Malaria Diagnostics Market contributed to $728,870 thousand in 2018, and is projected to reach $1,085,106 thousand by 2026, growing at a CAGR of 5.1% from 2019 to 2026. The report offers a detailed analysis of changing market dynamics, new opportunities, market size, trends, & projections, key segments, and competitive landscape.
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Surge in prevalence of malaria across the world, rise in healthcare expenditure, and surge in adoption of advanced diagnostics drive the global malaria diagnostics market. However, less demand from underdeveloped countries hinders the market growth. On the other hand, untapped potential in emerging economies create new opportunities in the next few years.
Based on product type, the rapid diagnostic tests segment held more than two-fifths of the total market share in 2018, and is expected to maintain its highest contribution in terms of revenue during the forecast period. However, the molecular diagnostics tests segment is expected to portray the fastest CAGR of 6.0% from 2019 to 2026. The report also analyzes the microscopy segment.
Based on end user, the clinics segment accounted for more than two-fifths of the total market share in 2018, and is expected to contribute its lead position throughout the forecast period. However, the diagnostic centers segment would witness the largest growth rate with a CAGR of 6.0% from 2019 to 2026. The research also discusses the hospitals segment.
Based on region, LAMEA held the highest market share in terms of revenue, accounting for more than 90% of the total market share in 2018, and is expected to maintain its highest contribution throughout the forecast period. However, Asia-Pacific is estimated to portray the highest CAGR of 6.1% during the forecast period. This is due to huge potential patient base along with increase in awareness regarding usage of antimalarial drugs. North America would witness a CAGR of 4.1% from 2019 to 2026.
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Key market players of the global malaria diagnostics market analyzed in the research include Abbott Laboratories, Atlas Medical, Access Bio, Inc., Bio-Rad Laboratories, Inc., Biomérieux SA, Novartis AG, Meridian Bioscience Inc., Premier Medical Corporation Pvt. Ltd., Olympus Corporation, and Siemens AG. They have adopted various strategies including partnerships, collaborations, agreements, mergers & acquisitions, and others to gain a strong position in the industry.