Lyme Disease Treatment Market Growth, Trends, COVID-19 Impact Forecasts (2022 - 2028)

According to Precision Business Insights (PBI), the latest report, the lyme disease treatment market is expected to be valued at USD 857.3 million in 2022 and is poised to grow at a significant CAGR of 8.7% over 2022-2028. The primary driver of the expansion of the global Lyme Disease Treatment market are increasing cases of lyme disease among a large section of people across the globe, and increasing research and development activities for proper, and cost-effective treatment.

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Oral Segment to Dominate the Lyme Disease Treatment Market:
Based on the route of administration, The oral sub-segment is expected to have a dominant Lyme disease treatment market share and generate significant revenue during the forecasted period. As, Oral drug delivery is the most common route of administration route due to having more patient adherence, easy to take, and also does not need any clean and sophisticated environment. If the patient feels nausea or vomiting during traveling, they can easily consume it by oral route. It is also cost-effective comparably to any other administration route available in the market. Oral Doxycycline is more efficient than another route which is also comparatively proven by a clinical trial. The oral route is beneficial for persons having joint swelling and for Erythema migrans which is the first sign of Lyme disease.

North America Lyme Disease Treatment Market:
North America accounted for a considerable market share in the global lyme disease treatment market and is anticipated to lead the market due to rising cases of lyme diseases among a large portion of people. Furthermore, well-established healthcare facilities and infrastructure, huge investments for research and development activities for identifying antibodies of lyme disease. Moreover, the presence of prominent players in this market would be expected to introduce proper and more effective treatment of Lyme disease, consequently boosting the market growth during the forecasted period.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Lyme Disease Treatment market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

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The lyme disease treatment market is segmented based on disease type, treatment type, route of administration, distribution channel, and geography:
Based on the disease type, the market is segmented into the following:
• Early Lyme disease (absence of erythema migrans)
• Lyme carditis
• Lyme arthritis
• neurologic Lyme disease
• Borrelial lymphocytosis
• Post-treatment Lyme Disease Syndrome (PTLDS)

Based on the treatment type, the market is segmented into the following:
• Doxycycline
• Amoxicillin
• Cefuroxime axetil
• Ceftriaxone
• Others (azithromycin, clarithromycin, erythromycin)

Based on the route of administration, the market is segmented into the following:
• Oral
• Injectable
• Topical

Based on the distribution channel, the market is segmented into the following:
• Hospital Pharmacies
• Retail Pharmacies
• Online

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the lyme disease treatment market report are Galaxo SmithKline Plc., Perrigo Company Plc., Pfizer, Inc., Orion Corporation, Novartis AG, Mayne Pharma, Sun Pharmaceuticals Industries Inc., Lupin Pharmaceuticals, Inc., Chartwell Pharmaceuticals, and Almirall, LLC.

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