Malaria Diagnostics Market Is Predicted To Grow Swiftly Due To Rising Prevalence Of The Disease Worldwide Till 2022: Grand View Research, Inc.
The malaria diagnostics market was worth USD 579.5 million in 2015 owing to rising prevalence of the disease worldwide. The market is projected to reach USD 789.0 million over the forecast period. In addition to growing need for technological advancements, there is rising demand for cost-efficient and high-quality diagnostics methodologies that can trigger growth in the industry. The diagnostics market can be segmented into rapid diagnostic tests (RDTs) and microscopic devices. RDT malaria diagnostic market accounted for a share of about 45.0% in the year 2015, in terms of revenue and is expected to continue the trend with the highest CAGR over the forecast period. Need for faster results, growing sensitivity and shortage of skilled workforce are key factors driving the industry. Also, RDTs require less turnaround time and are comparatively simple to use, which is expected to propel demand. The microscopic malaria diagnostics share, by volume, is anticipated to grow at...