Lyme Disease Diagnostics Market is estimated to be US$ 2.95 billion by 2030 with a CAGR of 4.4% - By PMI

The report “Lyme Disease Diagnostics Market, By Type, By Application – Market Trends, Analysis, and Forecast till 2029.”

COVINA, CALIFONIA, UNITED STATES, March 31, 2023/EINPresswire.com/ -- Lyme Disease Diagnostics Market includes various diagnostic techniques such as enzyme-linked immunosorbent assay (ELISA), Western blot, polymerase chain reaction (PCR), and others. ELISA is the most commonly used diagnostic test for Lyme disease, as it is highly sensitive and specific. Western blot is used to confirm the results of ELISA and is considered the gold standard for Lyme disease diagnosis. PCR is a newer diagnostic technique that is used to detect the genetic material of the Borrelia burgdorferi bacteria in blood, urine, or spinal fluid samples. Lyme disease diagnostics refer to a set of tests that are used to diagnose the presence of Borrelia burgdorferi bacteria in the human body, which causes Lyme disease. The market for Lyme disease diagnostics is rapidly growing due to the increasing prevalence of the disease worldwide. According to the Centers for Disease Control and Prevention (CDC), there are approximately 300,000 cases of Lyme disease reported in the United States each year. The market for Lyme disease diagnostics is expected to witness significant growth in the coming years due to the increasing awareness about the disease and the development of new and advanced diagnostic techniques.

Key Highlights:

• On May 18, 2022, The U.S. Department of Health and Human Services (HHS) and the Steven & Alexandra Cohen Foundation) launched the Lymex Diagnostics Prize, a $1 million competition to accelerate the development of Lyme disease diagnostics. The ultimate goal of competition was to advance the development of these diagnostics towards Food and Drug Administration (FDA) review.

Analyst View:

The demand for new diagnostic facilities and better diagnostics is gradually growing, which benefits the global Lyme disease diagnostics market. These trends are caused by an increase in tick-borne infectious disease cases as well as an increase in the incidence of new types of vector-borne diseases. However, it is anticipated that the market growth will be limited to some level in several developing nations due to a lack of knowledge about various diseases and Lyme disease diagnostics. Nevertheless, the market for Lyme disease diagnostics is expected to grow throughout the projected period due to rising healthcare investments in these areas and rising health awareness among consumers.

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Key Market Insights from the report:

Lyme Disease Diagnostic Market accounted for US$ 2 billion in 2020 and is estimated to be US$ 2.95 million by 2030 and is anticipated to register a CAGR of 4.4%. The Global Lyme Disease Diagnostics Market is segmented based on Type, Applications and Region.

• Based on Type, Global Lyme Disease Diagnostic Market is segmented into Serological Tests, Urine Antigen Tests, Lymphocytic Transformation Tests, Immunofluorescent Tests, Immunofluorescent Staining and Nucleic Acid Tests.
• Based on Applications, Global Lyme Disease Diagnostic Market is segmented into Hospitals and Clinics.
• Based on Region, Global Lyme Disease Diagnostic Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Competitive Landscape & their strategies of Global Lyme Disease Diagnostic Market.
The prominent players operating in the Global Lyme Disease Diagnostic Market includes,

• Abbott Laboratories
• Alere Inc.
• Bio-Rad
• Canon Life Sciences
• Global Lyme Diagnostics
• Graphene Frontiers
• Oxford Immunotec
• Trinity Biotech

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

Key Questions asked on Lyme disease diagnosed:

Q: How is Lyme disease diagnosed?
A: Lyme disease can be diagnosed using a combination of clinical evaluation, serological tests such as ELISA and Western blot, and PCR testing. Serological tests detect the presence of antibodies to the bacteria in the blood, while PCR testing detects the genetic material of the bacteria.

Q: Can Lyme disease be cured?
A: Yes, Lyme disease can be treated with antibiotics. The earlier the disease is diagnosed and treated, the more effective the treatment is likely to be. In some cases, a longer course of antibiotics may be necessary to fully eliminate the bacteria.

Q: What are the long-term effects of Lyme disease?
A: If left untreated or inadequately treated, Lyme disease can cause chronic symptoms such as joint pain, fatigue, and cognitive impairment. This condition is known as Post-Treatment Lyme Disease Syndrome (PTLDS).

Q: How can I prevent Lyme disease?
A: You can prevent Lyme disease by taking steps to avoid tick bites, such as wearing protective clothing, using insect repellent, and performing tick checks after spending time outdoors in areas where ticks are common. If you do find a tick attached to your skin, it is important to remove it as soon as possible to reduce the risk of infection.

Segmentation:

Lyme Disease Diagnostics Market by type:
• Serological Tests
• Urine Antigen Tests
• Lymphocytic Transformation Tests
• Immunofluorescent Staining
• Nucleic Acid Tests
Lyme Disease Diagnostics Market by application:
• Hospitals
• Clinics
Lyme Disease Diagnostics Market by region:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Shweta Raskar
Prophecy Market Insights
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