Lyme Disease Diagnostics Market projected to expand at a CAGR of 4% from 2021 to 2031

According to the report, the global Lyme disease diagnostics market was valued at ~US$ 2 Bn in 2020 and is projected to expand at a CAGR of 4% from 2021 to 2031. Lyme disease, commonly known as Lyme borreliosis, is an infectious disease caused by the Borrelia bacteria and carried by ticks. The most common indication of infection is spreading red rash, known as erythema migrans, which emerges around a week after tick bite. Different diagnostic tests are used in the diagnosis of Lyme disease such as serological test, polymerase chain reaction (PCR) testing, immunofluorescence (IFA), lymphocyte transformation test, urine antigen testing, and others. The growth of the global Lyme disease diagnostics market can be ascribed to increase in incidence and rise in prevalence of Lyme disease, and surge in funding from government organizations and large corporates for developing Lyme disease diagnostic kits.

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North America dominated the global Lyme disease diagnostics market in 2020 and the trend is anticipated to continue during the forecast period. Presence of major market players, significant healthcare expenditure, and early availability of new products drive the market in the region. Additionally, large patient base in the U.S. and rise in the number of Lyme disease diagnostics service providers propel the market in the country. Europe is expected to be the second largest market for Lyme disease diagnostics during the forecast period. The market in the region is likely to expand at a high CAGR from 2021 to 2031.

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Increase in Prevalence of Lyme Disease, Entry of Various Companies, and Surge in Launch of New Products to Drive Global Market

The global Lyme disease diagnostics market is projected to expand at a rapid pace during the forecast period, owing to the increase in cases of Lyme disease. Lyme disease is a highly common vector-borne disease in the U.S. and globally, with over 400,000 new cases recorded every year. Only a few tests are available in the market that accurately diagnose the Lyme disease. Moreover, frequent mutations and genotypic variations in the causative bacteria increase the chances of its prevalence among the global population.

According to a report by CDC, the reported numbers of cases of Lyme disease increased drastically from 48,610 cases in 2016 to 59,349 in 2017. The launch of various diagnostic devices for Lyme disease drives the Lyme disease diagnostics market. In September 2018, T2 Biosystems, Inc. developed T2Lyme Panel diagnostic technique for detection of Lyme disease-causing bacteria.

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Serological Test to Dominate Global Market

In terms of diagnostic test, the global Lyme disease diagnostics market has been classified into serological test, polymerase chain reaction (PCR) testing, immunofluorescence (IFA), lymphocyte transformation test, urine antigen testing, and others. The serological test segment has been split into ELISA and western blot. The serological test segment dominated the global Lyme disease diagnostics market in 2020 and the trend is likely to continue during the forecast period. Serological test enables early detection of Lyme disease by detecting the antigens or the Lyme-causing bacteria. The test focuses on sniffing out the antibodies produced in response to the antigens in the body of an infected person, thereby providing better diagnosis. These factors are projected to boost the growth of the segment during the forecast period.

The polymerase chain reaction (PCR) testing was the second largest segment in terms of market share in 2020. The growth of the segment can be attributed to strong sensitivity of polymerase chain reaction (PCR) in detecting an infection with Borrelia, which causes Lyme disease.

Clinical Laboratories to be Highly Lucrative End User

In terms of end user, the global Lyme disease diagnostics market has been categorized into hospitals, clinical laboratories, physician clinics, and others. The clinical laboratories segment accounted for a significant share of the global Lyme disease diagnostics market in 2020. Healthcare practitioners recommend laboratory testing for diagnosis of the Lyme disease, and laboratories have all equipment required for Lyme disease testing.

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Lyme Disease Most Common in U.S.

In terms of region, the global Lyme disease diagnostics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global Lyme disease diagnostics market in 2020, followed by Europe. North America accounted for large market share in 2020, as Lyme disease is a highly common vector-borne disease in the U.S., with more than 30,000 new cases every year. Only a few tests are available in the market that accurately diagnose Lyme disease. Moreover, frequent mutations and genotypic variations in the causative bacteria increase the prevalence among the population.

The Lyme disease diagnostics market in Europe is anticipated to expand at a high CAGR from 2021 to 2031, as Lyme disease is a common condition in the region. The increase in incidence of Lyme disease is expected to drive the market in Europe over the next few years. The number of cases in the region has increased steadily, with over 360,000 cases reported in the past two decades. These factors are likely to propel the market in Europe during the forecast period.

Competition Landscape of Lyme Disease Diagnostics Market

The global Lyme disease diagnostics market is fragmented due to the presence of a large number of leading players. Key players operating in the global market include T2 Biosystems, Inc., QIAGEN, DiaSorin S.p.A, Bio-Rad Laboratories, Thermo Fisher Scientific, Inc., Trinity Biotech plc, IGeneX Inc., Lyme Diagnostics Ltd., PerkinElmer, Inc., Oxford Immunotec plc (Boulder Diagnostics), Cenogenics Corporation, Quest Diagnostics, Ceres Nanosciences, Inc., and Galaxy Diagnostics.

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