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The Malaria Diagnostics Market is estimated to grow at a CAGR of 4.5% over the forecast period of 2023-2028, to garner a market size equivalent to $1.1 billion in 2028. The
progression of malaria into a fatal disease takes only a few days. So, the need
for diagnostic tests such as molecular diagnostic tests and rapid diagnostic
tests is high. Additionally, this form of disease finds aggressive
growth in low and underdeveloped regions with excessive rain concerns. Malaria
is caused by the infected Anopheles mosquito. As per WHO Findings, nearly
half of the entire world’s population is deemed at risk of this condition and an estimated 241 million people were confirmed to have malaria
in 2020 (85 countries). Due to the seriousness of the condition, efforts are
made by public and private players to increase the testing capacities, which in
turn would aid the growth of the
Malaria Diagnostics Market Drivers
Growing Support from Leading Government and Non-government Agencies:
A superior form of support in terms of fiscal and technological aid has been witnessed in the most afflicted regions where malaria is spread. As per a recent publication, nearly 63% of the entire funding (international) for malaria assistance is provided by the Global Fund 2020. An investment of nearly $16.4 billion for malaria control programs was provided by the same organization. This also aided in nearly 148 million case treatments.
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Tremendous Disease Burden Assisted by Alleviated Testing Capacity:
The disease burden of malaria runs incredibly high in tropical and under-developed regions.
Additionally, the risk population is high in the regions which
require superior care and diagnosis. Critically, the Global Fund predicts nearly 70% more confirmed cases during 2002-2020, had there been no
active control present. Additionally, authorities are increasing the budgetary
grants instead of the disease burden which positively impacts market
growth.
Product
Launch and Collaboration
The Major Players in the Market
The Major Players in the Malaria Diagnostic Market include Access Bio Inc., Abbott Labs, BioMeriux SA, Ortho Clinical Diagnostics, Thermofisher Scientific, Premier Medical Corporation, Siemens Healthineers, Bio-Rad Labs, KEMRI and Adva Care Pharma.
Mr. Venkat Reddy