Malaria Rapid Diagnostics Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2028
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 –
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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