The global Malaria Diagnostics Market size is projected to reach USD 1.2 billion by 2030, 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. Use of antimalarial treatments options that were abundantly
available in the African region were used for the management and control of
spread during the COVID-19 pandemic. The market noticed a significant boost
during the COVID-19 outbreak owing to the ever-increasing malaria cases in
addition to the COVID-19 virus.
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.
Related Press Release@ Malaria Diagnostics Market Report
Malaria Diagnostics Market Report
Highlights
- 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
- The molecular diagnostic tests segment 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 market in 2021 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
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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