About Thyroid Functioning Tests
Thyroid, which is a part of the endocrine system, comprised of glands. It produces, stores, and releases hormones into the bloodstream. However, the levels of triiodothyronine (T3) and thyroxine (T4) should be balanced for the normal functioning of the body organs. The major thyroid hormone secreted from the thyroid gland is T4, which consists of four iodine particles. To maintain the balance, T4 is changed over to T3 by the expulsion of an iodine particle. This happens essentially in the liver and in specific tissues, where T3 acts such as in the cerebrum.
Technavio’s analysts forecast the global thyroid functioning tests market to grow at a CAGR of 4.60% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global thyroid functioning tests market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Thyroid Functioning Tests Market 2017-2021
Technavio recognizes the following companies as the key players in the global thyroid functioning tests market: Abbott, bioMérieux, Danaher, DiaSorin, and Siemens Healthineers.
Other Prominent Vendors in the market are: Ameritek USA, Autobio Diagnostics, F. Hoffmann-La Roche, GeTein BioMedical, IBL-America, Sigma-Aldrich, Teco Diagnostics, and Thermo Fisher Scientific.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is focus on partnerships and acquisitions for product development. Manufacturers are focusing on partnerships and acquisitions for product development to become leaders. For instance, in 2016, bioMérieux acquired Hyglos, which has expertise in developing recombinant proteins for detecting endotoxins.”
According to the report, one driver in the market is rapid increase in older adult population. The older adult population is increasing worldwide. Almost every nation in the world is witnessing rapid rise in aging people. Currently, one of the most significant social transformations is the growth of aging population which is affecting nearly all sectors of society, including labor and financial markets as well as family structures and intergenerational ties. However, increase in older adult people does not necessarily imply the improvement in health. This rise brings several public health challenges, as with the increasing age, the immunity reduces significantly.
Further, the report states that one challenge in the market is varying normal range for thyroid function test. Most conventional physicians use thyroid function test to diagnose thyroid disorder and prescribe suitable medications, among which TSH test is the most common test. However, this test often produce misleading false result, as levels of hormones vary in various circumstances. For instance, in Hashimoto's disease, the levels of thyroid in individuals often fluctuate. Therefore, the need for setting up a standard normal range becomes important.
Abbott, bioMérieux, Danaher, DiaSorin, Siemens Healthineers, Ameritek USA, Autobio Diagnostics, F. Hoffmann-La Roche, GeTein BioMedical, IBL-America, Sigma-Aldrich, Teco Diagnostics, and Thermo Fisher Scientific.