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Europe Thyroid Function Tests Devices Market Research Report – Segmented By Disease Indication, End-User & Country (United Kingdom, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands and Rest of Europe) – Industry Size, Share, Trends & Growth Forecast (2022 to 2027)

Published: March, 2023
ID: 7999
Pages: 145
Formats: report pdf report excel report power bi report ppt

The size of the Europe Thyroid Function Tests Devices Market is predicted to be growing at a robust rate between 2022 to 2027.

The expansion of the thyroid function tests devices market in the European region is fueled by increased awareness for early disease screening and modern diagnostic facilities. Furthermore, early detection of the condition, increase in the incidence of thyroid disorders, an increase in the geriatric population, an increase in the prevalence of lifestyle diseases, and an increase in the number of awareness efforts in this nation all contribute to the market's growth. Players in the thyroid function test market are putting more effort into developing very efficient solutions in terms of test results. As a result, they are expanding their R&D spending. To preserve dominant region position in the worldwide thyroid function test market, firms pursue a variety of organic and inorganic tactics, such as mergers, collaborations, partnerships, and acquisitions.

Hypothyroidism and hyperthyroidism are more prevalent in this population. As a result, rising occurrences of heart disease, obesity, and diabetes are expected to drive significant sales growth in the European thyroid function test market in the upcoming years. Another important factor driving the development of the thyroid function test market over the forecast period is the rising prevalence of autoimmune diseases. The existence of significant market players in the region, a well-developed healthcare infrastructure, technical advancements, and increased usage of thyroid function tests for the treatment of various thyroid diseases. High healthcare costs and an increase in the prevalence of autoimmune diseases will fuel market expansion. Furthermore, developments in healthcare infrastructure, an increase in the target population, an increase in public healthcare campaigns, an increase in healthcare reforms, and technical advancements in the field of healthcare are further estimated to contribute to market growth.

The European thyroid function test market is projected to be limited by a shortage of endocrinologists and the difficulty of interpreting thyroid blood tests is another issue contributing to the slow growth of the thyroid function test industry. Thyroid diseases are asymptomatic, resulting in a higher rate of untreated patients, vital growth limiting factors. Thyroid blood tests are also difficult to interpret, which will hinder market expansion. The lack of insurance coverage for thyroid testing, on the other hand, stifles market growth.

This research report on the North America Thyroid Function Tests Devices Market has been segmented and sub-segmented into the following categories.

By Disease indication:

  • TSH Tests (Thyroid Stimulating Hormone Test)
  • FT4 Tests (Free T4)
  • FT3 Tests (Free T3)

By Usage:

  • Hospitals
  • Acute Care Centers
  • Diagnostic Laboratories 
  • Clinics

By Country:

  • India
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Thailand
  • Malaysia
  • Vietnam
  • Philippines
  • Indonesia
  • Singapore
  • Rest of APAC

Europe was the second-largest market for thyroid function tests. As a result of the region's well-established network of large businesses, new entrants have more minor prospects for growth and business expansion. According to DiaSorin, over 200 million people worldwide suffered from thyroid disorders in 2018. According to statistics, women are 5 to 8 times more likely than males to suffer thyroid disease. Furthermore, high amounts of alcohol and tobacco intake have been linked to thyroid dysfunction. They raise thyroid hormone levels while lowering TSH, which will likely drive up demand for thyroid function tests. Over the forecast period, the market is expected to rise due to the increased frequency of autoimmune disorders and growing healthcare expenditure.

KEY MARKET PLAYERS:

Some of the major companies in this market are Beckman Coulters, Siemens Healthcare Diagnostics, bioMérieux Inc, DiaSorin S.p.A and IBL-America and Others.

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