The lyme disease diagnostic devices market to reach valuation US$ 3.87 billion by 2027 and is growing at a CAGR of 7.2% over the forecast period 2020 to 2027.
The lyme disease diagnostic devices market to reach valuation US$ 3.87 billion by 2027 and is growing at a CAGR of 7.2% over the forecast period 2020 to 2027.
Lyme disease is a bacterial infection caused by the Borrelia species. Infected ticks bite humans, which spreads the disease to humans. Depression, fever, exhaustion, and skin rashes are among the symptoms experienced by Lyme disease patients. Antibiotics can be used to treat the condition if it is discovered early. If the disease is not addressed, it can cause problems with the joints, heart, and central nervous system, as well as mortality. It is critical to diagnose and treat Lyme disease as soon as possible in order to achieve the best possible results for patients. However, current diagnostic techniques are time-consuming, require professional laboratory specialists, and take a long time to analyze. The surge in requirement for advanced medical treatments in the detection of the Lyme disease in early stages is propelling the growth of the global Lyme disease diagnostic devices market over the projection period.
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In recent years, the world has seen an increase in the number of cases of Lyme disease, which is projected to continue as the global population grows. Lyme disease testing is more common among those who live near forest areas or regions. Furthermore, as the number of instances of tick-borne infectious diseases rises, as well as the occurrence of new forms of vector-borne diseases, the demand for new diagnostic centers and enhanced diagnostics, the global Lyme disease diagnostic devices market is expected to grow. However, in certain emerging economies, a lack of information about different diseases and Lyme disease diagnostics is predicted to slow market expansion. Nonetheless, the worldwide Lyme disease diagnostic devices market is expected to grow due to rising healthcare investments in such regions and improving health awareness among the general public during the forecast period.
The development and testing of a novel cytokine-based immunoassay for Lyme disease diagnostics could lead to an earlier and more fast identification of the disease. A novel, rapid point-of-care Lyme diagnostic test based on lateral flow technology is being developed by a number of researchers. Metabolic biomarkers and biosignatures are being identified and characterized for better diagnoses. All of this researchis likely to contribute to new means of diagnosing Lyme disease, as well as earlier diagnosis, more accurate disease staging, and indicators of successful therapy. This is expected to propel the Lyme disease diagnostics market forward. Several large corporations have responded to the permission by launching novel Lyme disease diagnostics.
Lyme disease is caused mostly by the bite of infected Ixodes ticks and it affects millions of individuals every year all over the world. As a result, the Lyme disease diagnostic devices market might benefit from increased demand for better diagnostic tests in coming future.
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Report Highlights:
- Based on the product type, the serological testsegment dominated the global Lyme disease diagnostic devices market in 2020 with highest market share. Serological tests measures antibodies in the late stages of sickness when both polymerase chain reaction and nuclei acid tests are negative. These tests are extremely helpful in determining whether or not a patient has Lyme disease.
- Based on the end user, the hospitals segment dominated the global Lyme disease diagnostic devices market in 2020 with highest market share. Hospitals are well equipped to manage high patient volumes and use cutting edge diagnostic and treatment methods.
- North America is the largest segment for Lyme disease diagnostic devices market in terms of region. This is due to the increasing number of Lyme disease patients which have lots of new symptoms and are difficult to identify.
- Asia-Pacific region is the fastest growing region in the Lyme disease diagnostic devices market. This is attributed to an increase in Lyme disease incidence and a huge need to build speedy point of care technologies to identify the Lyme infection.
COVID-19 Impact Analysis:
- As the COVID-19 pandemic spread over the world, people with Lyme disease symptoms were asked to postpone their tests.
- People were advised to stay in isolation since testing for causes other than the COVID-19 virus was frequently postponing, causing delayed treatment and repercussions.
Key Developments in the Marketplace:
- Canon U.S. Life Sciences signed a strategic collaboration with T2 Biosystems Inc, a leading player of diagnostic tools in February 2015 to develop a breakthrough diagnostic test panel to promptly diagnose Lyme disease for the benefit of patients.
- Bio-Rad released the BioPlex 2200 Lyme Total Assay in April 2019, an automated multiplex technology platform to aid in the detection of Lyme disease.
Major Market Segments Covered:
By Product Type
- Serological Test
- Urine Antigen Tests
- Lymphocytic Transformation Test
- Immunofluorescent Staining
- Nucleic acid Test
By End User
- Hospitals
- Public/Private Laboratories
- Physician’s Office
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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