Malaria Diagnostics Market Size, Share, Growth, Analysis, Trend, and Forecast Research Report by 2028

Reports And Data

Reports And Data

Growing need to eradicate malaria through diagnosis and treatment is expected to fuel market growth.

NEW YORK, NY, UNITED STATES, November 24, 2021 / — The global malaria diagnostics market size is expected to reach USD 1.1 billion by 2028, registering a CAGR of 6% over the forecast period, according to the latest report by Reports and Data. Major factor driving market revenue growth is growing need to eradicate malaria through diagnosis and treatment. Malaria is one of the most prevalent life-threatening diseases, affecting tropical and subtropical regions as a result of shifting climates, low economic development, underdeveloped healthcare facilities, and a lack of advanced treatment options.

According to the World Health Organization (WHO), 229 million cases of malaria were recorded globally in 2019, with 94 % of those cases occurring in the Africa region.

Malaria claimed the lives of an around 409,000 people worldwide in 2019. The most vulnerable population to malaria is children under the age of five, who accounted for 67 % of all malaria deaths worldwide in 2019. On the other hand, 31 countries accounted for most of the global malaria deaths in the same year. Deaths in malaria deaths in Nigeria, the Democratic Republic of the Congo, Tanzania, Mozambique, Niger, and Burkina Faso accounted for roughly 51% of all malaria deaths worldwide.

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WHO guidelines have recommended that all suspected malaria cases undergo a confirmatory test with microscopy or a Rapid Diagnostic Test (RDT) to confirm the diagnosis and WHO's "test, treat, and track" policy has supported this recommendation since 2012. Despite the fact that malaria continues to be a public health issue with over 300,000 children under the age of five dying each year, recent control efforts have significantly reduced the disease burden, especially in high-transmission areas of Africa. Introduction of RDT technology has prompted a shift in policy toward confirmatory testing, allowing malaria diagnosis in remote and resource-poor areas, which will propel revenue growth of the malaria diagnosis market.

In addition, growing demand for malaria diagnosis and treatment in Asia Pacific and Latin America will drive market growth. A recent UNITAID article estimates that over 400 million malaria rapid diagnostic test treatments will be needed over the next three years to eliminate global malaria prevalence.

Because of its enormous impact on global health, scientific advancements in malaria diagnosis have been made. Alternative diagnostics methods with more efficient diagnostic solutions are becoming more common. The rising demand for effective malaria diagnosis will also help the market growth in the future.

Lack of awareness about availability of malaria diagnostics in developing countries may restrain evenue growth of the market to a certain extent going ahead. Furthermore, existing diagnostic tests are outdated, making the introduction of new technology-based diagnostic tests difficult.

Market Overview:

The pharmaceutical and healthcare industries are among the fastest-growing sectors, particularly during the Covid-19 pandemic. The industry is vital for its life-saving medical innovation that improves people's health and quality of life in a country. Rapid technological advancements, continued growth in the biologics field, and an increase in medication manufacture and distribution all contribute to the pharma and healthcare industries' enormous growth. Rapid technological advancements include Artificial Intelligence (AI), blockchain, virtual reality, additive manufacturing, medical imaging and other Industry 4.0 technologies is revolutionizing pharma and healthcare industry. Pharmaceutical firms create jobs in technical assistance, scientific research, and production, as well as develop drugs to improve health, eradicate diseases, and extend life expectancy.

Competitive Landscape:

The global Malaria Diagnostics market research report provides a competitive strategy analysis portfolios to provide a better understanding of the competitive landscape. The report further discusses in depth the business strategies undertaken by key manufacturers on mergers and acquisitions, joint ventures, and collaborations. It sheds light on the companies holding largest market share in terms of revenue in the global Malaria Diagnostics market.

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Key companies profiled in the report are:

Abbott, Access Bio, bioMérieux SA., Bio-Rad Laboratories, Inc., Danaher (Beckman Coulter), Novartis AG, Premier Medical Corporation, Siemens Healthineers and Thermo Fisher Scientific.

Some Key Highlights in the Report:

• The microscopy segment is expected to register largest market share due to the technique's intermittent use for disease diagnosis.

• Rapid diagnostic tests accounted for considerable share in the malaria diagnostics market in 2020, owing to advantages associated with their use in diagnosis of malaria.

• The clinics segment of the malaria diagnostics market accounted for largest market share among other end user segments in 2020.

• The market revenue from Africa diagnostics market is expected to grow at a significant rate over the forecast period.

• Asia Pacific region is expected to hold considerable revenue share due to the ongoing technological research and development activities in the field of malaria diagnostics.

Segments covered in the report:

For the purpose of this report, Reports and Data has segmented the global malaria diagnostics market on the basis of technology, end user and region:

Technology Outlook (Revenue, USD Million; 2018 – 2028)

• Microscopy
• Rapid Diagnostic Tests (RDTs)
• Molecular Diagnostic Tests
o Conventional PCR
o Real-Time PCR (qPCR)

End-user Outlook (Revenue, USD Million; 2018 – 2028)

• Hospital
• Clinics
• Diagnostic Centres

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The report offers extensive summary of the top companies and also provides strategic recommendations for market players and new entrants to provide a competitive edge to the readers. The reports were collected using primary and secondary research methodologies.

Regional analysis covers:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

In addition to corporate strategy, Malaria Diagnostics market throws light on different properties to curb the progress of fuel or industry. The focus is more on applicable sales strategies to increase the company’s productivity to achieve higher economic performance. Research reports use effective graphical presentation techniques such as tables, charts, graphs, diagrams, and info graphics.

Important Coverage in the Malaria Diagnostics Market Report:

• Detailed analysis of Global Malaria Diagnostics Market by a thorough assessment of the technology, product type, application, and other key segments of the report
• Investigative study of the market dynamics including drivers, opportunities, restraints, and limitations that can influence the market growth
• Comprehensive analysis of the regions of the Malaria Diagnostics industry and their futuristic growth outlook
• Competitive landscape benchmarking with key coverage of company profiles, product portfolio, and business expansion strategies

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Finally, all aspects of the Malaria Diagnostics market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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Source: EIN Presswire