In 2010, WHO recommended microscopy or rapid diagnostic test as a standard test for malaria detection and treatment. Microscopy was earlier established as a gold standard for malaria testing. However, microscopy testing required quality clinical researchers, laboratory infrastructure, and other resources which were inaccessible in most remote places. Additionally, WHO also put forth an ambitious global goal to eliminate malaria in at least 35 countries by 2030 end
At the time of announcement, rapid malaria testing market offered several testing methods, which had been proven effective, reliable, and expanded malaria testing significantly. Due to proven innovations in malaria rapid diagnostics devices market, the number of tests conducted worldwide went from 48 million in 2008 to 319 million in 2013. The malaria rapid diagnostics devices market is poised for further expansion, as the rapid tests promise to reach every malaria-ridden patient on the planet through easy-to-use, reliable, and accessible commercial opportunities.
The report on malaria rapid diagnostics devices market is aimed at helping readers discover the prevailing trends and gauge future opportunities. It includes the most insightful data regarding growth opportunities and key threats. In-depth analysis on prevailing competitive threat is also a crucial part of the malaria rapid diagnostics devices market report.
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Global Malaria Rapid Diagnostics Devices Market: Key Trends
Growing demand for diagnostics in nations with widespread prevalence of malaria, technological advancements in diagnostic devices and techniques, and increasing investment led by public and private initiatives are expected to drive the market.
Malaria is often found in countries where there is low economic growth, experiences extreme weather changes, and tropical conditions. Additionally, ill-prepared health care systems and lack of access to advanced tools make the diagnostics and treatment nearly impossible. The global malaria rapid diagnostics devices market is expected to serve these countries really well as the new technologies are extremely cost-effective. According to a report by the Global Fund, costs of testing had dropped by nearly 50% between 2010 and 2014. Currently, ex-factory price for per malaria test by major players were as low as US$0.18.
Additionally, global initiatives such as the one by Melinda and Gates foundations have focused on working with most afflicted target groups to fuel growth of the global malaria rapid diagnostics devices market. Countries like India, Uganda, Congo, Columbia, and groups of people such as pregnant women are especially at risk from widespread malaria infections. Additionally, malaria causes low birth, still births, and congenital infections in pregnant women, increasing the death toll further.
Global Malaria Rapid Diagnostics Devices Market: Key Potential
In order to gain a leading share in the market, vendors are working towards launching high-performing and cost-effective rapid diagnostics devices. This trend is welcomed by patients, who often hail from underdeveloped region. For instance, the availability of devices like the RDT cassette has helped in the market’s growth. As per recent WHO reports, over 3 billion in funds are available for eradication of malaria globally. This trend has caught the attention of several major manufacturers around the world, who continue to win major tenders every year. The major players in the market also bring in innovations which have removed the need for expert clinicians to monitor malaria diagnosis. Such innovations by leading players are likely to give significant impetus to the global malaria rapid diagnostics devices market.
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Global Malaria Rapid Diagnostics Devices Market: Regional Outlook
WHO reported that Malaria caused over 4, 35,000 deaths in 2017 globally. Additionally, over 219 million cases of malaria were reported all over the world in the same year. The disease is widespread in Africa, where over 90% of the cases are reported. Growing funds in this region from private foundations such as the Melinda and Bill Foundation are expected to drive growth of the market in this region. South East Asia Accounts for nearly 7% of these cases, while just over 2% come up from the Middle East. These regions are also expected to register significant growth due to growing private and public funds, improving access to health care and rising infrastructure. Overall, the growing incidences, and increased reporting of malaria cases is expected to drive significant growth for the global malaria rapid diagnostics devices market during 2018-2026.
Some of the most prominent competitors operating in the competitive landscape of global malaria rapid diagnostics devices market include –
- Wako Chemicals, Inc.
- Bio-Rad Laboratories, Inc.
- Premier Medical Corporation
- Siemens Healthcare
- Novartis Diagnostics
- Ortho-Clinical Diagnostics
- Life Technology
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5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
- Current and Future Threats
- Accurate Trend Analysis
- Regional Assessment
- Industrial Analogy
- COVID-19 Impact
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