Portland, OR, April 07, 2020 (GLOBE NEWSWIRE) -- Allied Market Research recently published a report, titled, “Thyroid Function Test Market by Test Type (TSH Tests, T3 Tests, T4 Tests, and Other Tests) and End User (Diagnostic Laboratories, Hospitals, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026”
According to the report published by Allied Market Research, the global thyroid function test industry generated $1.19 billion in 2018, and is expected to reach $1.80 billion by 2026, growing at a CAGR of 5.3% from 2019 to 2026. The report offers a detailed analysis of drivers & opportunities, market size & estimations, top winning strategies, key segments, and competitive scenario.
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Surge in prevalence of thyroid disorders, rise in aging population, and increase in healthcare expenditure across the world drives the growth of the global thyroid function test market. However, lack of awareness in under-developed nations hinders the market growth. On the other hand, untapped potential in emerging economies presents new avenues for coming years.
Based on test type, the TSH tests segment contributed to more than one-third of the total share of the global market in 2018, and is expected to maintain its dominant share in terms of revenue during the forecast period. However, the T4 tests segment is projected to portray the largest CAGR of 6.5% from 2019 to 2026. The research also analyzes segments such as T3 tests and others.
Based on end user, the diagnostic laboratories segment held the highest market share with nearly three-fifths of the total market share in 2018, and is expected to maintain its lead position during the forecast period. However, the hospitals segment is projected to witness the highest growth rate with a CAGR of 6.1% from 2019 to 2026.
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Based on region, North America accounted for the highest share in terms of revenue, contributing to nearly two-fifths of the total market share in 2018, and is estimated to maintain its top position during the forecast period. However, Asia-Pacific is estimated to register the largest CAGR of 6.6% from 2019 to 2026. LAMEA is expected to witness the second-highest growth rate with a CAGR of 6.0% during the forecast period. The research also analyzes the European region.
Leading market players analyzed in the research include Abbott Laboratories, Danaher Corporation, Biomerieux, DiaSorin, Diagnostic Automation/Cortez Diagnostics Inc., KRONUS, F. Hoffmann-La Roche AG, Qualigen Inc., Merck KGaA, and ThermoFisher Scientific.
They have implemented different strategies including collaborations, mergers & acquisitions, partnerships, joint ventures, and others to consolidate their position and make their market across the world.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.