The global thyroid function test market is driven by an increase in the incidence of thyroid disease, rise in geriatric population, increase in obese, diabetic, and cardiovascular patients, and increase in disease awareness programs in developing regions. Furthermore, high healthcare investment and increase in awareness related to thyroid function test are expected to create new opportunities in developing countries. However, asymptomatic nature of thyroid disorders leads to large undiagnosed population, which in turn is expected to restraint the market during the forecast period.
How Research and Developments will Drive the Thyroid Function Test Market?
The thyroid function test market is projected to experience steady growth in the forthcoming years. There are certain aspects that are boosting the thyroid function test market which comprise of growing occurrence of thyroid disorders, rising intake of alcohol and tobacco, and an inactive lifestyle.
There are some developments have taken place in the thyroid function test market. For example, in May 2018, a commercial and bioinformatics company, Interpace Diagnostics Group stated that the enterprise has signed a contract with Vanderbilt University Medical Center. This agreement will allow all doctors in the system of Vanderbilt, have access to both ThyraMIR(R) and ThyGenX(R) for patients with unknown thyroid nodules.
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What are the Side Effects of Consuming Tobacco and Alcohol Regularly?
Globally, thyroid disorder has become a notable public health concern. The root cause or risk factors consist of environmental exposures, genetic background, scarce in iodine intake, in contact with polychlorinated biphenyls. Along with these, medical and nuclear fallout radiation, and tobacco and alcohol intake can also be the root cause of this disorder. According to the American Thyroid Association, in 2017, nearly 0.02 bn citizens of the United States have a thyroid disorder.
Rising tobacco and alcohol intake have driven the thyroid function test market. Moreover, the intake of alcohol is measured to be one of the most substantial risk aspects for disability and disease. Worldwide, high revenue economies of the emerged regions have the highest percentage of intaking alcohol. It is noted that 50.1% of America’s population who are adults over 18 years of age are regular alcohol consumers. According to several studies, the hypothalamic-pituitary-thyroid (HPT) axis have some kind of negative relationship between them due to chronic alcoholism.
Consumption of alcohol obstructs the peripheral thyroid hormones, this frees T4 and T3, and deplete the activity of type II 5’-deiodinase. This further depletion impacts the metabolic function, leading to the growth of hypothyroidism. Intake of tobacco also bring some changes in thyroid function tests, such as the surge in thyroid hormones and reduction in TSH. Additionally, smoking tobacco plays an essential part in the autoimmunity of the thyroid. There are some researches that prove the substantial effect on Graves’ hyperthyroidism, mainly on Graves’ orbitopathy due to smoking tobacco. Other factors driving the thyroid function test market are the sedentary lifestyle of today’s evolved people and growing incidence of thyroid disorders.
Why Lack of Expertise will Hinder the Growth of The Thyroid Function Test Market?
Lack of expertise, especially, endocrinologists are projected to hinder the development of the thyroid function test market. Endocrinologists take up an essential part in treating patients with some of the most prevalent and complex conditions facing the North American countries these days. Currently, there are less than 6,500 endocrinologists are able to treat the millions of people who have osteoporosis, thyroid disease, diabetes, and many more hormonal diseases. Also, the pay scale for any endocrinologists is low than any other inner body specialist. And, this factor is expected to restrict the development of the thyroid function test market. Nevertheless, raising awareness for thyroid and growing occurrences of the chronic disorder is projected to fuel the growth of the thyroid function test market in the upcoming years.
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Which Region is Projected to Lead the Thyroid Function Test Market? And, Why?
North America is projected to dominate the thyroid function test market, due to the occurrence of thyroid disorder in the U.S. In 2015, according to the National Cancer Institute, there were nearly 766,000 individuals breathing with thyroid cancer in America. The United States is also expected to experience major growth, on the accounts of several initiatives taken. The initiative is, for example, the mandatory scanning of newborns for congenital hypothyroidism, ground-breaking research work on hormone function of the thyroid. Along with these, the cost-effective approaches to identify thyroid cancer, promising research on Graves’ disease, and many more which could help the individual of the economy. This initiative may additionally lead to improved projection and new preventive techniques of thyroid diseases which will drive the thyroid function test market.