India Thyroid Function Test Market will Offer a Lucrative Opportunity of US$ 55.3 Mn by 2025

Future Market Insights

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 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.

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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.

Parameter20152016
India Market40.141.6
TSH Test type Segment24.125.1
T3 Test type Segment4.54.6
Hospitals End-use Segment21.322.2

(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.

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About Ankush 17456 Articles
Ankush Nikam is a market research writer, and he covers research-oriented topics for B2B audiences. Ankush has covered a range of B2B topics, including but not limited to, automotive, industrial goods, food & beverage, and ICT. He has collaborated with industry-experts and thought leaders to bring interesting insights to the fore

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