DUBLIN--(BUSINESS WIRE)--The "Global Endocrine Testing Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The Endocrine Testing market was valued at US$9.662 billion in 2020 and is expected to grow at a CAGR of 7.29% over the forecast period to reach a total market size of US$15.816 billion by 2027.
Globally, hormonal imbalances are increasing among individuals of all ages, which is driving the endocrine testing market. Increased disease incidence has prompted the development of advanced diagnostic technologies, which further increases the need for sophisticated testing methods.
While these technologies are likely to gain some attention in the market in the near future, significant costs associated with developing them could hamper their rapid commercialization, thus limiting the market's growth. Since endocrine testing tools are in high demand, market players are more committed to developing new products.
For example, DRG Diagnostics launched free T4 ELISA test kits in October 2018. This ELISA kit is intended to measure free thyroid hormone in human serum directly and quantitatively.
Globally, an increasing number of diabetics, geriatrics, and obese people should promote market growth globally. In addition, growing health awareness among individuals along with government support will increase the number of early diagnoses and thereby contribute to the growth of the endocrine testing market. The demand for advanced endocrine testing technologies is also expected to grow due to diseases such as hypothyroidism and hyperthyroidism.
Growth Factors
Tests to measure thyroid-stimulating hormone (TSH) are expected to grow the market
Pituitary-stimulating hormone (TSH) stimulates the production of thyroxine and triiodothyronine by the thyroid gland, which aids metabolism. The TSH test is used to determine thyroid levels. Over the past decade, thyroid disorders have increased worldwide. According to the American Thyroid Association (ATA), 20 million Americans are estimated to have some form of thyroid disease in 2019. More than 12% of US citizens are expected to suffer from thyroid disease at some point in their lives.
Smoking, alcohol consumption, and tobacco use are the most important risk factors for thyroid-related disorders. In a study conducted in November 2019 by researchers from the Department of Nephrology at the University of Groningen and University Medical Center Groningen, The Netherlands, findings showed that daily cigarette smoking was associated with lower levels of TSH and lower levels of FT4 and FT3.
Technology developments have allowed thyroid function tests to become more cost-effective, and thyroid hormone measurement has recently gained importance. As a result, the rise in TSH testing is expected to boost market growth for the global endocrine testing market.
The rise in the geriatric population worldwide
In addition to declines in growth hormone associated with ageing, changes in the endocrine system include menopause in women, skeletal mass loss, androgen deficiency in men, and an increased incidence of type 2 diabetes. The endocrine system undergoes a series of changes that affect the hormone levels of people as they age.
This is why the rise of the global geriatric population is one of the primary factors driving the endocrine testing market's growth. According to the United Nations (UN) data of World Population Prospects for 2019, the world's population will double within 30 years, from 7.7 billion to 9.7 billion, and at the same time, the world will age more rapidly.
Restraints
The High Cost of Technology
For endocrine testing manufacturers, the high cost of research and development activities and subsequent commercialization of tests represents a serious challenge. Thus, monitoring and diagnosing an individual's hormone secretion levels has become extremely expensive.
Roche, for instance, invested approximately USD 11.6 billion in research and development activities in the financial year 2019. A significant portion of Abbott Laboratories' revenues are invested in the research and development of novel products and technologies. As a result, the end product is very expensive, which adds to the cost of diagnostic technologies, which impacts the market negatively.
COVID-19: Impact on the Endocrine Testing Market:
There have been many studies demonstrating that people with thyroid disorders are more susceptible to the COVID-19 infection, thus creating a significant demand for endocrine tests worldwide to monitor thyroid hormone levels during the pandemic. Study findings published in January 2021, "Thyroid Function Analysis in 50 Patients with COVID-19: A Retrospective Study", indicate that TSH and TT3 levels are consistently lower with more severe COVID-19.
There was a positive correlation between the decrease in TSH and TT3 levels and the severity of the disease. Thus, a significant manifestation of COVID-19 treatment is the changes in serum TSH and TT3 levels. So, the pandemic triggered a surge in endocrine tests, which positively impacted the market.
Company Profiles
- Randox Laboratories Ltd
- Abbott
- Agilent Technologies, Inc
- bioMerieux SA
- Bio-Rad Laboratories, Inc
- F. Hoffmann-La Roche Ltd
- Beckman Coulter, Inc.
- Siemens Medical Solutions
- Thermo Fisher Scientific
Segmentation
By Technology
- Liquid Chromatography-Mass Spectrometry (LC-MS)
- Immunoassay
- ELISA
- Tandem Mass spectrometry
- Others
By Application
- Cortisol Test
- Human Chorionic Gonadotropin (HCG) Test
- Dehydroepiandrosterone Sulfate (DHEAS) Test
- Thyroid Stimulating Hormone (TSH) Test
- Prolactin Test
- Insulin
- Others
By End Users
- Hospitals and Clinics
- Diagnostic Centres
By Geography
- North America
- United States
- Canada
- South America
- Brazil
- Argentina
- Europe
- United Kingdom
- Germany
- France
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Asia Pacific
- China
- India
- South Korea
- Taiwan
- Thailand
- Indonesia
- Japan
- Others
For more information about this report visit https://www.researchandmarkets.com/r/wqc5fm
