Malaria Ag Rapid Testing Market Size

Malaria Ag Rapid Testing Market size is projected to surpass USD 59 Billion by the end of 2036, growing at a CAGR of over 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of malaria ag rapid testing was USD 36 Billion. This market is poised to rise on account of the growing prevalence of malaria. According to the World Health Organization, in comparison to 244 million cases in 2021, there were a total of 249 million cases of malaria in 2022, according to the most recent World Malaria Report. The predicted number of malaria deaths stood to 608 000 in 2022 compared to 610 000 in 2021. Hence, the market demand for malaria ag rapid testing is poised to rise.

Furthermore, Plasmodium falciparum, P. vivax, P. ovale, and P. malariae are the four different types of malaria parasites that affect humans. However, it is estimated that more different types of malaria are set to become prevalent in the coming years. Therefore, the need for malaria ag rapid testing is poised to surge in the coming years.

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are surge in adoption of latest technology, rise in government initiatives for the awareness regarding malaria, and extreme weather event to increase prevalence of malaria.

The market size of malaria ag rapid testing is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2024-2036.

The major players in the market are Wyss Institute, Novartis AG, Alere, Inc., Nectar Lifesciences Ltd., and others.

The hospital chain pharmacy segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.

Malaria Ag Rapid Testing Market Size