Market Trends of Global Endocrine Testing Industry
This section covers the major market trends shaping the Endocrine Testing Market according to our research experts:
Thyroid Stimulating Hormone Testing (TSH) Anticipated to have Lucrative Growth
The factors driving the segment growth include the rise in the prevalence of thyroid conditions, initiatives for thyrocare, the rise in consumption of tobacco and alcohol, and technological advancements by the key players for the launch of innovative products, among others.
Thyroid-stimulating hormone (TSH) is produced by the pituitary gland and stimulates the thyroid gland to produce thyroxine and triiodothyronine, which helps in metabolism. TSH testing is used to measure thyroid levels. The burden of thyroid disorders is increasing across the globe. For instance, according to the study published in 'Frontiers in Endocrinology', titled ' The Burden of Hormonal Disorders: A Worldwide Overview With a Particular Look in Italy' in June 2021, The thyroid nodule, the most typical thyroid condition was found to be 19-68% of the general population globally, with women and the elderly having a higher frequency. Such a high prevalence of thyroid conditions is therefore expected to drive this segment growth.
In addition, in May 2022, Thyrocare Technologies Limited has launched its first Regional Processing Lab (RPL) in Nagpur, India to provide thyroid function test with speed and accuracy at affordable prices. Such initiatives in highly populated countries such as India will further drive the growth of this segment.
TSH measurement has recently gained importance in thyroid function testing mainly due to the technological developments in these tests facilitating cost-effective disease screening. TSH also introduced new definitions of subclinical hypothyroidism or hyperthyroidism, along with delivering biochemical treatment targets. Furthermore, advancements in product technologies, coupled with the growing affordability for healthcare, are fueling the market growth. Mass spectroscopy is now used along with liquid chromatography for accurate results, which will fuel the market growth over the forecast period.
North America is Anticipated to have Significant Share
North America is anticipated to have a significant share, owing to the factors such as well-established healthcare infrastructure, high prevalence of obesity, advancements in diagnostic technologies, and new product launches. The less physical activity and growing prevalence of thyroid disorders are anticipated to fuel the market growth.
According to the American Cancer Society in 2022, about 43,800 new cases of thyroid cancer (11,860 in men and 31,940 in women) and about 2,230 deaths from thyroid cancer (1,070 men and 1,160 women) will be reported in the United States. The high prevalence and deaths of thyroid cancer in the United States will therefore lead to increased thyroid care, thereby driving the market growth for endocrine testing in this region.
North America is likely to witness major growth in the coming years, owing to several initiatives, such as compulsory screening of newborns for congenital hypothyroidism, revolutionary research work on thyroid hormone function, cost-effective methods to detect thyroid cancer, promising research on Graves' disease, which is likely to further lead to improved prognosis, and new preventive treatments of thyroid diseases.
Moreover, in August 2021, Inito has introduced the home fertility test to the American market. The Inito device, used in conjunction with a smartphone app, is a home test that determines the actual levels of progesterone, luteinizing hormone, and oestrogen. This information is provided to users to help them make decisions regarding the conception process. Such launch of new products to the market in the United States is therefore expected to drive the market growth in this region.
Hence, owing to the above-mentioned factors, the market studied is expected to grow over the forecast period in the region.
