or biases.

Scrutiny of Collected Data:

  • The validation process begins with a thorough scrutiny of the collected data to identify any discrepancies or anomalies. This entails comparing data points, checking for outliers, and verifying the accuracy of data entries against the original sources.

Validation Techniques:

  • Various validation techniques are employed to ensure the accuracy and integrity of the data. These include cross-referencing data from multiple sources to corroborate findings, conducting validity checks on survey instruments to assess the reliability of responses, and seeking feedback from independent experts or peer reviewers to validate the interpretation of results.

Internal Quality Assurance Protocols:

  • In addition to external validation measures, internal quality assurance protocols are implemented to further validate the accuracy of the analysis. This may involve conducting internal audits, peer reviews, or data validation checks to ensure that the research process adheres to established standards and guidelines.

Report Scope:



Market Size

US$ 2,451.8 Million (2030)

Compound Annual Growth Rate (CAGR)


Base Year


Forecast Period


Forecast Units

Value (US$ Million)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Geographies Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Countries Covered

U.S., Canada, Germany, U.K., France, Spain, Italy, Rest of Europe, Japan, China, India, Australia & New Zealand, South Korea, Rest of Asia Pacific, Brazil, Mexico, Rest of Latin America, GCC, South Africa, Rest of Middle East & Africa

Key Companies Profiled

Abbott Laboratories, Agilent Technologies, Inc., Beckman Coulter, Inc., Bio-Rad Laboratories, Biomedical Diagnostics, DiaSorin S.p.A., DRG International, Inc., Hoffmann-La Roche AG, Grifols, S.A., ImmunoDX, Immunodiagnostic Systems Holdings PLC, Merck KGaA, Ortho Clinical Diagnostics, Quest Diagnostics Incorporated, Qualigen, Randox Laboratories Ltd., Siemens Healthineers AG, Sysmex Corporation, Thermo Fisher Scientific, Inc., Tosoh Corporation, Trinity Biotech, United Biotech Pvt. Ltd., Varelis, Werfen, YD Diagnostics Corp.

Key Questions Answered in Thyroid Function Test Market Report

The thyroid function test market is predicted to develop rapidly in the next years due to reasons such as rising thyroid problem incidence, more awareness and screening programmes, and technological improvements.

The rising frequency of thyroid problems, an ageing population, and more knowledge about early illness detection are the key drivers of the thyroid function test market. The main obstacles are a lack of testing uniformity and the high expense of modern testing methodologies.

Abbott Laboratories, F. Hoffmann-La Roche AG, Beckman Coulter Inc., Siemens Healthineers AG, and Thermo Fisher Scientific Inc. are the major participants in the thyroid function test industry. Product launches, collaborations, partnerships, and mergers and acquisitions are among their tactics.

North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa are the primary geographical regions in the thyroid function test market. Because of the high frequency of thyroid problems and modern healthcare infrastructure, North America and Europe control the majority of the market.

The development of innovative testing technologies, a greater emphasis on point-of-care testing, and the implementation of automation in testing procedures are the primary developments in the thyroid function test market. Untapped markets in emerging nations and increased demand for customised treatment are two of the most significant potential.

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