Global Malaria Diagnostics Market: Overview
According to the WHO, around 203 million cases of malaria was reported worldwide in 2012. The same year malaria resulted in approximately 627,000 deaths around the world. In order to curb the spread of malaria governments, especially in underdeveloped and developing countries, are leaving no stone unturned. Advanced diagnosis for malaria detection is thus encouraged. Incentives are offered as well to make them available at a pocket-friendly or nominal price in people living across remote regions.
Early and precise diagnosis can help in the treatment of malaria and ensure rapid discovery. The malaria diagnostics market has therefore witnessed rise in investments in various diagnostic techniques. These involve the detection of malaria with the help of microscopy and blood tests. Malaria diagnosis is conducted using various techniques such as molecular diagnostics, rapid diagnostic tests (RDTs), and by detecting the presence of parasites using microscopy.
The report provides a comprehensive overview of the global malaria diagnostics market covering growth drivers and restraints influencing its trajectory between 2013 and 2019. It segments the market based on various parameters and studies the factors influencing its growth across these segments. The report also studies the effect of Porter’s five forces on the overall market operations.
Global Malaria Diagnostics Market: Trends and Opportunities
The advent of advanced technologies has revolutionized malaria diagnosis and are high in demand. These tests have proven successful in detecting antigens of malaria parasites. As government funding for the healthcare industry rise, coupled with the increasing investment in research and development of novel therapeutics, the demand in the malaria diagnostics market is projected to rise in response.
Some of the most common techniques used in the detection of malaria are QBC technique, peripheral blood smears, and serological tests. Besides this, drugs most commonly administered for the treatment of malaria are artemether-lumefantrine (Coartem), atovaquone-proguanil (Malarone), clindamycin used in combination with quinine, chloroquine, quinine, mefloquine (Lariam), and quinidine. Factors influencing the demand of these drug classes are analyzed as well. The report also studies the impact of the looming patent expiry of blockbuster drugs on the global malaria diagnostics market. On the flip side, technological complications present in a few of the commonly used diagnostic methods could restrain the market’s expansion to an extent.
Global Malaria Diagnostics Market: Regional Outlook
Regionally, Europe, North America, Asia Pacific, and Rest of the World constitute the key segments in the global malaria diagnostics market. Among these, the market is expected to witness exponentially high demand in Europe and Asia Pacific as these regions exhibit a high prevalence of malaria. Besides this, steps taken by government to spread awareness regarding the diseases, its treatment, and prevention are expected to give the malaria diagnostics market significant impetus. This scenario will be most prevalent across emerging nations in Asia Pacific and Rest of the World. For instance, the Indian government has been significantly investing in creating awareness about the prevention and cure of malaria. The country is also exhibiting rising healthcare expenditure. These factors are expected to create lucrative opportunities fo9r the malaria diagnostics market in Asia Pacific.
Global Malaria Diagnostics Market: Vendor Landscape
Some of the leading companies operating in the global malaria diagnostics market are bioMerieux,
Beckman Coulter/Danaher, Abbott Laboratories, Bio-Rad Laboratories, Inc., Novartis Diagnostics, Life Technology, Siemens Healthcare, Bio-Rad, Ortho-Clinical Diagnostics, and Wako Chemicals, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.