“Global malaria diagnostics market is anticipated to reach USD 1,563.36 Million by 2030”, says Visiongain

29 November 2019
Pharma

Visiongain has launched a new pharma report ‘’Malaria Diagnostics Market Report 2020-2030’’ by Technology {Microscopy, Molecular Diagnostic Tests (Real-Time PCR (qPCR, Conventional PCR), Rapid Diagnostic Tests (RDTs)}, and Geography.

The global malaria diagnostics market is anticipated to grow at a lucrative CAGR of 5.7% and anticipated to reach USD 1,563.36 Million by 2030.

Owing to growing demand for malaria diagnostics and the introduction of new diagnostic techniques. Malaria is one of the most prevalent life-threatening diseases in tropical & subtropical areas due to low economic development, climate change, lack of healthcare services & lack of access to medical treatment.

Malaria is caused by the larvae of Plasmodium and spread by female anopheles. Malaria treatment requires microscopy identification and blood testing. There were an estimated 250 million malaria cases in 2015, which resulted in an estimated 627,000 deaths, according to the WHO. Accurate and early malaria diagnosis is crucial because patients recover quickly when care is started early and this has spurred innovation in diagnostic techniques. This has led to technological advances in rapid diagnostic test development and is the main driver of this market's growth.

The challenges facing this market are to speed up the acceptance of diagnostic testing and its use in malaria diagnosis. WHO has updated its malaria treatment guidelines and recommends that all suspected malaria cases need to be tested. International agencies have pursued programs to provide universal access to diagnostic kits.

This market is also driven by the increase in technological advances in diagnostic tools with the growing demand for care in malaria-endemic countries. One of the prime driving factors is the increasing demand for malaria diagnostic tools. In recent years, the World Health Organization (WHO) has shown renewed interest and determination to eradicate malaria cases in more than 35 countries by 2030. Worldwide, due to malaria, the WHO reported 216 million medical episodes and 445,000 deaths in 2016.

The need for different types of diagnostic tests therefore plays a vital role in the detection of clinically significant malaria cases, which is expected to increase demand for diagnostic tools to detect malaria. Factors like rising demand for low-cost diagnostic tools, however, may hinder market growth.

As confirmed by the World Health Organization (WHO), the tropical disease caused by female Anopheles mosquito, infected by the Plasmodium species, caused more than 4 million deaths worldwide in 2017. Statistics from the same source indicate that more than 219 million cases of malaria have been reported worldwide, with more than 92% of cases reported from Africa, 6% from South East Asia, and 2% from the Eastern Mediterranean. As a consequence, increasing incidence of disease is also expected to fuel future market growth.

In many Asian, Latin American, and African countries, such as Democratic Republic of Congo, Uganda, Peru, Columbia, and India, it is one of the leading causes of death. Malaria can cause low birth weights, stillbirths, and congenital infection during pregnancy. Advances in technology are also expected to be one of the market's key drivers. The growing demand & need for high-quality & cost-effective diagnostic methods are anticipated to boost adoption of technologically advanced instruments which can provide improved diagnostic access, especially in remote and rural locations.

One of the major driving factors of the market is investment by government & private investors to curb the prevalence of the disease. According to data published by WHO, private international investors and government authorities of endemic nations have invested approximately USD 3 billion in control and elimination of the disease in 2017. Over 300 million rapid diagnostic tests have been provided worldwide, mostly in the worst affected African countries.

Because of the rising disease burden, Africa is expected to lead the market. P. falciparum is the region's most common malaria parasite, responsible for an estimated 99% of all African cases. According to the WHO, Africa reported over 90% global malaria cases & malaria deaths. These facts are indicative of increasing malaria prevalence in Africa.

It is reported that the Southeast Asian market holds the second position, with India being the largest regional market share. In India, the diagnostic testing of the disease is primarily driven by microscopy testing in terms of volume. Growing understanding of the disease and growing private sector investment is expected to increase the need for diagnostic testing and care-based surveillance systems, thus boosting market growth.

Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations and launching new products in order to strengthen their position in the global malaria diagnostics market. Companies are also expanding their R&D, distribution, and management facilities in order to expand their business and to hold a competitive edge in the Malaria Diagnostics market.

The comprehensive market report features companies such as Abbott, Access Bio, Inc., Beckman Coulter, Inc., bioMerieux, Bio-Rad Laboratories, Inc., Leica Microsystems GmbH, Nikon Corporation, Olympus Corporation, Premier Medical Corporation Ltd, Siemens Healthineers, Sysmex Partec GmbH, Novartis AG, Thermo Fisher Scientific, among other prominent players. Also the research study offers market estimation and forecast for the period ranging 2020-2030 for global markets such as North America, Latin America, Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Russia, India, Japan, China, Australia, ASEAN, GCC and South Africa.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

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