Report ID: SQMIG35B2208
Report ID:
SQMIG35B2208 |
Region:
Global |
Published Date: May, 2024
Pages:
219
|
Tables:
61 |
Figures:
75
Malaria Diagnostics Market size was valued at USD 844.51 Million in 2023 and is poised to grow from USD 884.46 Million in 2024 to USD 1340.65 Million by 2032, growing at a CAGR of 4.73% during the forecast period (2025-2032).
Malaria is a parasitic disease which is transmitted through the bite of an infected anopheles mosquitoes. These mosquitoes carry the Plasmodium parasite, which is then transmitted to humans during a bite. Upon entering the human body, these parasites initially grow in the liver before entering the bloodstream and infect the red blood cells. Common symptoms of malaria in humans include fever, vomiting, weakness, and headache. Over recent years, there has been a significant expansion in the global market for malaria diagnostics.
In recent years, the global malaria diagnostics market has witnessed notable growth, driven by key trends and innovations in diagnostic technologies. Technological advancements, particularly in molecular diagnostics and RDTs, have changed the malaria diagnosis by offering greater sensitivity, specificity and ease of use. Moreover, the increasing adoption of point-of-care testing solutions has facilitated timely diagnosis, especially in resource-limited settings where access to laboratory facilities is limited. The rising awareness about the importance of early detection of malaria along with the government initiatives and fundings from organizations like the global fund, has pushed the market growth while encouraging the development and deployment of innovative diagnostic tools.
However, the market faces several restraints that could impede its growth trajectory. Limited healthcare infrastructure and access to diagnostic services in remote and underserved regions pose significant challenges for malaria diagnosis. Affordability and accessibility of diagnostic tests remain key concerns, particularly in low-income countries where the burden of malaria is highest. Moreover, accuracy and reliability issues with some diagnostic tests, as well as regulatory hurdles, may hinder market expansion efforts. Addressing these challenges will require collaborative efforts from stakeholders across the public and private sectors to develop cost-effective, reliable, and culturally sensitive diagnostic solutions that can effectively combat malaria on a global scale.
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Report ID: SQMIG35B2208