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North America Thyroid Function Tests Devices Market Research Report – Segmented By Disease Indication, End-User & Country (the United States, Canada and rest of North America) – Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2022 to 2027)

Published: March, 2023
ID: 7998
Pages: 145
Formats: report pdf report excel report power bi report ppt

North American Thyroid Function Tests Devices Market Size (2022 to 2027)

The size of the North American Thyroid Function Tests Devices Market is growing at a brisk pace. The market is showcasing evident potential in the mentioned forecasting period. The market continues to gain momentum with rapid development in the medical industry.

Thyroid disease is considered a significant public health concern across North America. Therefore, the thyroid function test market is expected to witness substantial growth due to the increasing prevalence of thyroid disorders and the proliferation of lifestyle diseases across North America. Also, rising awareness about thyroid disorders is expected to impact the market growth positively. 

Another important factor driving the thyroid function test market growth over the forecast period is the growing incidence of autoimmune disorders. When the immune system creates antibodies that target its own body, autoimmune diseases arise. For example, Hashimoto's thyroiditis is an autoimmune disease that can cause hypothyroidism. As a result, increasing the Prevalence of autoimmune diseases is likely to boost market growth.

The Growing geriatric population is considered one of the growth contributors to the market growth, as the senior population is exposed to various lifestyle disorders. In addition, an increasing population with thyroid problems is expected to drive the demand for the thyroid function test devices market.

Moreover, the growing Prevalence of sedentary lifestyles in countries such as the United States and Canada is a growth driver, driving the demand for thyroid function tests.

Furthermore, increasing alcohol and tobacco consumption is considered the major growth contributor to the market growth. In addition, alcohol use is highest in countries with high income, such as the United States and Canada, and is one of the leading causes of disability and disease. As a result, the factors stated above are expected to boost the market growth.

However, a scarcity of experienced endocrinologists, a lack of awareness regarding thyroid disorders in developing and underdeveloped countries, and unfavorable reimbursement situations are likely to limit market growth to some extent over the forecast period.

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:

  • The United States
  • Canada
  • Rest of North America

Globally, North America dominated the Thyroid Function Tests Devices Market and witnessed a significant share in the market over the forecast period. However, the market is expected to continue its growth throughout the forecast period. The market growth is attributed to the availability of advanced healthcare infrastructure, increasing healthcare expenditure, and high awareness about the thyroid. As a result, countries such as the United States and Canada are witnessing significant growth in the region.

The United States held the largest share of the thyroid function tests market and contributed to the North American regional market growth. Favorable reimbursement policies, government investments, and increasing disposable income of the people are driving the market growth. In addition, the High healthcare costs and an increase in the Prevalence of autoimmune diseases may fuel market growth.

On the other hand, Canada is more likely to witness a considerable share in the Thyroid Function Tests Devices Market; this is because the rising Prevalence of sedentary lifestyles disorders and the Prevalence of thyroid disorders have significantly been increased across Canada.

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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