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Lyme disease is an infectious disease caused by bacteria called Borrelia burgdorferi and is transmitted through the bites of infected blacklegged ticks. Lyme disease often exhibits symptoms including fever, headache, fatigue, and skin rash expanding concentrically from the bite site. The disease, if left untreated, can spread to the joints, heart, and nervous system. Due to the growing prevalence of Lyme disease globally and limitations of conventional diagnostic methods for early detection, advanced diagnostic technologies for lyme disease are gaining significant adoption.
The global lyme disease diagnostics market is estimated to be valued at US$ 1.5 Bn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing adoption of advanced diagnostic technologies is one of the major factors driving the growth of the lyme disease diagnostics market. Manufacturers are increasingly focused on development and commercialization of robust diagnostic tests with high sensitivity and accuracy for early detection of lyme disease. For instance, in 2021, Immunetics Inc. launched an improved blood test, ClearLyme ELISA that can detect lyme disease in as early as 2 weeks after the onset of symptoms.
Another factor propelling the market growth is increasing research on development of novel diagnostic platforms. For example, in 2020, researchers from T2 Biosystems developed a direct-from-blood detection assay using the company’s T2Magnetic Resonance technology that offered sensitivity of 89% and specificity of 97% for lyme disease diagnosis, with results available within 3 hours. Such advancements are positively impacting the adoption of effective diagnostic technologies for lyme disease management.
Segment Analysis
The global Lyme disease diagnostics market is dominated by two segments – Serological Tests and Immunohistochemistry. Among these, the serological tests segment accounts for over 70% of the total market share owing to the high sensitivity and specificity of two-tier serological testing methods for Lyme disease diagnosis. Tests like ELISA and Western Blot are widely used serological diagnostic techniques for Lyme disease.
PEST Analysis
Political: Governments across various countries are increasing awareness campaigns about Lyme disease due to rising number of cases. They are also providing funding for R&D of advanced diagnostic tests.
Economic: High healthcare expenditures on treatment of chronic Lyme disease is driving the demand for reliable diagnostic tests. Development of point-of-care tests will further boost the market growth.
Social: Rising outdoor recreational activities in forests and parks have increased human interaction with ticks leading to increased Lyme disease infections. Growing health consciousness among public is also contributing to early diagnosis.
Technological: Companies are focusing on development of rapid, sensitive and cost-effective diagnostic techniques like Real-time PCR, Lateral Flow Immunoassays. Advanced microfluidics technology is enabling development of portable point-of-care Lyme disease diagnostic devices.
Key Takeaways
The global Lyme disease diagnostics market is expected to witness high growth at a CAGR of 3.8% during the forecast period of 2023 to 2030 to reach a valuation of US$ 1.5 Bn by 2024.
Regional analysis: North America accounts for the largest share of over 40% of the global market due to high disease prevalence and growing diagnostic testing rate in the US. Europe is the second largest market for Lyme disease diagnostics led by countries like Germany and France.
Key players: Key players operating in the Lyme disease diagnostics market are Abbott Laboratories, Immunetics Inc., Alere Inc., and Bio-Rad Laboratories. Abbott Laboratories offers a wide range of serological diagnostic tests for Lyme disease like ELISA and Western Blot under its Lyme Disease Diagnostic Assay portfolio. Immunetics Inc. provides specialized Real-Time PCR-based diagnosis of Lyme disease with its Immunetics Borrelia burgdorferi Real-TM Quant Test.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
