TSH will continue to be the leading type of test in 2016, bringing in $25.1 million in revenue, up $1 million from 2015. TSH is widely recommended as the primary test for diagnosing hypothyroidism by specialists physicians, contributing to higher revenues in relation to the T3, T4, FT3 and FT4 tests.
T4 will extend its lead over the T3 test type segment, witnessing greater annual revenue growth in 2016 compared to 2015. T4 revenues totaled $4.5 million in 2015, and this segment is expected to add $1.7 million in revenue in 2016.
|Type of TSH Test Segment||24.1||25.1|
|T3 Segment test type||4.5||4.6|
|Hospitals End-use segment||21.3||22.2|
(All values are in US$ Mn)
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Hospitals will continue to be the primary end-use segment for thyroid function testing, representing revenues worth $22.2 million in 2016, up from $21.3 million in 2015. Hospitals will be the primary end-use segment. fastest growing end, followed by research organizations and diagnostic laboratories. Clinics will continue to be the smallest end-use segment in 2016, showing the lowest growth rate relative to other segments.
Long term prospects:
The FMI forecasts moderate long-term growth for the Indian thyroid function testing market, with global revenues expected to exceed USD 55.3 million by 2025. During the period 2015-2025, the Indian thyroid function testing market is expected to increase at 3.2% CAGR.
Some of key players covered in India thyroid function tests market report include
- Sigma-Aldrich Co. LLC. (Merck & Co., Inc.)
- Beckman Coulter, Inc.
- Siemens Healthcare GmbH
- Abbott Laboratories
The report offers insights into the various strategies related to software development, market consolidation initiatives and analyzes the specific strengths, weaknesses, opportunities and threats of the various market players.
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drivers and trends
The cardinal factor fueling the growth of the Indian thyroid function testing market is the high prevalence of thyroid disorders in the country. During an epidemiological study in major cities in India, Kolkata had the highest prevalence of hypothyroidism (21.67%) compared to other cities. In recent years, there have been significant advances in the specificity and sensitivity of thyroid tests, which have impacted the treatment of thyroid disorders.
The Indian healthcare industry has witnessed significant advancements regarding medical devices and pathology lab business segments. National and international companies are entering into joint ventures and strategic agreements due to increasing standardization, availability of human resources and high level of progress in medical technology.
India is witnessing several trends that are expected to bring about substantial changes in the landscape of the healthcare industry in the coming years. Traditional health risks have been replaced by lifestyle-related illnesses over the past two decades. Several conditions prevalent today include hypothyroidism, cardiovascular disorders, diabetes, obesity, and hypertension, to name a few.
Main Segments Covered
by test type
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By End Use
- research organizations
- diagnostic laboratories
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