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Global Malaria Diagnostics Market to Grow at a CAGR of 5.6% During 2022-2027, Aided by the Rising Incidences of Malaria Worldwide

According to a new report by EMR titled, ‘Global Malaria Diagnostics Market Report and Forecast 2022-2027’, the market attained a value of around USD 706.7 million in 2020. The market for malaria diagnostics is expected to further grow at a CAGR of 5.6% between 2022 and 2027.

The global malaria diagnostics industry is being driven by the growing prevalence of malaria among young children worldwide. In addition, the rapidly ageing population of the world is more susceptible to such diseases, which leads to increased morbidity and mortality rates. As a result, increased demand for quality diagnosis, treatment, and preventive solutions to combat malaria can be observed worldwide, especially in  malaria-endemic regions. Moreover, governments are increasingly collaborating with international organisations to raise awareness regarding malaria and the preventive strategies among the masses while also ensuring the supply of required medications in the affected areas.

The rising emphasis of the leading players in the development of efficient diagnostic technology by applying advanced clinical solutions is expected to positively impact the industry growth in the forecast period. For instance, in January 2019, Abbott Laboratories (NYSE: ABT) announced its plans to support and partner with the state government of Odisha in India, and a non-profit organisation, Malaria no more, to provide technology, expertise, and financial support in their efforts to curb the spread of malaria in the region. Under this collaboration, Abbott is supplying 1 million rapid diagnostic tests (RDTs) and technical expertise to enhance Odisha's malaria detection and management system. Furthermore, another leading pharmaceutical manufacturer, GlaxoSmithKline (NYSE: GSK), in January 2021, announced that its single-dose Kozenis (tafenoquine) has been accepted by the Australian Therapeutic Goods Administration (TGA) for use among the paediatric populations as a radical cure that focuses on the prevention of relapse of Plasmodium vivax (P. vivax) malaria. Kozenis, a single dose treatment, was approved by the TGA for administration in 16 years and older and is supported by a Phase 2b clinical study (TEACH) that evaluated the dosage of the medicine tafenoquine based on the bodyweight of children at the age of 6 months. Such developments are expected to positively impact the growth of the malaria diagnostics industry in the forecast period.

Market Breakup by Technology and Region:

  • The market is divided, based on technology, into microscopy, rapid diagnostics tests, and molecular diagnostic tests. Among these, molecular diagnostic tests can be further bifurcated, by type, into conventional PCR and real-time PCR.
  • Region-wise, the global market for malaria diagnostics can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for malaria diagnostics is being driven by the rapid increase in the incidences of malaria worldwide.
  • The rampant spread of malaria infections in malaria-endemic regions and incidences of severe malaria cases among young children are expected to enhance the demand for effective diagnostic solutions.
  • The increased government investments in the development of malaria prevention strategies is significantly aiding the industry growth.
  • The rising technological advancements and the development of improved diagnostic solutions to detect malaria are further propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for malaria diagnostics for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the products and major regions of malaria diagnostics.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global malaria diagnostics market are Access Bio Inc, Abbott Laboratories, Premier Medical Corporation Private Ltd., Sysmex Corporation, and bioMérieux SA, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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