The global malaria diagnostics market size is expected to reach USD 888.77 million by 2025 expanding at a CAGR of 4.5% during the forecast period, according to Grand View Research, Inc. Rising cases of tropical diseases, developments in diagnostic techniques, and rising investments by local government and private firms are factors propelling the market growth. Malaria is one of the most widespread life-threatening diseases, commonly occurring in the tropical and subtropical regions due to factors such as changing climate, underdeveloped healthcare infrastructure, and lack of advanced treatment options.
Technological advancements in diagnostic testing has been crucial in disease management. Increasing number of government initiatives and R&D investments by market players are anticipated to fuel market potential in the near future. A large number of programs are being undertaken by major companies in order to reduce disease prevalence. For instance, Novartis Malaria Initiative was aimed at facilitating malaria elimination and control. The company has provided treatment to 750 million people across 60 countries without any profit. Thus, such initiatives are anticipated to facilitate the development of novel technologies and aid in market growth.
Further key findings from the report suggest:
- Microscopy segment held the largest revenue share in 2017 due to wide usage of microscopic examination for the detection of malarial parasite
- Rapid Diagnostic Tests (RDTs) would gain a considerable market share in near future owing to ease of use, convenience, and faster diagnosis offered by this technique
- Molecular diagnostic tests are expected to witness the highest CAGR during the forecast period owing to their highly sensitive nature, accuracy, and capability of detecting low parasite count
- The Africa region led the global market in 2017 on account of high disease incidence and subsequent adoption of various malarial diagnostic techniques
- South East Asia held a considerable market share in 2017 owing to high disease reoccurrence and presence of a number of initiatives undertaken for disease control
- Key companies in the market are Access Bio, Inc.; Alere, Inc.; Premier Medical Corporation Ltd.; Sysmex Partec GmbH; bioM?rieux, Inc.; Beckman Coulter, Inc.; Siemens Healthineers; and Leica Microsystems GmbH.