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It is expected to be the fastest growing region among other regions.
Research and Markets said that the Asia-Pacific region is expected to become the fastest growing malaria diagnostics market by 2030, with a compound annual growth rate (CAGR) of 6.1%.
The expansion in the region has been attributed to higher malaria prevalence in countries such as India, Myanmar and Indonesia, as well as increased investment in public health measures by governments and international organizations.
Technological advances and increased awareness of malaria control have also contributed to accelerated adoption of diagnostic tools in the region.
From a broader perspective, the global market is expected to reach US$1.1b by the end of the forecast period, growing at a CAGR of 5.3%.
“The impetus for rapid and accurate detection methods such as rapid diagnostic tests and molecular diagnostics has increased as they play a vital role in effective disease management,” the report states.
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