Malaria Diagnostics Market is anticipated to rise at a CAGR of 4.8% from 2020 to 2030
The Global Malaria Diagnostics Market size is estimated to be USD 696.9 million in 2019 and is predicted to reach USD 1,167.3 million by 2030 with a CAGR of 4.8% from 2020-2030. Malaria is one of the most common diseases transmitted by female anopheles mosquito and is caused by Plasmodium parasites. A number of different type treatment are available for the treatment of malaria however, continuously increasing number of death due to the disease has acquire the attention for the disease. In 2012, According to the World Health Organization, 203 million cases of malaria were diagnosed, and approximately 0.66 million deaths were occurred across the globe. It is important for accurate and early diagnosis of malaria as the patients recover rapidly if early diagnosed. In sever condition it may causes death.
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Market Dynamics and Trends:
The major driving factors for the global malaria diagnostics market are increasing prevalence of malaria, technological advancements in diagnostic tests and increasing government funding for research & development. QBC technique, serological tests, and peripheral blood smears are some of the most widely used technique for diagnosis of malaria. Additionally, artemether-lumefantrine (Coartem), chloroquine, quinine, clindamycin, atovaquone-proguanil (Malarone), mefloquine (Lariam), and quinidine are some of the majorly used drug for the treatment.
Additionally, rising technological advancement in diagnostic, increasing healthcare spending and rising per capita income have boosted the growth of the market. The advancement in technologies has revolutionized malaria diagnosis and increasing demand for the diagnostic procedures have supported the growth of the market. Rising government funding in healthcare industry, coupled with the increasing investment in R&D is projected affect the growth of the malaria diagnostics market positively. The challenges faced by the global malaria diagnostics market strict regulatory regulations, long approval time, and high cost of research & development. Rapid Diagnostic Tests (RDT’s) is most widely used testing for the diagnosis process. Whereas Molecular diagnostics and detection will be the fastest growing diagnostic test for malaria.
Market Segmentations and Scope of the Study:
The global malaria diagnostics market share is analyzed on the basis of technique and end user. On the basis of technique, the global malaria diagnostics market is segmented into Rapid Diagnostic Tests (RDT), molecular diagnostics, microscopy, and others. On the basis of the end user, the global malaria diagnostics is categorized into hospitals & laboratories, ambulatory centers, and other. The regional analysis of the market comprises of North America, Europe, Asia Pacific, and Rest of the World.
Geographical Analysis:
Asia Pacific and RoW dominate this market, as the prevalence of malaria is high in these regions. Africa has a high prevalence of malaria and majority of deaths are reported in these regions.
North America dominates the global malaria diagnostics market during the forecast period 2019-2030 owing to the presence of well-established diagnostic infrastructure and technological improvements in the field of diagnostics. Asia Pacific malaria diagnostics market is expected to drive significantly during the forecasted period 2020-2030 owing to the presence of huge patient pools and high unmet clinical needs. Europe malaria diagnostics market is driven by rising incidences of lifestyles and infectious diseases.
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Competitive Landscape:
Major players in the malaria diagnostics market are: Access Bio, Inc., Bio-Rad Laboratories, Inc., Beckman Coulter, Inc., Abbott, BioMerieux, Novartis Diagnostics, Lumora, Premier Medical Corporation Ltd., Sysmex Partec GmbH, Siemens Healthineers, Nikon Corporation, Olympus Corporation, and others.