Malaria Diagnostics Market Set for Rapid Growth | Trend and Demands 2018
Date: 2018-09-13   Author: Rahul Sankrityayan  Category: #industry

Malaria Diagnostics Market Set for Rapid Growth | Trend and Demands 2018

Global Malaria Diagnostics Market size is projected to experience significant growth from 2018 to 2024.

Malaria diagnostics market size should witness significant growth due to rising incidences of malaria across the globe. According to the World Health Organization (WHO), there are around 216 million cases of malaria in 91 countries across the globe. The alarming rise in the number of people suffering from malaria will increase the demand for disease diagnostics, propelling the business growth.

The rise in demand for malaria diagnosis and treatment in the developing regions of Asia Pacific and Latin America region will foster market growth opportunities. According to recent article by UNITAID, over 400 million treatments for malaria rapid diagnostic tests are required over the period of next three years in order to eliminate global prevalence of malaria. Also, the growing prevalence of malaria from the past few years has resulted in increasing malaria diagnostics procedures.

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High impact of malaria on global health has resulted in continuous technological advancements. Use of alternative diagnostics methods with superior performance and effective diagnostic solutions has resulted in increased adoption rate. The rising need for accurate diagnosis of malaria will also help propel the industry growth in the future.

Lack of awareness in developing countries about availability of malaria diagnostics poses to be a market expansion hindering factor. Moreover, the currently available diagnostic tests are outdated, proving to be road blockers in the path of adoption of advanced technology-based diagnostics tests.

The rapid diagnostic testing business segment is expected to show substantial amount of growth in the upcoming years. From the past few years WHO has been recommending confirmation of malaria cases by rapid diagnostic tests before the start of treatment. As a result, there has been increase in diagnostic testing for malaria in the past few years, driven by increase in rapid diagnostic tests in the public sector.

Middle East and Africa is expected to dominate the malaria diagnostics market in the forecast time frame owing to high prevalence of malaria and increasing government initiatives to control the malaria endemic. According to WHO, Africa region carries disproportionately large number of people with malaria, with maximum prevalence and deaths observed in Africa.

Indian malaria diagnostic market will show noticeable growth in the coming years. According to the World Malaria Report 2017, almost more than half the country population was at risk of getting affected by malaria in the year 2016. Developing healthcare facilities, increasing government initiatives and growing awareness among the people regarding malaria diagnosis and treatment will help in the industry growth.

Some of the key industry players include Abbott, Access Bio, bioMérieux SA., Bio-Rad Laboratories, Inc., Danaher (Beckman Coulter), Novartis AG, Premier Medical Corporation, Siemens Healthineers and Thermo Fisher Scientific. The players focus on strategic alliances and innovative product launches to expand their business across different geographies.

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Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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