A recent report ongoing study by
Infinium Global Research on lyme disease diagnostics market provides in-depth
analysis of segments and sub-segments in the global as well as regional lyme disease
diagnostics market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional lyme disease
diagnostics market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of the global lyme
disease diagnostics market. According to the report, the global lyme disease
diagnostics market is projected to grow at a healthy CAGR over the forecast
period of 2021-2027.
Lyme disease is an infectious
disease caused by the Borrelia bacteria and carried by ticks, and this disease
is also known as Lyme borreliosis. The typical symptom of the disease is
spreading red rash, which is known as erythema migrans, which emerges around a week
after the tick bite. Various tests like serological tests, polymerase chain
reaction (PCR) testing, immunofluorescence (IFA), lymphocyte transformation
test, urine antigen testing, and others are used for diagnosing Lyme disease.
Due to the increase in incidence and rise in prevalence of Lyme disease and the surge in funding from government organizations and large corporates for
developing Lyme disease diagnostic kits, there can be a growth in the lyme
disease diagnostics market.
The growth of the Lyme disease
diagnosis market is attributed to the rising prevalence of Lyme disease and the
increasing focus of governments on the improvement of healthcare
facilities. Furthermore, the Lyme disease diagnosis market players are focusing
on research and development of new tests for Lyme disease diagnosis, which is
expected to propel the growth of the market over the forecast period. On the
other hand, inefficiency in Lyme disease testing and lack of awareness about
the disease can hamper the market’s growth over the forecast period.
North America is expected to hold
a dominant position in the Lyme disease diagnosis market over the forecast
period. Increasing government initiatives for diagnosing and treating various
diseases are propelling the market’s growth in this region. Furthermore, the
increasing pervasiveness of common tick disease, which has led to high demand
for effective disease treatment, is boosting the development of the market in
the region. Moreover, Europe is also expected to grow at a considerable revenue
share over the forecast period. In many European countries, the incidence of
Lyme disease has been increasing significantly, which creates a massive demand
for the diagnosis of the disease. For instance, the Center for Health
Protection stated that Lyme disease cases in Europe expand with about 100 cases
per 100,000 population every year.
The report on the global lyme disease
diagnostics market covers segments such as emerging diagnostic technology, and
end user. On the basis of emerging diagnostic technology, the sub-markets
include serological test, urine antigen tests, immunofluorescent staining,
nucleic acid test, and others. On the basis of end user, the sub-markets
include hospitals, and public and private laboratories.
The report provides profiles of
the companies in the market such as Abbott Laboratories, T2 Biosystems, Bio-Rad
Laboratories, Alere Inc., Roche Diagnostics International Ltd., Graphene
Frontiers, and Covance Inc.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of lyme disease diagnostics market. Moreover, the study highlights
current market trends and provides forecast from 2021-2027. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.