Thyroid Function Testing Market to Hit USD 2.74 Billion by 2032, Driven by Rising Thyroid Disorder Prevalence and Technological Advancements – SNS Insider

Increasing global thyroid disease burden, geriatric population growth, and automation in diagnostic laboratories fuel steady 5.58% CAGR growth in thyroid function testing industry.

Austin, April 25, 2025 (GLOBE NEWSWIRE) -- According to SNS Insider, The global Thyroid Function Testing Market was valued at USD 1.68 billion in 2023, is forecasted to grow steadily and reach USD 2.74 billion by 2032, expanding at a CAGR of 5.58%. The increasing prevalence of thyroid diseases such as hypothyroidism, hyperthyroidism, and thyroid cancer, coupled with the rise in elderly populations worldwide, are the primary drivers of this market’s expansion.

The U.S. thyroid testing market was valued at USD 0.50 billion in 2023 and is forecasted to reach USD 0.79 billion by 2032, supported by widespread screening campaigns and a high prevalence of thyroid disorders.

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Market Overview

Thyroid function tests are the main diagnostic tools used to evaluate thyroid gland performance and spot related disorders. The rising frequency of autoimmune thyroid disorders and thyroid malignancies is one of the main forces for market development. As awareness efforts from government projects for early thyroid dysfunctions and health organizations enhance knowledge of this issue, routine thyroid screening is in more demand.

Rising incidence of thyroid illness in the United States and a strong diagnostic system have driven consistent market expansion here. Although more than 20 million Americans suffer from some type of thyroid disease, the American Thyroid Association estimates that as many as 60% of Americans are misdiagnosed. Labs and medical professionals are driven to use dependable, quicker diagnostics by this discrepancy. Along with new technologies like chemiluminescence immunoassays (CLIA), point-of-care (POC) tools will help to simplify and speed thyroid testing.

Key Thyroid Function Testing Companies Profiled in the Report

• Abbott (Architect TSH Assay, Free T4 Assay)
• Siemens Healthineers (ADVIA Centaur TSH, IMMULITE 2000 Free T4 Assay)
• Roche Diagnostics (Elecsys TSH, Elecsys Free T3)
• Beckman Coulter, Inc. (Access TSH, Access Free T4)
• Bio-Rad Laboratories , Inc. (Lyphochek Immunoassay Plus, Liquichek Specialty Immunoassay Control)
• DiaSorin S.p.A. (LIAISON TSH, LIAISON Free T4 Assay)
• Ortho Clinical Diagnostics (VITROS TSH Assay, VITROS Free T3)
• Thermo Fisher Scientific . (ELISA Thyroid Panel, ImmunoCAP TSH Assay)
• Randox Laboratories Ltd. (TSH Ultra Assay, Free T3 ELISA Test)
• Euroimmun AG (EUROLINE Autoimmune Thyroid, ELISA Thyroglobulin Antibody)
• Immunodiagnostic Systems Holdings PLC (IDS) (IDS-iSYS Free T4, IDS-iSYS TSH)
• Boditech Med Inc. (Ichroma TSH, Ichroma Free T4)
• Zivak Technologies (TSH ELISA Kit, Thyroid Function Panel)
• Snibe Diagnostic (MAGLUMI TSH, MAGLUMI FT4)
• DRG International, Inc. (DRG Free T3 ELISA, DRG TSH Ultra-Sensitive)
• NovaTec Immundiagnostica GmbH (NovaLisa TSH, NovaLisa Free T4)
• Seramun Diagnostica GmbH (Serazym TSH ELISA, Serastest Free T3)
• Gold Standard Diagnostics (Thyroid Stimulating Hormone Rapid Test, ELISA Free T4)
• MP Biomedicals (TSH ELISA Kit, Triiodothyronine (T3) Assay)
• Quidel Corporation (Sofia Free T4 FIA, QuickVue TSH Test)

Thyroid Function Testing Market Report Scope

Report Attributes	Details
Market Size in 2023	US$ 1.68 billion
Market Size by 2032	US$ 2.74 billion
CAGR	CAGR of 5.58% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Regional Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)

Segment Analysis

By Test Type:

In 2023, the TSH (Thyroid-Stimulating Hormone) test held the largest market share at 42.21%, dominating the test type segment. This dominance can be attributed to the TSH test's critical role in the initial screening and monitoring of thyroid function disorders. As the primary marker for diagnosing hypothyroidism and hyperthyroidism, the test’s reliability, cost-effectiveness, and widespread clinical acceptance have reinforced its top position.

Meanwhile, Free T4 (Thyroxine) is the fastest-growing segment in this category. The increasing clinical need to confirm thyroid dysfunction after an abnormal TSH test and its enhanced accuracy in evaluating thyroid hormone levels are fueling its adoption. The Free T4 test provides more specific information regarding thyroid hormone production and is becoming integral in follow-up diagnostics.

By End-Use:

Hospitals dominated in 2023 with a thyroid function testing market share of 38.45%. Hospitals remain the most preferred testing centers due to their ability to offer comprehensive thyroid panels, quick turnaround times, and access to advanced laboratory infrastructure. Additionally, the integration of electronic medical records (EMRs) in hospital settings supports efficient test result analysis and patient management.

Diagnostic Laboratories emerged as the fastest-growing end-use segment. The growing trend of outsourcing diagnostic testing to specialized labs due to cost efficiency, high-throughput capabilities, and home collection services is driving this growth. These labs are increasingly favored for follow-up thyroid function testing and routine screening programs.

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Thyroid Function Testing Market Segmentation

By Test Type

• TSH Test
• T4 Test
• T3 Test
• Free T4 Test
• Free T3 Test
• Others

By End-Use

• Clinics
• Diagnostic Laboratories
• Hospitals
• Research Laboratories & Institutes

Regional Analysis

North America led the global thyroid function testing market in 2023, capturing 43.42% of the overall share. This leadership is driven by high disease awareness, supportive reimbursement policies, and the presence of major diagnostic firms. The U.S., in particular, has witnessed a rise in thyroid screening initiatives, especially among women and the elderly.

Asia Pacific is anticipated to have the fastest growth throughout the forecast period. Rising healthcare investments, an expanding middle-class population, and growing awareness of thyroid health in countries such as India, China, and Japan are major contributors. Additionally, the proliferation of diagnostic chains and improved access to medical services are further fueling market growth in this region.

Recent Developments in the Thyroid Function Testing Market

August 2024: Siemens Healthcare releases the Atellica CI Analyzer in India at Mahajan Imaging & Labs. It has microvolume testing appropriate for pediatric and critical care and provides quick results for thyroid tests.

Beckman Coulter received FDA 510(k) clearance in September 2023 for its Access Thyroglobulin Antibody II test, which is intended to make it easier to accurately diagnose thyroid issues such as Hashimoto's disease and Graves' disease.

Statistical Insights and Trends Reporting

• An estimated 200 million people worldwide were living with some form of thyroid disorder in 2023, with hypothyroidism being the most common condition.
• North America recorded the highest testing rates per capita, followed by Europe and Asia Pacific, reflecting higher screening frequency and preventive healthcare infrastructure.
• The annual test volume is projected to increase from 670 million in 2020 to over 1.1 billion by 2032, due to broader insurance coverage and growing awareness.
• Women accounted for nearly 65% of all thyroid function tests conducted in 2023, given their higher susceptibility to thyroid disorders, particularly during pregnancy and menopause.

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Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Incidence and Prevalence of Thyroid Disorders (2023-2032)

5.2 Testing Volume Trends by Region (2023-2032)

5.3 Adoption of Automated and Point-of-Care Testing (2023-2032)

5.4 Healthcare Expenditure on Thyroid Function Testing (2023), by Region

5.5 Regulatory Approvals and Standardization of Thyroid Function Tests (2023-2032)

6. Competitive Landscape

7. Thyroid Function Testing Market by Test Type

8. Thyroid Function Testing Market by End-USe

9. Regional Analysis

10. Company Profiles

11. Use Cases and Best Practices

12. Conclusion

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