LOS ANGELES, June 25, 2019 (GLOBE NEWSWIRE) -- The global malaria diagnostics market is estimated to grow at CAGR above 5.9 % over the forecast time frame 2019 to 2026 and reach the market value around USD 900 million by 2026.
An increased incidence of tropical illness in endemic nations, new diagnostic methods are developed and increased investments are anticipated to boost market growth by regional governments and private sector investors. Malaria is one of life's most common threateners, often caused by altering climate, low economic growth, poor health infrastructure and a absence of access for sophisticated therapy in tropical and subtropical areas.
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There are also anticipations to fuel market growth in the near future, with an increasing amount of governments ' projects and market participants investing. Major businesses are conducting numerous malarial elimination programs to decrease the incidence of the disease. For example, the Malaria Initiative of Novartis was directed at enabling the elimination and control of malaria. In cooperation with different institutions, 750 million individuals in 60 nations have been supplied with non-profit therapy. This means the development of new technology and market penetration support are expected to be facilitated.
Modern technology has revolutionized and is in high demand the diagnosis of malaria. These studies have demonstrated that malaria antigen parasites have been detected effectively. The demand for malario diagnostic is expected to increase with the increase of public financing to the healthcare industry, combined to rising investment in research and development of new therapeutics.
The WHO reports that in 2012 there were approximately 203 million global reports of malaria. Malaria caused around 627,000 fatalities worldwide the same year. To curb the spread of malaria governments in developing and undeveloped countries in particular, there is no stone left unturned. This encourages advanced malaria diagnosis. There are also incentives for individuals residing in distant areas to provide them at a pocket-friendly or nominal price.
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Early and accurate diagnosis can contribute to malaria therapy and guarantee quick discovery. Therefore, investments in multiple diagnostic methods have increased on the market of malaria diagnostics. Malaria detection by microscopy and blood testing is included. Malaria diagnostic procedures are used to detect the occurrence of microscopically active parasites, such as molecular diagnoses, Rapid Diagnostic Tests (RDTs).
The market in Europe and Asia Pacific is anticipated to experience exponentially elevated demand as these areas have elevated malaria incidence. Moreover, the government's efforts to increase awareness of the illnesses, their therapy and prevention should provide a important boost to the industry in malaria diagnosis. In Asia Pacific and in the rest of the world, this situation is most common across emerging nations. For example, the Government of India has invested heavily in awareness-raising of malaria prevention and cure. The nation also has increasing spending on healthcare.
This market is confronted with difficulties in accelerating diagnostic test adoption and use of malaria diagnosis. The WHO has updated its malaria rules and advises the analysis of all suspected malaria instances. Global partners ' initiatives to ensure universal access to diagnostic kits were conducted.
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Key Findings
The microscopic technology segment has motivated the traditional use of microscopic testing to detect malarial parasites.
RDTs will account for the biggest share of revenues due to easy use, comfort and quick diagnosis.
Due to their precision and ability to detect small parasite numbers, molecular diagnostic testing is expected to be the fastest growing technology segment during the provision era.
As a result of the elevated incidence of diseases and enhanced application of different malarial diagnostic methods in the region, Africa resulted the market in malaria diagnostics in 2018.
Key Players & Strategies
Some of the main businesses include bioMérieux; Beckman Coulter, Inc.; Access Bio., Inc. Sysmex Partec GmbH; Abbott Laboratories; Nikon Corporation; Siemens Healthineers; and Olympus Corp. Their large worldwide presence and distribution channels are responsible, in specific, for Abbott; bioMérieux; Siemens Healthineers; Beckman Coulter Inc.; and Bio-Rad Laboratories, Inc. For example, bioMérieux has a vast network of retailers across 42 diagnostic solutions in more than 150 nations.
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