Malaria Rapid Diagnostics Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2028

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Malaria Rapid Diagnostics Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2028

Status : June, 2020 | Medical Devices | PPT format

Report Digest

Global Malaria Rapid Diagnostics Devices Market: Overview

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.

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.

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

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.