The Global Lyme Disease Treatment Market Growth Accelerated By Rising Disease Prevalence



Global Lyme Disease Treatment Market Growth
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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