Global Lyme Disease Treatment Market Growth
The Lyme disease treatment market is expected to exhibit significant growth
over the forecast period owing to the rising prevalence of Lyme disease
globally. Lyme disease, also known as Lyme borreliosis, is a tick-borne illness
caused by the bacterium Borrelia burgdorferi and rarely by Borrelia mayonii. It
is transmitted through the bite of infected blacklegged ticks, commonly known as
deer ticks. If not treated promptly with appropriate antibiotics, the infection
can spread to the joints, heart, and nervous system. Broad-spectrum antibiotics
such as doxycycline, amoxicillin, and cefuroxime axetil are used to treat Lyme
disease.
The 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 5.0% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
The rising prevalence of Lyme disease globally is anticipated to be a major
driver for market growth over the forecast period. As per estimations, around
476,000 Americans are diagnosed with Lyme disease each year. The disease
continues to spread at an alarming rate, with several new county and state
records for new Lyme disease cases reported each year. Moreover, climate change
and geographical expansion of deer tick populations are facilitating the
emergence and spread of Lyme disease into new regions, thereby propelling
demand for effective treatment options. The development of novel drugs with
reduced treatment durations and improved safety profiles is expected to present
lucrative growth opportunities for leading market players during the forecast
period.
Segment Analysis
The global Lyme disease treatment market is segmented into diagnosis and
treatment. The treatment segment is expected to hold the largest market share
owing to the increasing demand for antibiotics to treat Lyme disease. Within
the treatment segment, antibiotic drugs sub-segment dominates as they are
widely prescribed by physicians to patients diagnosed with early stage Lyme
disease. Doxycycline, amoxicillin, and cefuroxime axetil are some of the
commonly prescribed antibiotics.
Key Takeaways
Global
Lyme Disease Treatment Market Growth is expected to witness high growth
over the forecast period of 2023-2030. The growing incidences of Lyme disease
across various regions and rising healthcare awareness are expected to drive
the market growth.
Regional analysis:
North America is currently the dominant region in the global Lyme disease
treatment market. This can be attributed to factors such as increasing
prevalence of Lyme disease cases, growing consumer awareness, and easy
accessibility to advanced treatment options. Over 50% of the global Lyme
disease cases are recorded in the United States alone.
Key players:
Key players operating in the Lyme disease treatment market are Sanofi, Pfizer
Inc., Novartis AG, Teva Pharmaceutical Industries Ltd., Mylan N.V., Sun
Pharmaceutical Industries Ltd., Hikma Pharmaceuticals, Zydus Cadila, Lannett
Company, Inc., Strides Pharma Science Limited, Cipla Ltd., Lupin Limited,
Aurobindo Pharma Limited, Torrent Pharmaceuticals Ltd., Reddy's Laboratories
Ltd. Sanofi dominates with its Doxycycline and Amoxicillin products being
prescribed extensively for Lyme disease treatment.
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