Global malaria diagnostics market is expected to reach USD 180.0 million by 2022, according to a new report by Grand View Research Inc. The global malaria diagnostics market is projected to grow rapidly in the next few years. Some key factors supporting the industry’s growth are increasing demand for malaria diagnostics in malaria endemic countries, development of technologically advanced and efficient products, and awareness of the disease among the population.
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However, increasing number of countries in malaria elimination phase is one of the key factors hindering the growth of the industry. Additionally, the rising demand for low-cost diagnostics tests is likely to further restrict the growth of the industry in the near future.
The malaria diagnostics market by technology is categorized into microscopy, rapid diagnostic tests, and others. The RDT malaria diagnostics industry is anticipated to grow at the highest CAGR over the forecast period. High sensitivity, quick results, and less skilled workforce are some of the factors driving this market growth. On the other hand, microscopic malaria diagnostics market, by volume, is projected to grow at a significant CAGR of 3.7% during the period 2015 to 2022.
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Further key findings from the study suggest:
- Africa is estimated to dominate the malaria diagnostics market in terms of volume, with a share of around 58% in 2015. The region is estimated to account for highest disease burden owing to several factors including local weather conditions, poverty, high distribution of P. falciparum, socio-economic instability, and under developed healthcare system among others.
- The RDT malaria diagnostics market, in terms of value, is anticipated to grow rapidly at the highest CAGR of 4.1% during the review period. As of 2015, the industry is estimated to be led by Africa owing to the highest disease burden as well as limited access of microscopy services in the underprivileged parts of the region.
- The microscopy is estimated to account for the largest share in the MD market by technology. As of 2013, over 190 million patients were screened by this method. The microscopic malaria diagnostics market was estimated to be led by India, which accounted for over 120 slide examinations in 2013.
- Some major players of this market include Access Bio Inc., Alere Inc., Premier Medical Corporation, bioMerieux, and Beckman Coulter Inc.
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