Lyme Disease Diagnostics Market Size Worth USD 2.1 Billion in 2031, to Expand at a 3.8% CAGR Says, Transparency Market Research

Wilmington, Delaware, United States, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global Lyme disease diagnostics market is expected to total US$ 1.56 billion in 2023 and is expected to expand at a CAGR of 3.8% until 2031.

Lyme disease diagnostics is a rapidly growing market in the healthcare industry. Lyme disease, caused by the bacteria Borrelia burgdorferi, is a tick-borne illness that spreads to humans through infected black-legged ticks. Typical symptoms include fever, headache, tiredness, and skin rash, which can have serious health implications if left untreated.

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Competitive Landscape

The market for lyme disease diagnostics is characterized by the presence of a significant number of players. TMR’s report includes the following diagnostics service providers:

Some of the key players operating in the global market are LabCorp, Quest Diagnostics, Abbott Laboratories, Bio-Rad Laboratories, Inc., bioMérieux SA, DiaSorin S.p.A, T2 Biosystems, Inc., F. Hoffmann-La Roche AG, Meridian Bioscience, Inc., Quidel Corporation, and Thermo Fisher Scientific Inc. These companies are following the latest Lyme disease diagnostics market trends to avail lucrative growth opportunities.

Key Market Developments

• In April 2023, Abbott Laboratories announced a collaboration with the Climate Amplified Disease and Epidemics (CLIMADE) consortium, a group of more than 100 scientists from public health departments and other industries. These global scientists are striving to assess and potentially mitigate the impact of climate change on disease outbreaks using data science technology and diagnostic testing.
• In July 2022, T2 Biosystems Inc. announced that the FDA granted Breakthrough Device Designation for the company’s T2Lyme Panel. The T2Lyme Panel is a direct-from-blood molecular diagnostic test introduced to detect the Lyme disease-causing bacteria, including Borrelia burgdorferi, Borrelia garinii, and Borrelia afzelii. The test runs on the FDA-cleared T2Dx Instrument.
• In June 2022, Quidel Corporation announced a multifaceted partnership with Global Lyme Alliance in an effort to significantly raise public awareness about Lyme disease, which affects nearly 500,000 people in the U.S. annually. Quidel Corporation developed the first rapid point-of-care diagnostic Lyme disease test with FDA approval.
  

Prevalence of the Lyme disease has been rising, especially in regions with high tick populations. This has led to an increase in awareness about the disease and the need for early detection and treatment. Demand for accurate and efficient diagnostic tools is rising across the globe owing to the growth in the incidence of Lyme disease.

There are just a few accurate tests for diagnosis of the Lyme disease. Furthermore, continual mutations and genotypic variations in the bacteria are augmenting the chances of their prevalence among the population across the globe. Rise in incidence of the disease is encouraging research and development activities in the field of Lyme disease detection technology. As a result, the global Lyme disease diagnostics market is experiencing steady growth.

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Key Takeaways from the Market Study

• As of 2022, the Lyme disease diagnostics market was valued at US$ 1.5 billion
• From 2022 to 2023, a y-o-y growth rate of 4% is expected for the Lyme disease diagnostics market
• By diagnostic test, serological tests such as ELISA and western blot tests, are expected to remain prominent
• Lyme disease diagnostics via blood sample testing to be the most common approach
• Lyme disease testing to be most prevalent through diagnostic laboratories
• From 2023 to 2031, the lyme disease diagnostics market is slated to expand 1.3x

Lyme Disease Diagnostics Key Market Drivers

• According to the CDC, confirmed cases of the Lyme disease in the U.S. rose to 44.0% from 1999 to 2019. Lyme disease is more prevalent in North America and Europe. According to an article published by BMJ Global Health (June 2022), more than 14.0% of the world’s population is suffering from the tick-borne Lyme disease, indicated by the presence of antibodies in the blood. This rising prevalence is expected to bolster demand.
• The growth of the market can also be attributed to the rising healthcare expenditure by the government and private organizations. They are investing more in the development of diagnostic centers and healthcare facilities. Various organizations are also taking initiatives to further raise awareness about the disease and the available treatments.

Regional Profile of Lyme Disease Diagnostics

• North America is likely to constitute a large share of the global industry in the near future. The increase in the incidence of Lyme disease, specifically in the U.S., and the presence of a well-established healthcare system are contributing to the Lyme disease diagnostics market growth in the region.
• The Lyme disease diagnostics market size in Asia Pacific is likely to increase at a steady pace during the forecast period, owing to expansion in the healthcare infrastructure, rise in prevalence of Lyme disease, growth in R&D efforts, and surge in government initiatives to promote screening programs.

Key Segments Profiled

Diagnostic Test

• Serological Test
  • ELISA
  • Western Blot
• Polymerase Chain Reaction (PCR) Test
• Others (Culture Test, Antigen Test, etc.)
  

Sample

• Blood
• Cerebrospinal Fluid (CSF)
• Others (Joint Fluid, Urine, etc.)
  

End-user

• Hospitals
• Diagnostic Laboratories
• Others (Clinics, Research Institutes, etc.)
  

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
  

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