LymeLyme Disease Treatment Market to Reach US$ 3 Bn by 2031: TMR Study
2022-09-29
Adoption of medications as first-line treatments of lyme disease and research on antibiotic therapies creating lucrative avenues; growing awareness of incidence and burden of disease in canines expanding avenues in lyme disease treatment market
Early diagnosis using advanced assays enriching prospects; Prevalence of lyme disease in North America, attributed to rising tick-borne diseases, presents ample opportunities
WILMINGTON, Del., Sept. 29, 2022 /PRNewswire/ -- Rise in prevalence of lyme disease in humans as well as animals and awareness of the long-term health impacts for those affected are fueling the growth of lyme disease treatment market. Rise in adoption of medications notably generic medicines and acceptance of antibiotic therapies have propelled sales of lyme disease treatment market. The lyme disease treatment market size is forecast to reach US$ 3 Bn by 2031.
Growing spending on clinical studies particularly placebo-controlled clinical trials has expanded the clinical understanding of the disease, thereby enabling researchers to develop more effective management strategies, thus catalyzing lyme disease treatment market growth. Of note, growing number of randomized placebo–controlled clinical trials in developed regions such as Europe and North America will pave the way for treatments that can reduce the burden of new tick-borne disease cases.
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An in-depth TMR study on the lyme disease treatment market observed that introduction of many advanced diagnostics with high sensitivity and specificity have enriched the value chain of players. Focus of diagnostic companies on diagnosing the most prevalent tick-borne pathogens in multiple ways will open up new revenue streams. They are assisting clinicians in early diagnosis of the lyme disease.
Key Findings of Lyme Disease Treatment Market Study
Widespread Adoption of Medications Particularly Oral Propelling Revenue Generation: Rising demand for medications for lyme disease treatment has steered substantial revenue streams. Of note, oral medications present a large lucrative avenue, and they are preferred for blocking joint pain. Companies have benefited from the commercialization of novel diagnostic assays that aim for accurate and timely diagnosis.
Growing Awareness of lyme Disease in Animals Expanding Prospects: Incidence of lyme disease in small animals has grown significantly. Particularly in dogs, the need for diagnosis and treatment is high. Stridently, rise in pet ownership will expand the canvas for players in lyme disease treatment market. Nation health agencies are geared toward exploring novel approaches for the diagnosis and treatment of the lyme disease. Occurrence of post-treatment lyme disease syndrome (PTLDS) is a concerning issue for the healthcare community, in large part due to glaring rates of initial delayed or misdiagnosis. They are raising awareness about vector borne diseases in endemic areas.
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Lyme Disease Treatment Market: Key Drivers
Increase in tick-borne diseases including those caused by emerging vector-borne pathogens is a key driver of lyme disease treatment market. Ongoing studies on expanding clinical understanding of lyme disease will expand the horizon for more effective diagnosis and treatment of the disease.
Growing initiatives by governments for raising the awareness of veterinary care and burden of the lyme disease on small animals are creating promising growth avenues for firms in lyme disease treatment market.
Lyme Disease Treatment Market: Regional Dynamics
North America has witnessed enormous revenue prospects and is anticipated to remain lucrative throughout the forecast period. High prevalence of tick-borne or vector-borne diseases has spurred the need for novel treatments for lyme disease. Growing investment by medical research agencies in the region is spurring the revenue generation. Commercialization of advanced diagnostic methods and medications for the management of lyme disease is reinforcing the pace of revenue generation in the regional market in recent years.
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Lyme Disease Treatment Market: Key Players
Some of the key players in lyme disease treatment market include Amneal Pharmaceuticals LLC, Orion Corporation, Perrigo Company plc., Perrigo Company plc., Lupin Pharmaceuticals, Inc. Almirall, LLC, F. Hoffmann-La Roche Ltd., Novartis AG, Pfizer, Inc., GlaxoSmithKline plc.
Companies are increasingly focused on harnessing retail pharmacy distributions to consolidate their positions in the near future.
LymeLyme Disease Treatment Market Segmentation
Treatment Type
Medication
Antibiotics
Tetracycline
Macrolides
Others
NSAID
Others
Tick Removal
Type of Bacteria
Borrelia burgdorferi
Borrelia mayonii
Borrelia afzelii
Borrelia garinii
Others
Route of Administration
Oral
Topical
Application
Humans
Animals
Hospital Pharmacies
Online Pharmacies
Region
North America
Europe
Latin America
Middle East & Africa
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