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 industry was estimated at $728,870 thousand in 2018, and is expected to hit $1,085,106 thousand by 2026, registering a CAGR of 5.1% from 2019 to 2026.
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Surge in prevalence of malaria across the world, rise in healthcare expenditure, and surge in adoption of advanced diagnostics drive the global malaria diagnostics market. However, less demand from underdeveloped countries hinders the market growth. On the other hand, untapped potential in emerging economies create new opportunities in the next few years.
Based on region, LAMEA held the highest market share in terms of revenue, accounting for more than 90% of the total market share in 2018, and is expected to maintain its highest contribution throughout the forecast period. However, Asia-Pacific is estimated to portray the highest CAGR of 6.1% during the forecast period. This is due to huge potential patient base along with increase in awareness regarding usage of antimalarial drugs. North America would witness a CAGR of 4.1% from 2019 to 2026.
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.
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. This leads to fever, tiredness, vomiting, headaches, impaired consciousness, multiple convulsions, and abnormal bleeding. Hence, tests and procedures to identify the disease are necessary and are known as malaria diagnostics. There are different types of malaria diagnostics such as rapid diagnostic tests, microscopy, and molecular diagnostic tests.
LAMEA to maintain the top status till 2026, North America to grow at the third highest CAGR-
Based on geography, LAMEA contributed to 94% of the global malaria diagnostics market revenue in 2018, and is anticipated to maintain the lion’s share till 2026. At the same time, the Asia-Pacific region would showcase the fastest CAGR of 6.1% during the study period. Surge in awareness regarding the use of antimalarial drugs in this region has propelled the growth. However, North America would register a CAGR of 4.1% by 2026.
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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
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