Why Lyme Disease Treatment Market Will Be Your Next Big Obsession ?

Lyme disease is a bacterial infection caused by the bite of infected black-legged ticks. Early treatment with antibiotics is crucial for effective treatment and prevention of long-term complications. The recommended treatment for early-stage Lyme disease is a course of oral antibiotics, such as doxycycline, amoxicillin, or cefuroxime, for a period of two to four weeks.
If Lyme disease is not diagnosed and treated in its early stages, it can spread to other parts of the body and cause more serious symptoms, such as joint pain, neurological problems, and heart palpitations. In these cases, intravenous antibiotics may be necessary.

It is important to seek medical attention as soon as possible if you suspect that you have been infected with Lyme disease. Prompt treatment can help to prevent long-term complications and ensure a quick recovery. In some cases, even with prompt and appropriate treatment, some individuals may continue to experience symptoms. In these cases, additional treatment options, such as physical therapy or medication to manage symptoms, may be necessary.

The global Lyme disease treatment market accrued a sum of $737.5 million in 2021, and is estimated to reach $1.6 billion by 2031, witnessing a CAGR of 8.4% from 2022 to 2031.

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• CAGR: 8.4%
• Current Market Size: USD 737.5 million
• Forecast Growing Region: APAC
• Largest Market: North America
• Projection Time: 2021- 2031
• Base Year: 2021

Covid-19 scenario-
• The COVID-19 pandemic has negatively impacted the Lyme disease treatment market. The focus of healthcare professionals has shifted to diagnosing and treating covid-19 patients, delaying outpatient visits for other possible reasons in the process. Patients with Lyme disease symptoms have been asked to cancel testing as coronavirus cases have started to climb.
• Additionally, people with Lyme disease were reluctant to visit hospitals for fear of contracting COVID-19. All these problems have severely hindered the expansion of the global Lyme disease treatment market.
• The current focus of governments and ministries of health in several countries is to take immediate action to reduce the number of cases of Lyme disease.

Based on administration route, the oral segment held the largest share in 2021, grabbing nearly half of the global lyme disease treatment market, and is expected to maintain a noteworthy growth during the forecast period. This is due to the availability of a large number of drug products that are delivered orally. However, the injectable segment is projected to witness the fastest CAGR of 9.1% from 2022 to 2031, as injectable are safe, require little downtime, and are cost-effective.

Based on treatment, the medication segment contributed to the largest market share of nearly three-fourths of the global lyme disease treatment market in 2021, and is likely to maintain its dominance during the forecast period. Moreover, the same segment is expected to exhibit the highest CAGR of 8.5% from 2022 to 2031. This is because medication plays a vital role in tick removal, fighting illness and protect the subsequent infections.

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According to the Distribution Channel, the hospital pharmacy segment helped take the lion's share of more than half of the global Lyme disease treatment market in 2021 and is expected to maintain its leading status during the forecast period. This is due to the significant increase in the number of hospital visits and patient admissions. However, the online segment is expected to show the highest CAGR of 9.0% between 2022 and 2031.
This is because the online platform offers greater anonymity for consumers, lower transaction and product costs, and greater access. Based on region, North America held the highest market share in 2021, accounting for more than three-fifths of the global Lyme disease treatment market, and is expected to maintain its dominance over the forecast period, owing to an increase in the incidence of vector communicable diseases in the region. However, Asia-Pacific is projected to experience the fastest CAGR of 9.7% during the forecast period, due to increased awareness of Lyme disease, the cost of its treatment and an increase in disposable income in the region.

The key market players analyzed in the global Lyme Disease Treatment market report include,
• Galaxo SmithKline Plc.
• Pfizer, Inc.
• Novartis AG
• Mayne Pharma
• Sun Pharmaceuticals Industries Inc.
• Lupin Pharmaceuticals, Inc.
• Orion Corporation
• Perrigo Company Plc.
• Chartwell Pharmaceuticals
• Almirall, LLC

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