Lyme Disease Diagnostic Devices Market- By Technology , By Diagnostic Tests , By End Use Industry , By Geography - Global Opportunity Analysis & Industry Forecast, 2024 - 2030.

Lyme Disease Diagnostic Devices Market Overview

Lyme Disease Diagnostic Devices Market Size is forecast to reach $3631 Million by 2030, at a 5.30% during forecast period 2024-2030.Infected ticks spread Lyme disease, which is a vector-borne disease. Dizziness, headaches, inflammation, weariness, joint or body discomfort and erythema migrants (EM); a circular red rash that does not emerge frequently; making it difficult to identify. So, sophisticated diagnostic tools are required to quickly identify possible Lyme disease targets. The development of quick, point-of-care tests to evaluate whether patients are infected with “Borrelia burgdorferi”, the bacteria that causes Lyme disease, is critical; as early and active assessment is necessary to detect and treat Lyme illness. Blood tests like Lymphocytic Transformation Test, Nucleic acid Test and Serological Test, not only detects Lyme disease, but it is also the most accurate and preferred method of diagnosis like Immunofluorescent Staining. Western blot testing on the cerebrospinal fluid (CSF) can be done if a patient with Lyme disease displays evidence that the disease has impacted the central nervous system. Since Lyme illness is quite common all over the world, the need for precision diagnostic instruments is increasing, propelling the Lyme Disease Diagnostic Devices Market forward.

Furthermore, during the projected period, an increase in the incidence of Lyme disease, rising policy attention on enhancing health care services, and the introduction of new Lyme disease diagnostic tests are expected to drive product demand. Also, the hiking rates of new vector-borne diseases, expanding government initiatives and rising healthcare expenditure is set to propel the Lyme Disease Diagnostic Devices Industry growth during the forecast period 2024-2030.

Report Coverage

The report: “Lyme Disease Diagnostic Devices Market Forecast (2024-2030)", by Industry ARC covers an in-depth analysis of the following segments of the Lyme Disease Diagnostic Devices Market.

By Technology: Molecular Diagnostics, Brain MRI, Spinal Tap, Echocardiogram, Electrocardiogram, Monoclonal Antibodies, Flow Cytometry, Gel Microdroplets and Others.
By Diagnostic Tests: Serological Test, Nucleic Acid Amplification Techniques, Urine Antigen Tests, Lymphocytic Transformation Test, Immunofluorescent Staining, PCR Analysis and Others.
By End Use Industry: Hospitals and Clinics, Pathology labs, Pharmaceutical Industries, Clinical Research Institute and others.
By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom), France, Italy, Spain, Russia and the Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia New Zealand and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), and Rest of the World (the Middle East and Africa).

Key Takeaways

• Geographically, North America held a dominant market share in the year 2021 on account of the healthcare infrastructure which is well developed, and the presence of established companies manufacturing Lyme Disease Diagnostic Devices. Europe is expected to offer lucrative growth opportunities to the manufacturers owing to the rising prevalence of Lyme diseases, demand for better healthcare facilities and increase in healthcare expenditure.
• Rising disposable income and advancement of R&D activities further enhance the overall market demand for Lyme Disease Diagnostic Devices Market during the forecast period of 2022-2027. However, a lack of awareness about Lyme disease diagnosis in undeveloped and developing regions is projected to limit the target of market's growth to some extent.
• A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the Lyme Disease Diagnostic Devices Market Report.

Lyme Disease Diagnostic Devices Market Segmentation Analysis - By Diagnostic Tests

Lyme Disease Diagnostic Devices Market based on diagnostic tests can be further segmented into Serological tests, Nucleic Acid Amplification Techniques, Urine Antigen Tests, Lymphocytic Transformation tests, Immunofluorescent Staining, PCR Analysis and Others. Serological Test held a dominant market share in the year 2021 and is also projected to grow at a CAGR of 5.8% over the forecast period of 2022-2027. Serologic assays detect pathogen exposure indirectly by measuring antibodies in the blood, regardless of whether an infection is in the present or past. These tests are extremely helpful in determining the Lyme disease. To identify infectious diseases, serological assays such as ELISA, agglutination, precipitation and western blot are utilized. Furthermore, the rising number of cases of tick-borne infections is propelling the Lyme disease diagnostic market forward. For example, the Centers for Disease Control and Prevention recorded 47,743 cases of tick-borne infections in 2019, prompting the introduction of Lyme disease diagnostic tests that resulted in segment growth.

Lyme Disease Diagnostic Devices Market Segmentation Analysis- By End-Use Industry

Lyme Disease Diagnostic Devices Market based on end-use industry can be further segmented into Hospitals and Clinics, Pathology labs, Pharmaceutical Industries, Clinical Research Institute and others. The hospitals & clinics segment held a dominant market share in the year 2021 and is also projected to grow at a CAGR of 5.3% over the forecast period of 2022-2027. Hospitals are well-equipped to manage high patient volumes and use cutting-edge diagnostic and treatment methods. The increased market share of hospitals in the end-user sector of the Lyme Disease Diagnostic Devices Market is due to these factors. Infections induced by injections and parasites in humans are known as vector-borne diseases. More than 1 billion people are affected each year, and more than 1 million people die as a result of these vector-borne diseases. Bacteria, parasites and viruses can infect them. Vector-borne infections are responsible for more than 16% of all diseases and disabilities worldwide; with more than half of the world's population at risk, contributing to the growth of this segment.

Lyme Disease Diagnostic Devices Market Segmentation Analysis- By Geography

The Lyme Disease Diagnostic Devices Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 39% in the year 2021 as compared to its other counterparts on account of its well-developed healthcare infrastructure, skilled professionals, high donor awareness as well an increasing number of R&D activities for device manufacturing and development. Furthermore, the United States is home to a large number of market participants. As a result, the revenue generated by these firms contributes to the regional market's growth. Lyme disease is the most common vector-borne disease in the United States, meaning it is spread by mosquitoes, ticks or fleas. In recent years, the Centers for Disease Control and Prevention has received reports of 20,000–30,000 confirmed cases of Lyme disease per year, thereby generating regional revenue.

However, Europe is estimated to be the fastest-growing, with a CAGR of 8.9% over the forecast period of 2024-2030 owing to rising Lyme disease cases. The market is expected to rise due to the ever-increasing number of healthcare institutions, rising need for diagnostic centers and expanding R&D projects.

Lyme Disease Diagnostic Devices Market Drivers

Technological Advancement in the Field of New Diagnostic Approach is Driving the Market Growth

One of the primary driving growth drivers for the studied market is technological developments in the field of Lyme Disease Diagnostic Devices and improvements in existing devices, as well as increased research & development activities and investments in the area of molecular diagnostics, globally. According to the American Association for the Advancement of Sciences April 2019 report, the National Institute of Health's total budget in 2019 was USD 37,224 million, which increased by about 5.6 percent to USD 39,306 million in 2019. This included the fund for research activities for various diseases and medical conditions several prominent companies have expanded their Lyme disease diagnostics portfolios in response to the approval, offering novel Lyme disease diagnostics. For instance, in April 2019, Bio-Rad launched ‘BioPlex 2200 Lyme Total Assay’, an automated multiplex technology platform to aid in the diagnosis of Lyme Disease. T2 Biosystems created the T20 Lyme Panel diagnostic technology for detecting germs that cause Lyme disease, propelling the Lyme disease diagnostics market forward.

Growing Prevalence of Lyme Disease is Enhancing Lyme Disease Diagnostic Devices Industry

With over 30,000 cases reported to the Centers for Disease Control and Prevention (CDC) each year, Lyme disease is the most common arthropod-borne disease in the United States. Nonetheless, according to CDC reports, the number of confirmed Lyme disease cases is likely ten times higher. Many instances occur in only 12 of the 50 states, with a concentration in the New England, Mid-Atlantic and Upper Midwest regions. Lyme disease has also spread to neighboring nations, such as Canada, where 917 confirmed cases were reported in 2019, pushing the need for Lyme Disease Diagnostic Devices. The number of countries with an incidence of 10 confirmed cases per 100,000 people grew from 324 in 2008 to 415 in 2019, according to the Centers for Disease Control and Prevention. As a result, the market for Lyme disease diagnostics devices is being driven by a rise in the prevalence of the condition.

Lyme Disease Diagnostic Devices Market Challenges

Limited Awareness in Lyme Disease Diagnostic Process Poses Threat to Market Growth

The lack of global understanding of the various symptoms of Lyme disease is one of the most significant barriers to market growth. In addition, there aren't enough investors to create amazing diagnostic technologies for identifying Lyme illness, which limits the market's potential growth. Lyme illness can also be difficult to detect for a variety of reasons. Many of the diseases’ typical symptoms such as headaches, dizziness and joint/body pain are also found in other disorders, limiting the market expansion. Also, the treatment is very high that hampers the market growth. According to CDC, Lyme disease costs the US health care system between $712 million and $1.3 billion a year, with an estimated 240,000 to 440,000 new cases identified each year.

Lyme Disease Diagnostic Devices Industry Outlook

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Lyme Disease Diagnostic Devices Market. The top 10 companies in the Lyme Disease Diagnostic Devices Market are:

1. Abbott Laboratories
2. Qiagen, Inc.
3. Biosystems
4. Bio-Rad Laboratories
5. Immunetics Inc
6. Roche Diagnostics International Ltd.
7. T2 Biosystems
8. Graphene Frontiers
9. Alere Inc (ALR)
10. Boulder Diagnostics

Recent Developments

• In July 2019, Qiagen and DiaSorin have expanded their QuantiFeron cooperation to produce an ultra-sensitive Lyme disease diagnostic test. According to the firms, the QuantiFeron-Lyme test will be used in conjunction with Liaison Borrelia IgG and IgM assays, risk assessment and other medical and diagnostic assessments, making it synergistic with DiaSorin's Liaison IgM assays.
• In April 2019, Bio-Rad Laboratories Inc., a global leader in life science research and clinical diagnostic technologies, announced that its BioPlex 2200 Lyme Total Assay, a revolutionary multiplex test method to aid in the diagnosis of Lyme disease, has gained FDA clearance.
• In January 2019, T2 Biosystems Inc., has launched the T2Lyme PanelTM, which is said to be more accurate than previous diagnostics in detecting Borrelia infections in patients with early Lyme disease. The T2Lyme Panel is designed to detect Lyme disease-causing bacteria in 3 to 5 hours utilizing the fully automated FDA-cleared T2Dx® Instrument.

Key Market Players:

The Top 5 companies in the Lyme Disease Diagnostic Devices Market are:

1. T2 Biosystems, Inc
2. Bio-Rad Laboratories
3. Oxford Immunotec USA, Inc
4. Roche Diagnostics International Ltd
5. Abbott Laboratories 

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