The global malaria diagnostics market size is projected to reach USD 998.85 million by 2026 expanding at a CAGR of 5.4%, according to a new report by Grand View Research, Inc. Rising prevalence of the tropical disease in endemic countries, development of novel diagnostic techniques, and rising investments by regional governments and private investors are expected to propel market growth. Malaria is one of the most widespread life-threatening diseases, commonly occurring in the tropical and subtropical regions due to changing climate, low economic growth, underdeveloped healthcare infrastructure, and lack of access to advanced treatment.
Increasing
number of government initiatives and investments by market participants are
also anticipated to fuel market growth in the near future. A large number of
malarial elimination programs are being undertaken by major companies to reduce
the disease prevalence. For instance, Novartis’s Malaria Initiative was aimed
at facilitating malaria elimination and control. Along with various
organizations, the company has provided non-profit treatment to 750 million
people across 60 countries. Thus, such initiatives are anticipated to
facilitate the development of novel technologies and aid in market penetration.
Full Research Report On Malaria Diagnostics Market Visit Here:
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Further key
findings from the study suggest:
- Conventional
usage of microscopic examination for detection of malarial parasite has
driven the microscopy technology segment
- RDTs are
anticipated to account for the largest revenue share owing to ease of
usage, convenience, and rapid diagnosis
- Molecular
diagnostic tests is projected to be the fastest-growing technology segment
during the forecast period owing to their accuracy and capability of
detecting low parasite count
- Africa led
the malaria diagnostics market in 2018 due to high disease incidence and
increased adoption of various malarial diagnostic techniques in the region
- Southeast
Asia also held a considerable revenue share in 2018 owing to high disease
reoccurrence and initiatives undertaken to curb malarial incidence
- Few key
companies include Access Bio, Inc.; Alere, Inc.; Premier Medical
Corporation Ltd.; Sysmex Partec GmbH; bioMérieux, Beckman Coulter, Inc.;
Siemens Healthcare; and Leica Microsystems
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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