Malaria Diagnostics Market is Booming Market to Grow at Healthy CAGR forecast

Posted by kelvindbmr on April 27th, 2021

Global malaria diagnostics market is expected to an estimated value of USD 1063.92 million by 2026, registering a substantial CAGR in the forecast period of 2020-2026. Malaria is usually caused by the plasmodium parasites and spreads through infected anopheles mosquito. It is one of the life-threating diseases.

Key Market Competitors: Global Malaria Diagnostics Market

Few of the major competitors currently working in the global malaria diagnostics market are ACCESS BIO. INC, Abbott, bioMérieux SA, Ortho Clinical Diagnostics, Thermo Fisher Scientific, PREMIER MEDICAL CORPORATION PVT LTD, Siemens Healthcare Private Limited, Bio-Rad Laboratories, Hemex Health, QuantuMDx Group Ltd, Meridian Bioscience Europe B.V., Intellectual Ventures Management, LLC., Novartis AG, BD, FYODOR BIOTECHNOLOGIES, Drucker Diagnostics and others

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Malaria diagnostics are the instrument and methods which are used to treat this disease. Some of the common malaria diagnostics technologies are molecular diagnostic test, microscopy and rapid diagnostics tests. If treatment is started early, this disease can be cured easily. Rising demand for advanced treatment for malaria among population is fueling the growth of this market.

Segmentation: Global Malaria Diagnostics Market

•          By Technology (Microscopy, Rapid Diagnostics Test (RDTs), Molecular Diagnostics Tests)
•          By End-User (Hospitals, Clinics and Community Healthcare)
•          By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

Competitive Analysis: Global Malaria Diagnostics Market

Global malaria diagnostics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of malaria diagnostics market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Market Drivers

•          Rising demand for diagnostic tool in malaria- endemic country will drive the market growth
•          Technological advancement and development in malaria diagnostic tool will also propel the growth of the market
•          High investment by government to curb the disease prevalence is also driving the market growth
•          Increasing awareness among population about malaria will also drive the growth of this market

Market Restraints

•          Increasing number of malaria free countries will restrain the market growth
•          Rising demand for low cost diagnostic tool will also hamper the growth of the market