MALARIA DIAGNOSTICS MARKET ANALYSIS

Malaria Diagnostics MarketSize and Trends

Market Statistics:

The global malaria diagnostics market was valued at US$ 729.1 Mn in 2021 and is forecast to reach a value of US$ 1,068.9 Mn by 2028 at a CAGR of 5.6% between 2022 and 2028.

Africa held dominant position in the global malaria diagnostics market in 2021, accounting for 84.3% share in terms of value, followed by Asia Pacific and Europe, respectively.

Figure 1. Global Malaria Diagnostics Market Share (%), by Region, 2021

Market Trends/Key Takeaways:

1. Increase in awareness among people about malaria is expected to drive growth of the global malaria diagnostics market. For instance, to raise awareness, World Health Organization celebrates World Malaria Day each year on 25^th April to underscore the collective energy and commitment of the global malaria community in uniting around the common goal of a world free of malaria.
2. Introduction of novel products by market players is expected to propel growth of the global malaria diagnostics market. For instance, January 2019, ERADA announced the launch of the world first diagnostic saliva test for malaria. The saliva-based diagnostic tool is set to transform malaria detection worldwide in the fight against one of the globe's most deadly diseases.