Lyme Disease Diagnostics Market is estimated to be US$ 2.95 billion by 2030 with a CAGR of 4.4% during the forecast period

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Published Date: June 2023

Lyme Disease Diagnostics Market accounted for US$ 2 billion in 2020 and is estimated to be US$ 2.95 billion by 2030 and is anticipated to register a CAGR of 4.4%. Lyme Disease is caused by the bacterium Borrelia burgdorferi and rarely, Borrelia mayonii. It is transmitted to humans through the bite of infected blacklegged ticks. Typical symptoms includes fever, fatigue, headache & skin rashes called erythema migrans. If it is not treated early, the infection can spread to your joints, heart, & nervous system. Earlier treatment can help you recover quickly. The ticks that spread it are blacklegged ticks (or deer ticks) & are usually found in Northeast, Mid-Atlantic, Upper Midwest, Pacific coast, especially northern California. People who spend lots of time outside.

Lyme Disease are treated with antibiotics. The earlier you are treated, the better, it gives you the best chance of fully recovering quickly. After treatment some patients may still have pain, fatigue that lasts more than 6 months. This is called post-treatment Lyme disease syndrome (PTLDS). There is no proven treatment for PLTDS, long-term antibiotics have not been shown to help.

Serological tests are the gold standard for diagnosing Lyme disease. Direct tests lack sensitivity for Lyme disease, hence serological tests remains the gold standard. Currently recommended is a standard 2-tier testing strategy using an enzyme-linked immunosorbent assay (ELISA) followed by Western blot for confirmation. The Johns Hopkins Lyme Disease Research Center is focused on patient-based research in all manifestations of Lyme disease.

The report " Global Lyme Disease Diagnostics Market, By Type (Serological Tests, Urine Antigen Tests, Lymphocytic Transformation Tests, Immunofluorescent Staining, and Nucleic Acid Tests), By Application (Hospitals and Clinics), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Trends, Analysis, and Forecast till 2029.

Key Highlights:

On May 18, 2022, The U.S. Department of Health and Human Services (HHS) and the Steven & Alexandra Cohen Foundation) launched the Lymex Diagnostics Prize, a $1 million competition to accelerate the development of Lyme disease diagnostics. The ultimate goal of competition was to advance the development of these diagnostics towards Food and Drug Administration (FDA) review.

Analyst View:

The demand for new diagnostic facilities and better diagnostics is gradually growing, which benefits the global Lyme disease diagnostics market. These trends are caused by an increase in tick-borne infectious disease cases as well as an increase in the incidence of new types of vector-borne diseases. However, it is anticipated that the market growth will be limited to some level in several developing nations due to a lack of knowledge about various diseases and Lyme disease diagnostics. Nevertheless, the market for Lyme disease diagnostics is expected to grow throughout the projected period due to rising healthcare investments in these areas and rising health awareness among consumers.

Browse 60 market data tables and 35 figures* through 140 slides and in-depth TOC on* " Global Lyme Disease Diagnostics Market, By Type (Serological Tests, Urine Antigen Tests, Lymphocytic Transformation Tests, Immunofluorescent Staining, and Nucleic Acid Tests), By Application (Hospitals and Clinics), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Trends, Analysis, and Forecast till 2029.

Key Market Insights from the report:

Global Lyme Disease Diagnostic Market accounted for US$ 2 billion in 2020 and is estimated to be US$ 2.95 million by 2030 and is anticipated to register a CAGR of 4.4%. The Global Lyme Disease Diagnostics Market is segmented based on Type, Applications and Region.

Based on Type, Global Lyme Disease Diagnostic Market is segmented into Serological Tests, Urine Antigen Tests, Lymphocytic Transformation Tests, Immunofluorescent Tests, Immunofluorescent Staining and Nucleic Acid Tests.
Based on Applications, Global Lyme Disease Diagnostic Market is segmented into Hospitals and Clinics.
Based on Region, Global Lyme Disease Diagnostic Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Competitive Landscape & their strategies of Global Lyme Disease Diagnostic Market.

The prominent players operating in the Global Lyme Disease Diagnostic Market includes, Abbott Laboratories, Alere Inc., Bio-Rad, Canon Life Sciences, Global Lyme Diagnostics, Graphene Frontiers, Oxford Immunotec and Trinity Biotech.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period