Malaria Diagnostics Industry Sizeworth $1.02 billion by 2027

The report "Malaria Diagnostics Market by Technology (Microscopy, Rapid Diagnostic Tests, Molecular Diagnostic Tests), End User (Hospitals, Clinics, Diagnostics Centers, and Others), and Geography - Global Forecast to 2027", size is projected to reach USD 1.02 billion by 2027 from USD 770.5 million in 2022, at a CAGR of 5.4% during the forecast period.

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Factors that are responsible for the growth of this market include the growing demand for diagnostic tools in malaria-endemic regions, increasing technological advancements and efficient diagnostics, and scale-up of rapid diagnostic tests, and universal access to diagnosis. Other significant factors driving the market is the large investments controlled by government entities and investment funds to reduce illness prevalence. Growing need for high-quality, launch of cost-effective diagnostics technologies are anticipated to lead to innovations that can increase diagnostic availability, particularly in rural areas. However, in developing countries, a lack of healthcare understanding is a major factor limiting the development of the malaria diagnostics market.

“The Rapid Diagnostic Tests (RDTs) accounted for the largest market share in the malaria diagnostics market, by technology, during the forecast period”

Based on the technology, the market is segmented into rapid diagnostic tests (RDTs), microscopy, and molecular diagnostic tests. In 2021, rapid diagnostic tests accounted for the largest market share because of the advantages of using RDTs in the diagnosis of malaria RDTs, are affordable, easy to use and interpret, have very high sensitivity and specificity, resistant to high temperatures, and produce data quickly. However, molecular diagnostic tests is expected to increase significantly between 2021 and 2027.

“Clinic's segment accounted for the largest market share by end user”

Based on the end-user, the market is segmented into hospitals, clinics, and diagnostic centers. In 2021, the clinic's segment is expected to hold a larger share as compared to other segments owing to an increasing number of clinics around the world. Furthermore, rising demand for early diagnosis of falciparum malaria for better healthcare treatment, launch of advanced diagnostics facilities are predicted to grow at the largest rate during the forecast period. While diagnostic centers is expected to grow at the fastest rate during the forecast period.

“APAC region accounted for the highest CAGR”

The global malaria diagnostics market is divided into five regions: North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa. According to the regional analysis, the Middle East and Africa is expected to occupy a substantial share of the malaria diagnostics industry in 2021. This growth can be attributed to the growing prevalence of malaria in the region caused by the widespread malaria vector, Anopheles gambiae, which is difficult to control. On the other side, Asia-Pacific is estimated to register the fastest growth during the forecast period due to the increasing awareness regarding the use of malaria diagnostic devices. The major players operating in this market are Access Bio., Inc. (US), Abbott Laboratories (US), Premier Medical Corporation Pvt. Ltd. (India), Sysmex Partec GmbH (Germany), bioMérieux (France), Beckman Coulter, Inc. (US), Siemens Healthineers (Germany), Leica Microsystems GmbH (Germany), Nikon Corporation (Japan), Olympus Corporation (Japan), and Bio-Rad Laboratories (US).

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