Lyme disease, also known as Lyme borreliosis, is a tick-borne illness caused by the Borrelia burgdorferi bacterium. The symptoms of Lyme disease include fever, headache, fatigue, and a characteristic skin rash called erythema migrans. If left untreated, infection can spread to joints, the heart, and the nervous system. Lyme disease treatment includes use of oral antibiotics such as doxycycline, amoxicillin and cefuroxime axetil to treat infection. T
global Lyme disease treatment market is estimated to be valued at US$ 1.56 Bn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising incidence of Lyme disease is a key trend fueling growth of the global Lyme disease treatment market. According to the Centers for Disease Control and Prevention (CDC), approximately 476,000 people are diagnosed with Lyme disease each year in the United States. Untreated Lyme disease can have long-term symptoms such as arthritis, nerve pain, and fatigue. Further, the lack of awareness about common symptoms of Lyme disease can also result in delayed diagnosis and treatment. This has created an urgent need for advanced therapeutics and preventive vaccines to control the rising burden of Lyme disease worldwide. Government support through funding on R&D activities to develop effective treatment solutions and preventive vaccines is also promoting growth of this market.
Segment Analysis
The global lyme disease treatment market is dominated by antibiotic therapy segment which holds around 75% share. This is because antibiotic therapy using doxycycline is the first line treatment recommended by healthcare practitioners for lyme disease. Within antibiotic therapy, doxycycline drug segment accounts for over 50% share since it is generic and relatively inexpensive. The vaccine segment currently holds a low share but is expected to witness fast growth in future as several players are conducting clinical trials for lyme disease vaccines.
Key Takeaways
The Global Lyme Disease Treatment Market Demand is expected to witness high growth over the forecast period of 2023 to 2030 on account of rising incidence of lyme disease globally due to factors such as rapid urbanization and deforestation.
Regional analysis: North America currently dominates the global market and is expected to continue its dominance led by the US. This is because Lyme disease is endemic to the Northeast and upper Midwest regions of the US. The Europe market is the second largest currently but Asia Pacific region is poised to witness fastest growth during the forecast period due to improving awareness and increasing investments by market players in the region.
Key players: Key players operating in the lyme disease treatment market are Pfizer, GSK, Merck, Allergan, and Abbott. Pfizer leads the market with its doxycycline drug holding over 30% share of the antibiotic therapy segment globally. GSK and Merck are developing lyme disease vaccines and their clinical trial results will be critical in determining future market potential of the vaccine segment.
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