07 Dec 2020
Posted in Medical Devices
Thyroid function tests market in India to reach US$125m in 2025, says GlobalData
Driven by the growing clinician preference for testing, increasing number of hypothyroidism and hyperthyroidism cases especially among pregnant women, neonates and geriatric population, and growing public awareness, thyroid function tests (TFTs) market in India is expected to reach US$125m in 2025, says GlobalData, a leading data and analytics company.
An analysis of GlobalData’s Medical Intelligence Database reveals that thyroid stimulation hormone (TSH) tests are expected to account for more than 75% of the TFTs market.
Beckman Coulter, Roche Diagnostics, Siemens Healthineers, Abbott Laboratories and Ortho Clinical Diagnostics are currently the leading players in India, together accounting for more than 65% of the market share.
Bhaskar Vittal, Medical Devices Analyst at GlobalData, comments: “In addition to the diagnosis of thyroid diseases, TFTs are frequently employed to monitor hyperthyroidism and hypothyroidism patients. TFTs are frequently performed to monitor patient responses to thyroid treatments as well as monitor disease progression and for relapse.
“TFT market is expected to grow in India due to population growth as well as growing number of patients with thyroid diseases. This is expected to lead to high testing volumes. Another factor driving the growth is the high accessibility of diagnostic testing centers and affordability of the tests. Proper implementation of national screening programs such as newborn screening for congenital hypothyroidism and iodine deficiency will further boost the growth of thyroid function tests market in India.”