Thyroid Function Test Market Size, Share, Growth Analysis, By Type(TSH tests, T3 tests, T4 tests, Other), By End-use(Hospitals, Research laboratories, Diagnostic laboratories, Others), By Region - Industry Forecast 2024-2031

Thyroid Function Test Market size was valued at USD 1.18 billion in 2019 and is poised to grow from USD 1.39 billion in 2023 to USD 3.2 billion by 2031, growing at a CAGR of 11% in the forecast period (2024-2031).

Thyroid function tests are a series of blood tests used to assess how well the thyroid gland is functioning. This test is used to diagnose thyroid conditions like Graves' disease and Hashimoto's thyroiditis. It is used in a variety of industries, including hospitals and research laboratories. The rising number of patients suffering from thyroid disorders is expected to drive up demand for thyroid function tests. Furthermore, the growing geriatric population and increased awareness are driving the thyroid function test market, as adults are more susceptible to these disorders.

A blood test is used to assess the level of thyroid hormone production in the body by measuring TSH, T4, T3, and free T4 in a blood sample. Alcohol consumption, rising sedentary lifestyle adoption, and an increase in the prevalence of autoimmune disorders and diabetes are some of the significant factors expected to drive thyroid function test market growth during the forecast period. Furthermore, expanding collaborations among many key players to develop effective thyroid disorder detection tests are expected to fuel thyroid function test market growth during the forecast period.

US Thyroid Function Test Market is poised to grow at a sustainable CAGR for the next forcast year.