The malaria rapid diagnostics devices market will register a CAGR of over 5% by 2023

LONDON, Feb. 11, 2019 /PRNewswire/ — About this market The growing incidence of malaria in countries has increased the need for malaria rapid diagnostic devices, which can provide rapid...

LONDON, Feb. 11, 2019 /PRNewswire/ — About this market

The growing incidence of malaria in countries has increased the need for malaria rapid diagnostic devices, which can provide rapid test results and can help in better diagnosis. The number of cases of malaria is higher in Africa and Southeast Asian countries because of poverty, the lack of healthcare infrastructure, and less knowledge about parasitic infectious diseases. The growing incidence of malaria is resulting in an increasing demand for malaria diagnostic that provide rapid results. Many countries are promoting the use of malaria rapid diagnostic products such as systems and rapid test kits to facilitate early diagnosis. Therefore, growing incidence of malaria will drive the overall market growth. Technavio’s analysts have predicted that the malaria rapid diagnostics devices market will register a CAGR of over 5% by 2023.

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Market Overview

Product launches

Companies are focusing on strengthening their market positions and to expand their product portfolio by offering different types of malaria rapid diagnostic products, including assays, tests, and kits. Also. many companies are receiving pre-market approval for its product which in turn will also drive the market growth.

Inaccuracy in rapid diagnostics tests

Inaccuracy and inconsistency in rapid diagnostic test results hinder the adoption of malaria rapid diagnostic devices. The adoption of rapid diagnostic products has increased as they provide rapid test results. However, inaccurate test results (false-negative and false-positive results) can lead to misdiagnosis and wrong treatment. Regulatory bodies have no specific guidelines on how to conduct the rapid diagnostic tests.

For the detailed list of factors that will drive and challenge the growth of the malaria rapid diagnostics devices market during the 2019-2023, view our report.

Competitive Landscape

The malaria rapid diagnostics devices market appears to be moderately fragmented and with the presence of several companies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.

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