Market Research Report
Malaria Diagnostics Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||661166|
|Published||Content info||114 Pages
Delivery time: 2-3 business days
|Malaria Diagnostics Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: February 1, 2019||Content info: 114 Pages||
The malaria diagnostics market is expected to register a CAGR of 4.5% over the forecast period. Factors that are responsible for the growth of this market include the growing demand for diagnostic tools in malaria-endemic regions, increasing technological advancements and efficient diagnostics, and scale-up of rapid diagnostic tests, and universal access to diagnosis.
The upsurge in technological advancements related to diagnostic tools with the increasing demand for treatment in malaria-endemic countries is also driving this market. The rising demand for diagnostic tools for malaria is one of the prime driving factors. In recent years, there has been a renewed interest and commitment by the World Health Organization (WHO) to eliminate the cases of malaria over 35 countries, by 2030. By 2016, WHO estimated 216 million clinical episodes and 445,000 deaths, due to malaria, globally. Thus, the need for different types of diagnostic tests plays a vital role in the detection of clinically-significant malarial cases, which is expected to increase the demand for diagnostic tools for malaria detection. However, factors, such as the rising demand for low-cost diagnostic tools may hinder the market growth.
Malaria is a serious life-threatening disease caused by a parasite, transmitted by the bite of infected anopheles mosquitoes. Infected mosquitoes transport the plasmodium parasite.
Microscopic Diagnostics is Expected to Hold the Highest Market Share in the Technology Segment
Microscopy has been the standard for malaria diagnosis since it was first introduced 100 years ago. When these tests are performed by professional hands and in the ideal settings, it performs well. According to the WHO estimations, approximately 204 million microscopic malaria tests were conducted globally. The leading number of these tests were performed in India with the highest burden of the disease in Southeast Asia.
Malaria parasites which include the parasites, such as the P. falciparum, P. malariae, P. ovale, and P. vivax, at different stages of life can be identified through this method. Furthermore, the parasite density can also be quantified to accordingly design treatment plans. Accurate diagnosis offered by molecular tests is contributing to its increasing adoption. Though a general lack of sustained investment in microscopy services means that the quality of results varies greatly, under typical field conditions, the performance of microscopy is compromised.
Middle East & Africa Expected to Retain Dominant in the Malaria Diagnostics Market
The MEA region is expected to retain the highest share in the market share over the forecast period, due to the rising investments by the developed countries, such as the United States and the United Kingdom, larger patient population, coupled with the rising focus of the WHO to reduce the mortality rate of malaria in the African countries. The United States accounted for 31% of the total funding for malaria elimination in Africa with an approximate funding of USD 800 million in 2016. In addition, the rising need for the early detection and increased awareness regarding malaria diagnosis are expected to propel the demand for the malaria diagnostics market in this region.
The malaria diagnostics market is moderately competitive and consists of several major players. In terms of market share, a few of the major players currently dominate the market. With the rising prevalence of diseases, a few other smaller players are also expected to enter into the market and hold a substantial share. Some of the major players of the market are Alere Inc., Abbott Laboratories, bioMerieux SA, Bio-Rad Laboratories Inc., and Premier Medical Corporation Ltd, among others.