01 Jul 2021
Posted in Medical Devices
China to lead Asia-Pacific thyroid function tests market through 2025, forecasts GlobalData
China, which accounted for about 45% of the Asia-Pacific (APAC) thyroid function tests market in 2020, is expected to continue to lead the regional market through 2025, reveals GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Thyroid Function Tests (In Vitro Diagnostics) – Global Market Analysis and Forecast Model (COVID-19 Market Impact)’, reveals that thyroid stimulation hormone (TSH) tests accounted for more than 70% of the Chinese thyroid function tests market in 2020.
Beckman Coulter, Inc., Roche Diagnostics International Ltd, Siemens Healthineers AG, Abbott Laboratories and Ortho Clinical Diagnostics Inc. were the leading players in China, accounting for about 70% of the thyroid function tests market in China in 2020.
Minith Kumar, Medical Devices Analyst at GlobalData, comments: “China has significantly higher number of patients suffering from hyperthyroidism and hypothyroidism compared to other countries due to its 1.4 billion population. Geographical variation also exists with regards to the prevalence of thyroid disease in China, with prevalence rates being substantially altered in iodine-deficient versus iodine excess areas.”
There is a varied difference in the incidence and prevalence of thyroid disease based on gender and age. Specifically, hypothyroidism and hyperthyroidism are more common in the elderly and women. Thyroid disease affects five to ten times more females than males, with the highest prevalence being observed in aged people.
Mr. Kumar concludes: “The thyroid function tests market in China is limited by the fact that fewer thyroid disease patients are expected to undergo diagnostic or disease monitoring testing in China due to inequalities that exist in the current Chinese healthcare system. Specifically, Chinese inhabitants in rural areas are less likely to undergo diagnostic testing for non-emergency indications such as thyroid disease. Once this inequality in the healthcare system is addressed adequately, there is a significant scope for growth in China.”