Research Nester’s recent market research analysis on “Malaria Ag Rapid Testing Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global malaria ag rapid testing market in terms of market segmentation by product type, distribution channel, and by region.
Surge in Adoption of Latest Technology to Boost the Growth of Global Malaria Ag Rapid Testing Market
The global malaria ag rapid testing market is set to grow on account of the rising adoption of the latest technology. Following the epidemic, several technologies have shown their value in a number of industries. However, the same has a significant positive impact on healthcare. IoT is one of the technologies. Finding the type of parasite (strains) that cause malaria in humans, or more precisely, detecting the existence of malaria, is the primary problem. Many countries with high malaria prevalence now lack surveillance systems or have very poor ones. Even if it were available, many people would still be unable to purchase it. Consequently, there is an increasing need for IoT in malaria testing. With the Internet of Things, any health volunteer in a small hamlet can easily obtain information about the existence of the malaria parasite by drawing blood samples and getting an answer without having to know anything about parasite detection.
Additionally, the burden of disease and its propagation can also be directly impacted by extreme weather, such as heat waves and flooding. There is increasing evidence linking the spread of malaria to climate change, and some experts believe malaria transmission will continue to rise globally unless significant action is taken to counteract climate change. Simultaneously, it is thought that other environmental changes, including deforestation, could affect mosquito dispersal patterns and, in turn, mosquito-borne disease transmission.
Some of the major growth factors and challenges that are associated with the growth of the global malaria ag rapid testing market are:
Growth Drivers:
· Rising Prevalence of Malaria
· Growth in Government Initiatives for the Awareness Regarding Malaria
Challenges:
It is challenging to create incentives to promote malaria RDT innovation due to the hazy demand for new products and the small profit margins. The most recent advancements in malaria RDT progress slowly and are primarily funded by donors. Prequalified testing is particularly crucial for cases where HRP2/3 deletions have occurred. Manufacturers do not have access to reliable information regarding the rate at which deletions will spread, the countries that are likely to require additional testing, or the strategies that procurers will employ in order to manage these tests (e.g., pricing, sourcing based on product differentiation). As a result, the market is expected to decline during the projection period.
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By distribution channel, the market for malaria ag rapid testing is segmented into drugstore, retail pharmacy, hospital chain pharmacy, and online pharmacy. Out of these, the hospital chain pharmacy segment is anticipated to gather the highest share of over 40% over the forecast period. The number of hospitals is expected to expand, which will impact this growth. Hospitals are essential to the fight against malaria because they can treat a variety of illnesses, including severe forms of the disease. In hospital settings, patients receive prompt and accurate diagnoses because RDTs are accurate and dependable. They are preferred because of this. However, the retail pharmacy segment is also expected to have notable growth.
By region, the Asia Pacific market for malaria ag rapid testing is estimated to grow over the forecast period. Strategic initiatives to prevent malaria through raising awareness of the disease and its diagnosis are being implemented by both public and private organizations in this region. Furthermore, awareness campaigns for the early detection and treatment of malaria are being carried out by nonprofit organizations like the WHO and others in this region. Rapid diagnostic equipment for malaria will be more widely used as a result of numerous organizations’ growing awareness campaigns, which will propel market expansion in this region.
This report also provides the existing competitive scenario of some of the key players of the global malaria ag rapid testing which includes company profiling of Wyss Institute, Novartis AG, Alere, Inc., Nectar Lifesciences Ltd., Teco Diagnostics, Xiamen Boson Biotech Co. Ltd., HWTAi BioTec, Arkray Inc., CTK Biotech Inc., Biosynex SA, and others.
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