Lyme Disease Diagnostics Market (Emerging Diagnostic Technology - Serological Test, Urine Antigen Tests, Immunofluorescent Staining, Nucleic Acid Test, and Others; End User - Hospitals, and Public and Private Laboratories): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

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.

Market Insight

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.

Segment Covered

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.

Companies Profiled:

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.

Report Highlights:

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.