Global Point of Care/ At - Home Thyroid Diagnosis Market Size, Trends & Analysis - Forecasts to 2026 By Type of Biomarkers (Complete Thyroid Profiling [Free T3, T4, TSH], Thyroid Peroxidase Antibodies [TPO/TPEX], Thyroglobulin Antibodies [TGAB], and Thyrotropin-Releasing Hormone [TRH]), By Application (Hypothyroidism [Hashimoto’s Disease], Hyperthyroidism [Graves’ Disease], and Other Applications), By Patient Gender (Male & Female Patients and Only Female Patients), By Product Type (At-Home Thyroid Diagnostic Kit, and At-Home Thyroid Sample Collection Kit), By Sample Collection Technique (Finger Prick and Blood Sample), Competitive Landscape, Company Market Share Analysis, and Competitor Analysis
Point of Care/ At-Home Thyroid Diagnosis Market Insights
After the corona virus hit the world, most healthcare organizations started indulging in promoting home-based testing methodologies for common lifestyle disorders. With the products such as home-basedsugar tests or home-basedblood oxygen tests, the industry is also witnessing a rising demand for home-basedthyroid testing kits or devices.Considering this trend, most of the point of care manufacturers have taken a keen interest in pro-actively launching home-basedtesting kits and also indulging in organic growth strategies such as product launch and geographical expansion through partnerships and collaboration.These rapid, highly portable, and compact home-based thyroid testscan give results for the diagnosis of hypo or hyperthyroidism. Some of the top companies involved in offering home-based diagnostic kits are Everlywell, Paloma, Lets Get Checked, and I m aware, among others.
The most vital or important part of the growth hormones are the thyroxine and triiodothyronine hormone and its secretory gland is called the thyroid gland. As per the latest statistics by the WHO, as of 2019, ~10% of the population residing in the US is living with some form of thyroid disorder, whereas awareness regarding the same is only known to half of these people. Hence, with the rising cases of thyroid patients, and increasing demand for point of care testing due to COVID-19 limitations on social distancing, the market for at-home thyroid diagnosis will be growing the fastest from 2021 to 2026.
These kits not only test the TSH level but also offer free T3 and free T4, along with thyroid antibodies test options such as Thyroid peroxidase antibodies (TPO/TPEX) and Thyroglobulin antibodies (TGAB). Furthermore, thyroid related disease has lately affected most of the female population who are aged above 60. Hence, the rising geriatric patient population across both developed and developing regions will also boost the demand for testing kits in the market. The major target for this type of test is middle-aged female patients, type 1 diabetic patients, newborn mothers, chain smokers, and those who have a strong genetic history of thyroid disorder. Moreover, female patients are more likely to live or acquire this disorder before or after pregnancy and the statistics say that they are almost 5-8 times more likely to have thyroid problems, with 1 in 8female patients developing thyroid disease during their lifetime
Point of Care/ At-Home Thyroid Diagnosis Market: By Type of Biomarkers
Based on the type of biomarker testing, the market is segmented into, complete thyroid profiling [free T3, T4, and TSH], Thyroid Peroxidase Antibodies [TPO/TPEX], Thyroglobulin Antibodies [TGAB], and Thyrotropin-Releasing Hormone [TRH]. However, owing to the high prevalence of hypo and hyperthyroidism, the market segment of complete thyroid profiling will be the dominant segment from 2021 to 2026.
Point of Care/ At-Home Thyroid Diagnosis Market: By Application
Based on application, the market is segmented intohypothyroidism (Hashimoto’s disease), hyperthyroidism (Graves’ disease), and other applications. Grave’s disease will be the largest segment as per the application outlook owing to the rising prevalence of hypothyroidism, the segment of hypothyroidism (Hashimoto’s disease) will be the largest in terms of revenue sales from 2021 to 2026.
Point of Care/ At-Home Thyroid Diagnosis Market: By Patient Gender
Based on the type of patient gender, the market is segmented into male & female patients and only female patients. Owing to the high prevalence of hypothyroidism in expecting female patients, in obese patients, and in geriatric patients, the market for only female patients segment will be growing the fastest from 2021 to 2026.
Point of Care/ At-Home Thyroid Diagnosis Market: By Product Type
Based on the type of product, the market is segregated into at-home thyroid diagnostic kit and an at-home thyroid sample collection kit. The at-home thyroid diagnostic kit will be the largest market segment as it provides the sample collection procedure and testing procedure all at home at a single location and patient’s comfort.
Point of Care/ At-Home Thyroid Diagnosis Market: By Sample Collection Technique
Based on the sample collection technique the market is explained in two forms namely, finger prick and blood sample technique. The market for finger prick will be the largest because most of the commercialized at-home testing products offer finger prick sample collection techniques and also it offers a minimally invasive way to diagnose or a screen thyroid disorder.
Point of Care/ At-Home Thyroid Diagnosis Market: By Region
As per the geographical analysis, the market can be classified into North America (the United States, Canada, and Mexico), Asia Pacific (India, China, Japan, Malaysia, Singapore, and Rest of Asia Pacific), Europe (Germany, United Kingdom, Italy, France, Spain, Netherlands, and Rest of Europe), Middle East & Africa (Saudi Arabia, United Arab Emirates, and Rest of the Middle East & Africa) and Central South America (Brazil, Argentina, and Rest of Central and South America).Based on the popularity of home-based or POC testing kits amongst most American users, and based on the increasing trend of product launches in the US and Canada, North America will be the largest market segment from 2021 to 2026. However, increasing prevalence of hypo and hyperthyroidism, the Asia Pacific segment will be growing the fastest with the highest CAGR value from 2021 to 2026. Also increasing stringent norms of COVID-19 pertaining to social distancing and high demand for a home consultation, this region poses as the most promising segment for market growth.
Point of Care/ At-Home Thyroid Diagnosis MarketShare andCompetitor Analysis
Everlywell, Paloma, LetsGetChecked, Imaware, Personal Diagnostics, PRIMA Lab SA, HomeCheck, healthconfirm, CVS Pharmacy, Doctorcall, Medichecks, PlushCare, Zavamed, Valuemed, and Thriva among others are the players in the point of care/ at-home thyroid diagnosis market.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Point of Care/ At - Home Thyroid Diagnosis Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Point of Care/ At - Home Thyroid Diagnosis Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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