From GlobeNewswire: 2025-04-25 04:54:00

The global Thyroid Function Testing Market was valued at USD 1.68 billion in 2023 and is projected to reach USD 2.74 billion by 2032, with a CAGR of 5.58%. The U.S. market alone was valued at USD 0.50 billion in 2023, expected to reach USD 0.79 billion by 2032.

Key companies in the market include Abbott, Siemens Healthineers, Roche Diagnostics, Beckman Coulter, and Bio-Rad Laboratories, among others, offering a range of thyroid function testing products.

Thyroid function tests play a crucial role in diagnosing thyroid disorders, with the TSH test holding the largest market share in 2023. Free T4 is the fastest-growing segment, providing more specific information on thyroid hormone production.

Hospitals dominated the market in 2023, offering comprehensive testing panels and quick turnaround times. Diagnostic Laboratories are the fastest-growing segment, driven by outsourcing testing for cost efficiency and high-throughput capabilities.

North America led the global market in 2023, while Asia Pacific is expected to experience the fastest growth. Factors driving growth include rising healthcare investments, expanding middle-class populations, and increased awareness of thyroid health. Beckman Coulter’s Access Thyroglobulin Antibody II test, approved by the FDA in September 2023, offers quick results for thyroid disorders like Hashimoto’s and Graves’ disease. With an estimated 200 million people worldwide living with thyroid issues, the market is expected to grow, especially in North America, Europe, and Asia Pacific, with women accounting for 65% of tests.

The Thyroid Function Testing Market Analysis & Outlook Report for 2024-2032 provides in-depth insights into the incidence, prevalence, and testing volume trends of thyroid disorders globally. With increasing adoption of automated testing, the market is projected to expand due to broader insurance coverage and rising awareness. The report covers regulatory approvals, competitive landscapes, and regional analyses for a comprehensive understanding of the market.

SNS Insider, a leading market research agency, offers a range of reports on topics like In Vitro Diagnostics, Endocrine Testing, Point-of-Care Diagnostics, and Autoimmune Disease Testing. With a focus on providing clients with up-to-date market data and insights, the agency uses various research methods to deliver accurate information for informed decision-making.



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