Malaria Diagnostics Market Growth Analysis Reveals Key Factors that Will Drive the Growth During Forecast Period 2020-2026
Pune, Maharashtra, India, September 10 2020 (Wiredrelease) Allied Analytics –:Global Malaria diagnostics market size was valued at $728,870 thousand in 2018, and is expected to reach $1,085,106 thousand by 2026, registering a CAGR of 5.1% from 2019 to 2026.
Malaria is a serious infectious disease, which can be lethal for the host if left untreated. Furthermore, it is transmitted through the bite of infected female Anopheles mosquito. The bite leads to spreading of Plasmodium parasites into the blood, which, in, turn spread to liver cells where they multiply at a fast rate to invade red blood cells. These parasites further grow and mature in red blood cells to form merozoites. These merozoites are responsible for rupturing of red blood cells to invade other red blood cells. This leads to fever, tiredness, vomiting, headaches, impaired consciousness, multiple convulsions, and abnormal bleeding. Hence, tests and procedures to identify the disease are necessary and are known as malaria diagnostics. There are different types of malaria diagnostics such as rapid diagnostic tests, microscopy, and molecular diagnostic tests.
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Based on product type, the rapid diagnostic tests segment held more than two-fifths of the total market share in 2018, and is expected to maintain its highest contribution in terms of revenue during the forecast period. However, the molecular diagnostics tests segment is expected to portray the fastest CAGR of 6.0% from 2019 to 2026. The report also analyzes the microscopy segment.
Based on end user, the clinics segment accounted for more than two-fifths of the total market share in 2018, and is expected to contribute its lead position throughout the forecast period. However, the diagnostic centers segment would witness the largest growth rate with a CAGR of 6.0% from 2019 to 2026. The research also discusses the hospitals segment.
Based on region, LAMEA held the highest market share in terms of revenue, accounting for more than 90% of the total market share in 2018, and is expected to maintain its highest contribution throughout the forecast period. However, Asia-Pacific is estimated to portray the highest CAGR of 6.1% during the forecast period. This is due to huge potential patient base along with increase in awareness regarding usage of antimalarial drugs. North America would witness a CAGR of 4.1% from 2019 to 2026.
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Key market players of the global malaria diagnostics market analyzed in the research include Abbott Laboratories, Atlas Medical, Access Bio, Inc., Bio-Rad Laboratories, Inc., Biomérieux SA, Novartis AG, Meridian Bioscience Inc., Premier Medical Corporation Pvt. Ltd., Olympus Corporation, and Siemens AG. They have adopted various strategies including partnerships, collaborations, agreements, mergers & acquisitions, and others to gain a strong position in the industry.
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