Thyroid function tests include,TSH test, T4 test, T3 test, FT3, FT4, and anti-thyroid antibody test, alsocalled the thyroid peroxidase antibody test (TPOab). Thyroid function tests aredone for various thyroid conditions such as goiter, thyroiditis, Graves’disease, thyroid cancer, thyroid nodule, thyroid storm. These conditions can betreated further by surgery, anti-thyroid medications, radioactive iodine,external radiation, thyroid hormone tablets, and recombinant human TSH.
IndiaThyroid Function Test Market is estimated to account for US$ 44.5 Mn interms of value in 2018 and is expected to reach US$ 58.9 Mn by the end of 2027.
India Thyroid Function TestMarket: Drivers
High prevalence of hypothyroidismin patients with type 2 diabetes and hypertension is expected to propel growthof India thyroid function test market over the forecast period. For instance,in March 2019, the study ‘Prevalence of hypothyroidism in patients with type 2diabetes mellitus and hypertension in India: a cross-sectional observationalstudy’, reported that the prevalence of hypothyroidism in patients with type 2diabetes mellitus, hypertension, and type 2 diabetes mellitus + hypertensionwas 24.8%, 33.5%, and 28.9%, respectively.
India Thyroid Function TestMarket: Opportunities
There is an untapped opportunityin India, which might be the key to increase in sales of thyroid function testkits. People are less aware of thyroid conditions and symptoms due to lessaccess to healthcare facilities and thus less diagnosis. Development inhealthcare infrastructure can aid in overcoming the issue and offer lucrativegrowth opportunities for players in India thyroid function test market.
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India Thyroid Function TestMarket: Restraints
Current thyroid function testsonly measure the total or free T4 and/or T3 and TSH serum concentrations inperipheral blood. These tests fail to measure the effect of T4 or T3 serum ondifferent specific target tissues, which is expected to hamper growth of Indiathyroid function test market.
Key Takeaways:
The TSH segment in India thyroidfunction test market was valued at US$ 27.2 Mn in 2018 and is expected to reachUS$ 37.4 Mn by 2027 at a CAGR of 3.7% during the forecast period. Increasingprevalence of hyperthyroidism is expected to support growth of the segment overthe forecast period. According to Indian Journal of Endocrinology andMetabolism, 2017, prevalence of hypothyroidism in India is reported to bearound 10.9%
Hospitals segment in India thyroidfunction test market was valued at US$ 24.0 in 2018 and is expected to reachUS$ 33.2 Mn by 2027 at a CAGR of 3.7% during the forecast period. Factors suchas increasing healthcare investment, and reimbursement facilities is expectedto support growth of the segment. Patients often visit nearby hospitals inorder to carry out different thyroid function tests which is supporting growthof the market.
Market Trends
Growing healthcare sector is alsoexpected to contribute to growth of the market. For instance, according toIndia Brand Equity Foundation, the healthcare sector in India is expected toreach US$ 280 billion by 2020.
Electrochemiluminescencetechniques can be used to determine trimester-specific reference ranges fortotal tetraiodothyronin, free T4, total triiodothyronin and thyroid stimulationhormone (TSH) in pregnant women in Basrah.
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Regulations
The IVDs are further classifiedinto Non-Notified (Non-Critical) and Notified kits (Critical care)
According to the Ministry ofHealth and Family Welfare, Government of India, from April 2020, all medicaldevices sold in India will be treated as drugs and would be regulated under theDrugs and Cosmetics Act of 1940
India Thyroid Function Test Market:Competitive Landscape
Major players operating in Indiathyroid function test market include, Merck (Sigma-Aldrich Co. LLC.), AbbottLaboratories, Beckman Coulter Diagnostics, Siemens Healthcare, and bioMérieux.
India Thyroid Function TestMarket: Key Developments
Major players in the market arefocused on adopting partnership and collaboration strategies to expand theirproduct portfolio. For instance, in June 2018, Beckman Coulter Diagnosticscollaborated with the University of California, Irvine (UCI) to access UCIresearch in innovative diagnostic platforms, life sciences applications,devices, and data analytics.
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