The Thyroid Function Test (TFT) market in India is gaining significant traction as a crucial diagnostic tool for identifying thyroid disorders, which affect approximately 42 million people in the country. Despite its effectiveness in diagnosing thyroid conditions, only 34% of the rural population currently has access to diagnostic centers, limiting its widespread utilization. With a population of around 1.25 billion, this leaves a large portion of the population without timely access to vital healthcare services, especially in rural areas.
The demand for TFTs is primarily driven by the growth in healthcare facilities and advancements in the medical diagnostics sector across urban and semi-urban regions. This rise in healthcare infrastructure and medical diagnostics capabilities is expected to improve access to diagnostic tests in underserved rural areas, helping bridge the healthcare gap.
TFTs are becoming an essential part of preventive health checks, with increasing awareness about thyroid disorders leading to more people seeking regular screening. The growing healthcare investment, improved diagnostic tools, and expanding coverage of medical facilities are expected to fuel market growth and improve healthcare accessibility across India.
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Key Takeaways:
- Prevalence: Approximately 42 million people in India are affected by thyroid disorders, highlighting the demand for accurate diagnostic tools like TFT.
- Limited Access in Rural Areas: Only 34% of the rural population has access to diagnostic centers, hindering wider use of thyroid function tests.
- Market Drivers: Growth in healthcare infrastructure, medical diagnostics, and increasing awareness of thyroid disorders are key factors driving demand for TFTs.
- Potential for Expansion: Enhanced healthcare accessibility in rural areas will play a vital role in improving diagnosis and treatment of thyroid conditions.
Drivers and Trends
The cardinal factor fuelling growth of the India thyroid function test market is high prevalence of thyroid disorders in the country. During an epidemiology study across major cities in India, Kolkata was reported to have highest prevalence of hypothyroidism (21.67%) compared to other cities.
Over the past few years there have been significant advancements in the specificity and sensitivity of thyroid testing, which has impacted the treatment for thyroid disorders.
The Indian healthcare industry has witnessed significant advancements with regard to medical devices and pathological laboratory business segments. Domestic and international companies are entering into joint ventures and strategic agreements owing to increasing standardization, availability of human resources and high level of progress in medical technology.
India is witnessing various trends that are expected to bring substantial changes in the landscape of the healthcare industry in the subsequent years. Traditional health risks have been replaced by lifestyle diseases in the last two decades. Various conditions prevailing currently include hypothyroidism, cardiovascular disorders, diabetes, obesity and hypertension to name a few
Competitive Landscape
Some of the key players covered in the India thyroid function test market report include Sigma-Aldrich Co. LLC. (Merck & Co., Inc.), Beckman Coulter, Inc., (Danaher), Siemens Healthcare GmbH and Abbott Laboratories. The report offers insights on the various strategies related to software development, market consolidation initiatives and analyses the various market players’ specific strengths, weaknesses, opportunities and threats.
Key Segments Covered
By Test type:
- TSH
- T3
- T4
- FT3
- FT4
- Others
By End Use:
- Clinics
- Research Organizations
- Diagnostic Laboratories
- Hospitals
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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