DUBLIN--(BUSINESS WIRE)--The "Lyme Disease Diagnostic Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Lyme Disease Diagnostic Market is expected to register a CAGR of 5.5% during the forecast period.
The Lyme disease diagnostic market is growing at a good rate owing to factors such as rise in prevalence of lyme disease and emergence of new lyme diagnostic tests. A Lyme disease is a caused by the bacterium borrelia burgdorferi and transmitted through a bite of infected blacklegged deer tick in humans. Several test such as ELISA test used to detect antibodies to B. burgdorferi. If the ELISA test is positive, then further Western blot test is carried out to detect proteins of B. burgdorferi.
Moreover, increasing number of cases of tick born diseases is also promoting the growth of lyme disease diagnostic market. For instance, in 2018, according to Centers for Disease Control and Prevention number of cases of tick-borne diseases reported was 47,743, leading to adoption of lyme disease diagnostic tests. Furthermore, rising incidences of new vector borne diseases, growing government initiatives and rising healthcare expenditure are some more factors which are fueling the market growth.
Key Market Trends
Serological test Segment is Expected to be a largest growing segment in the Lyme Disease Diagnostic Market.
Serological test is a diagnostic method that is particularly used for identifying antibodies and antigens in patients sample which can be serum, plasma, semen and saliva.
Serological test is expected to dominant the segment as this test is highly preferable among all the test owing to measures the antibodies in the late phase of the illness when both nucleic acid test and polymerase chain reaction test is negative. These tests are very beneficial in terms of evaluating Lyme disease. Serological tests includes ELISA, agglutination, precipitation and western blot methods used to identify infectious diseases. Moreover, rising prevalence lyme disease and growing demand of diagnostic tests among targeted patient pool opt for this test and promote the lyme disease diagnostic market.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a significant market share in the global lyme disease diagnostic market. This can be attributed to increasing prevalence of tick borne diseases, increasing initiatives by government and private institute for diagnosing the lyme disease in this region. For instance, according to Centers for Disease Control and Prevention(CDC), around 300000 people were diagnosed with Lyme disease every year in North America. Furthermore, increasing healthcare expenditure and presence of well-established healthcare infrastructure is also fuelling the growth of the overall regional market to a large extent.
The Lyme Disease Diagnostic Market is moderately competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are in the market are T2 Biosystems, Inc, Abbott, Bio-Rad Laboratories, Inc., Graphene Frontiers, Oxford Immunotec USA, Inc., Covance Inc. and ROCHE DIAGNOSTICS INTERNATIONAL LTD.
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Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Prevalence of Lyme disease
4.2.2 Favourable government towards healthcare facilities
4.2.3 Emergence of new lyme diagnostic tests
4.3 Market Restraints
4.3.1 Lack of Awareness regarding the disease
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By diagnostic technology
5.1.1 Serological test
126.96.36.199 Western Blot
5.1.2 Lymphocytic transformation test
5.1.3 Urine Antigen Testing
5.1.4 Immunofluorescent staining
5.1.5 Nucleic acid test
5.2 By End User
5.2.2 Clinical laboratories
5.3.1 North America
5.3.4 Middle-East and Africa
5.3.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.2 Bio-Rad Laboratories, Inc.
6.1.3 Covance Inc.
6.1.4 F. Hoffmann-La Roche AG
6.1.5 T2 Biosystems, Inc
6.1.6 Oxford Immunotec USA, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/bglzfb