Rise in incidence of malaria, increase in healthcare expenditure among people, and surge in adoption of malaria diagnostics tools across the world fuel the growth of the global malaria diagnostics market. On the other hand, poor demand in underdeveloped countries restrains the growth to some extent. Nevertheless, development in emerging economies is expected to create a plethora of opportunities in the near future.
The global malaria diagnostics market accounted for $728,870 thousand in 2018 and is expected to reach $1,085,106 thousand by 2026, registering a CAGR of 5.1% from 2019 to 2026.
The rapid diagnostic tests segment to lead the trail by 2026
Based on product type, the rapid diagnostic tests segment accounted for more than two-fifths of the global malaria diagnostics market share in 2018, and is expected to retain its dominance by 2026. Surge in healthcare expenditure in developing countries has propelled the market growth. The molecular diagnostic tests segment, on the other hand, would register the fastest CAGR of 6.0% throughout the forecast period. Rising awareness among people regarding early diagnosis of malaria and the wide array of benefits offered by drug molecular diagnostic tests spur the growth of the segment.
Malaria is a serious infectious disease, which can be lethal for the host if left untreated. Furthermore, it is transmitted through the bite of infected female Anopheles mosquito. The bite leads to spreading of Plasmodium parasites into the blood, which, in, turn spread to liver cells where they multiply at a fast rate to invade red blood cells. These parasites further grow and mature in red blood cells to form merozoites. These merozoites are responsible for rupturing of red blood cells to invade other red blood cells.
Frontrunners in the industry-
- Access Bio. Inc.
- Siemens AG.
- Bio-Rad Laboratories, Inc.
- Premier Medical Corporation Pvt Ltd.
- Atlas Medical
- Biomérieux SA
- Meridian Bioscience Inc.
- Novartis AG
- Abbott Laboratories
- Olympus Corporation
The demand for malaria diagnostics is on the rise, owing to surge in malaria across the globe. Furthermore, rise in awareness initiatives by governments is another major factor that contributes to the growth of this market.
Onkar Sumant
Manager, Healthcare at Allied Market Research
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