Dublin, Aug. 27, 2020 (GLOBE NEWSWIRE) -- The "Malaria Diagnostics Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The global malaria diagnostics market is expected to register a CAGR of 4.5% over the forecast period.
Factors that are responsible for the growth of this market include the growing demand for diagnostic tools in malaria-endemic regions, increasing technological advancements and efficient diagnostics, and scale-up of rapid diagnostic tests, and universal access to diagnosis.
The upsurge in technological advancements related to diagnostic tools with the increasing demand for treatment in malaria-endemic countries is also driving this market. The rising demand for diagnostic tools for malaria is one of the prime driving factors. The tropical disease caused by female Anopheles mosquito, infected by the Plasmodium species caused over 435,000 deaths globally in 2017, as stated by the World Health Organization (WHO).
Statistics from the same source indicate that over 219 million cases of malaria were recorded globally, with over 92% cases being reported from Africa, 6% from South East Asia, and 2% from the Eastern Mediterranean regions. Thus, rising disease incidence is also anticipated to boost the market growth in futures.
Hence, the need for different types of diagnostic tests plays a vital role in the detection of clinically-significant malarial cases, which is expected to increase the demand for diagnostic tools for malaria detection. However, factors, such as the rising demand for low-cost diagnostic tools may hinder the market growth.
Microscopic Diagnostics Expected to Hold the Highest Market Share
Microscopy has been the standard for malaria diagnosis since it was first introduced 100 years ago. When these tests are performed by professional hands and in the ideal settings, it performs well. According to the WHO estimations, approximately 204 million microscopic malaria tests were conducted globally in 2017. The leading number of these tests were performed in India with the highest burden of the disease in Southeast Asia.
Malaria parasites which include the parasites, such as the P. falciparum, P. malariae, P. ovale, and P. vivax, at different stages of life can be identified through this method. Furthermore, the parasite density can also be quantified to accordingly design treatment plans. The accurate diagnosis offered by molecular tests is contributing to its increasing adoption. Though a general lack of sustained investment in microscopy services means that the quality of results varies greatly, under typical field conditions, the performance of microscopy is compromised.
Middle East & Africa Expected to Retain Dominance
The MEA region is expected to retain the highest share in the market share over the forecast period, due to the rising investments by the developed countries, such as the United States and the United Kingdom, larger patient population, coupled with the rising focus of the WHO to reduce the mortality rate of malaria in the African countries. P. falciparum is the most prevalent malarial parasite in the region, accounting for an estimated 99% of all cases in Africa.
According to the WHO, an estimated 92% of the global malaria cases and 93% of global malarial deaths were recorded in this region. These facts are indicative of the rising prevalence of malaria in Africa. In addition, the rising need for the early detection and increased awareness regarding malaria diagnosis is expected to propel the demand for the malaria diagnostics market in this region.
The malaria diagnostics market is moderately competitive and consists of several major players. In terms of market share, a few of the major players currently dominate the market. With the rising prevalence of diseases, a few other smaller players are also expected to enter into the market and hold a substantial share.
Some of the major players of the market are Alere Inc., Abbott Laboratories, bioMerieux SA, Bio-Rad Laboratories Inc., and Premier Medical Corporation Ltd, among others. For instance, bioMerieux has a vast network of distributors in more than 150 countries through 42 subsidiaries providing diagnostic solutions.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Demand for Diagnostic Tools in Malaria-endemic Regions
4.2.2 Increasing Technological Advancements and Efficient Diagnostics
4.2.3 Scale-up of Rapid Diagnostic Tests and Universal Access to Diagnosis
4.3 Market Restraints
4.3.1 Increasing Number of Malaria-free Countries
4.3.2 Rising Demand for Low-cost Diagnostic Tools
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Technology
5.1.1 Clinical Diagnostics
5.1.2 Microscopic Diagnostics
5.1.3 Rapid Diagnostic Tests (RDTs)
5.1.4 Molecular Diagnostics
5.1.5 Other Technologies
5.2.1 North America
5.2.4 Middle East & Africa
5.2.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Access Bio Inc.
6.1.2 Abbott Laboratories
6.1.3 bioMerieux SA
6.1.4 Ortho Clinical Diagnostics
6.1.5 Thermo Fisher Scientific
6.1.6 Premier Medical Corporation Pvt. Ltd.
6.1.7 Siemens Healthineers
6.1.8 Bio-Rad Laboratories Inc.
6.1.9 Nikon Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/1no854
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900