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The global thyroid function test market was valued at approximately US$ 1.3 Bn in 2018.
It is projected to register a cumulative annual growth rate (CAGR) of more than 5% from 2019 to 2027, according to a new report published by Transparency Market Research (TMR) titled ‘Thyroid Function Test Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027.’ Expansion of the health care industry, increase in health care expenditure, government initiatives, rise in product approvals, and increase in patient population are projected to augment the global market from 2019 to 2027.
Development of health care infrastructure and high medical expenditure by governments in emerging markets, such as China and India, are likely to boost the thyroid function test market in Asia Pacific at a CAGR of around 6.5% from 2019 to 2027.Request Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=35750Increasing incidence of thyroid gland disorders to propel marketThe global thyroid function test market is majorly driven by increasing incidence of thyroid disorders such as hypothyroidism and hyperthyroidism.
Rise in the number of patients affected with autoimmune diseases (which is the major risk factor for thyroid disorder), such as Grave’s disease, is considered a major factor for consistent increase in incidence of thyroid disorder.
Organizations such as the World Health Organization (WHO) and the American Association of Clinical Endocrinologists (AACE) have stated that thyroid disorders are rapidly increasing, and they demand novel and effective thyroid therapeutics for treatment.
For instance, according to WHO estimates, thyroid disorders such as hypothyroidism, hyperthyroidism, and goiter are common conditions affecting more than 750 million people globally.
