Thursday, 2 July 2020

Malaria Diagnostics Market Forecasts By Industry Drivers, Regions Till 2023

Market Scenario
The global malaria diagnostics market is expected to register a significant growth of 4.6 % CAGR during the forecast period (2018–2023)
Malaria is a serious life-threatening disease caused by a parasite, transmitted by the bite of infected anopheles mosquitoes. Infected mosquitoes transport the Plasmodium parasite. When the infected mosquito bites you, the parasite is released into your bloodstream. Once the human body becomes the host for the parasite it travels to the liver and matures. After some days, the mature parasite enters the bloodstream and starts to infect red blood cells (RBC). Humans suffering from malaria frequently experience fever, headache, weakness, vomiting
The improvements in technological advancements related to diagnostic tools with the growing demand for treatment in malaria-endemic countries is driving this market. Major factors driving the growth of the market are raising funds from the government, an increase in association between the industry and research centers. In the current years, there has been a renewed interest and commitment by the World Health Organization (WHO) to eradicate malaria in around 35 countries by 2030. World Health Organization (WHO) also estimated that by 2016, there would be 216 million clinical episodes and 445,000 deaths only due to malaria. The malaria diagnostic tests play a major role in recognizing the malarial cases and thus boosting the growth of malaria diagnosis market.
However, the dearth of appropriate monitoring standards at the country levels particularly in developing markets hinders the growth of the market. The weak regulatory framework and lack of awareness across the emerging nations is a prime concern for the manufacturers and healthcare providers. The absence of strong import export guidelines can lead to the use of substandard products that can lead to additional complications for patients. Besides, the long registration procedures, the market entry parameters must be assessed carefully for investment considerations.
Segmentation
The global malaria diagnostics market has been segmented on the basis of technology and end-user.
On the basis of technology, the market has been classified as rapid diagnostic tests, microscopy, and molecular diagnostic tests. The molecular diagnostics tests are segmented into polymerase chain reaction (PCR) and real-time polymerase chain reaction (RT-PCR).
On the basis of end-users, the market has been classified as hospitals, clinics, community healthcare, and others.
On the basis of region, the market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas has been further segmented into North America and South America, with the North American market divided into the US and Canada.
The European malaria diagnostics market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. 
The malaria diagnostics market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The malaria diagnostics market in the Middle East and Africa has been segmented into the Middle East and Africa. 
Regional Market Summary
In the malaria diagnostics market, North America is anticipated to account for the largest market share due to the early adoption of advanced medical technologies, the rise in awareness, the rise in growth of the healthcare sector, and due to favorable compensation setting for many surgical procedures. In 2016, global governments of malaria-endemic countries have invested USD 2.7 billion in malaria control and elimination efforts. The US was the largest contributor by providing USD 1 billion for the eradication of malaria.
The European market is expected to hold the least share due to the growing number of malaria-free countries in the region.
The malaria diagnostics market share in Asia-Pacific is also projected to experience growth in the near future due to access to optimal treatment facilities and growing demand for advanced technology, better adoption rate, increase in disposable income, and rising medical tourism. The Asia-Pacific remains to be the second largest burden of malaria globally with 22 malaria-endemic countries accounting for roughly 28 million cases and 45,000 deaths every year. The WHO figures say that in the Asia-Pacific region, Myanmar, Pakistan, India, and Indonesia carry the highest malaria burden accounting for 89% of all malaria cases in the region.
The market in the Middle East and Africa is expected to account for the smallest share of the global malaria diagnostics market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities. Sub-Saharan Africa remains to bring an excessively high share of the global malaria burden on the Middle Eastern and African market. the region was home to 90% of malaria incidences and 92% of malaria deaths in 2015
Key Players
Some of the key players in the global malaria diagnostics market are Access Bio. Inc., Abbott Laboratories, Premier Medical Corporation Pvt. Ltd, Sysmex Partec GmbH, bioMérieux, Beckman Coulter Inc., Siemens Healthineers, Leica Microsystems GmbH, Nikon Corporation, Olympus Corporation, and Bio-Rad Laboratories Inc.
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