Lyme Disease Diagnostics Devices Market Size, Share, Trends, Growth and Forecast 2032

Lyme Disease Diagnostics Devices Market Insights

Zion Market Research has published a report on the global Lyme Disease Diagnostics Devices Market, estimating its value at USD 2.65 Billion in 2023, with projections indicating that it will reach USD 4.19 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 5.2% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Lyme Disease Diagnostics Devices Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Lyme Disease Diagnostics Devices Market Size And Industry Analysis

Lyme disease is a bacterial infection caused by species borrelia burgdorferi. It commonly spreads in the individuals via infected ticks bite. Lyme disease affected patients have symptoms such as nausea, weakness, depression, and rashes of the skin. If the disease is detected early on, then antibiotics can be used to treat it. When the condition remains untreated, then it affects the joints, heart, and central nervous system, and can lead to death. Across the Northern Hemisphere, Lyme disease is the most common disease transmitted by ticks. This is reported to harm 300,000 people per year in the United States and 65,000 individuals per year in Europe. Outbreaks are quite common in spring and summer.

Upsurge in incidence of Lyme disease, growing policy attention on improving healthcare services, and the advent of new diagnostic tests for Lyme disease pushes the market. Nonetheless, lack of knowledge of the disease and ineffectiveness in Lyme disease research reduces the market. Additionally, growth in key players’ interests in Lyme disease diagnosis R&D is predicted to provide lucrative business growth opportunities.

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COVID-19 Impact Analysis

COVID-19 is a worldwide public emergency which have led us to serious implications for all the sectors as it have reduced the growth to a significant level. World is still suffering through an unprecedented COVID-19 outbreak posing social, health, and economic emergency. It’s been a year now since the outbreak of COVID-19 hampering the various markets causing the significant loss in the revenue. However, Healthcare sector, research & development activities can be seen to get on track with new inflow of investments. Though the investments have started flowing again, COVID-19 cases are surging in most of the countries and situation is worsening resulting countries to be again locked down.

Growth Factors

Lyme disease is the most prevalent arthropod-borne disease in the United States, with more than 30,000 cases reported to the Centers for Disease Control and Prevention (CDC) every year. Nonetheless, CDC reports indicate the number of confirmed cases of Lyme disease is likely 10 times greater. Many incidents occur in only 12 of the 50 states in the United States, with a concentration in New England, the Mid-Atlantic and the Upper Midwest areas. Lyme disease has also extended to nearby countries like Canada, with 917 confirmed cases in 2017.

As per WHO, there are about 85,000 cases a year across Europe. Case numbers are projected to exceed 3,000 cases per annum in England and Wales. The highest number of cases recorded in central Europe, particularly in Germany, Austria, Slovenia and the Swedish coastal regions. Lyme disease is also established in China, with Japan and Korea are having less prevalence.

As per Centers for Disease Control and Prevention (CDC) the number of counties with an incidence of ≥10 confirmed cases per 100,000 persons increased from 324 in 2008 to 415 in 2018.Thus, increase in prevalence of Lyme disease is driving Lyme disease diagnostics device market.

Lyme Disease Diagnostics Devices Market: Report Scope

Product Type Segment Analysis Preview:

Based on product type Lyme disease diagnostic devices market is segmented into Serological Test, Urine Antigen Tests, Lymphocytic Transformation Test, Immunofluorescent Staining and Nucleic acid Test. Serological Test is anticipated to dominate the segment for Lyme disease diagnostic devices market in near future over the forecast period.  Urine Antigen Tests is expected to hold second position to dominate the product segment for Lyme disease diagnostic devices market followed by Lymphocytic Transformation Test, Immunofluorescent Staining. Nucleic acid Test is expected to hold the least share of the segment for Lyme disease diagnostic devices market.

End User Segment Analysis Preview:

Based on end user Lyme disease diagnostic devices market is segmented into hospitals, public/private laboratories, and physician’s office. Hospital segment is anticipated to dominate the segment for Lyme disease diagnostic devices market in near future over the forecast period. Furthermore followed my public/private laboratories to be the second dominating segment for the market. Physician’s office segment hold the least share for Lyme disease diagnostic devices market.

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Regional Analysis Preview

North America is anticipated to hold a significant market share in the global lyme disease diagnostic market over the forecast period. The number of tick borne diseases is increasing tremendously. Thus, owing to rising number of base population it is anticipated to drive the market in near future over the forecast period. Moreover, government is taking several initiatives, many private organizations are investing their money in diagnosing the disease in this region. For instance, according to Centers for Disease Control and Prevention (CDC), around 300000 people were diagnosed with Lyme disease every year in North America. Also, presence of well-established healthcare infrastructure in this region and increasing healthcare expenditure can be the factors which can boom the market growth in near future over the before cat period.

Asia Pacific region is anticipated to have fastest CAGR for the lyme disease diagnostic market. The population in Asia pacific region is increasing tremendously. Thus, owing to the large base pf population the lyme disease diagnostic market is anticipated to grow with fastest rate in near future over the forecast period.

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Key Market Players & Competitive Landscape

Some of key players in Lyme Disease Diagnostics Devices Market are,

• Abbott
• F. Hoffmann-La Roche Ltd
• Bio-Rad Laboratories, Inc.
• Graphene Frontiers
• Oxford Immunotec Global PLC
• T2 Biosystems, Inc.
• Thermo Fisher Scientific, Inc.
• Quidel Corporation

The Lyme Disease Diagnostics Devices Market is segmented as follows:

By Product Type Analysis

• Serological Test
• Urine Antigen Tests
• Lymphocytic Transformation Test
• Immunofluorescent Staining
• Nucleic acid Test

By End User Analysis

• Hospitals
• Public/Private Laboratories
• Physician’s Office

Global Lyme Disease Diagnostics Devices Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa