Global Lyme Disease Treatment Market Size to Reach USD 1,826.3 Million in 2032 | Emergen Research

Increase in the number of Lyme disease cases across the globe is a key factor driving market revenue growth

Vancouver, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The global Lyme disease treatment market size was USD Million 850.0 in 2022 and is expected to register a revenue CAGR of 8.5% during the forecast period, according to latest analysis by Emergen Research. Increasing investment by major companies and rising development in healthcare facilities and diagnostic procedures across the globe are projected to support revenue growth of the Lyme disease treatment market during the forecast period. For both people and animals suspected of having been in touch with the disease, the greater accuracy of Spectroscopic testing may improve diagnosis procedures for Lyme disease.

The new test could benefit mobile veterinary services for animals because it would just need a random subset that could be conveniently collected outside of a veterinarian clinic or hospital. Raman spectroscopy testing for humans has the potential to greatly reduce the time required for testing, increase the precision of the diagnosis, reduce the cost of making the diagnostic, and enhance overall health by making the disease diagnosis earlier.

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An estimated 476,000 Americans get infected with Lyme disease each year, an illness that can have a variety of symptoms like fever, rash, and joint discomfort as well as negative consequences on the heart and central nervous system. Although antibiotic treatments for Lyme disease are successful, it is common in North America, Europe, and Asia. In some individuals, symptoms can last for months or even years despite antibiotic treatment.

The most significant element that confuses a patient's subsequent western blot treatment is misdiagnosis, which is hampering revenue growth of the market.

Scope of Research

Report DetailsOutcome
Market Size in 2022USD 805.0 Million
CAGR (2023–2032)8.5%
Revenue Forecast to 2032USD 1,826.36 Million
Base Year for Estimation2022
Historical Data2019–2021
Forecast Period2023–2032
Quantitative UnitsRevenue in USD Million and CAGR in % from 2023 to 2032
Report CoverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments CoveredTreatment type, administration route, distribution channel, application, and region
Regional ScopeNorth America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country ScopeU.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies ProfiledGSK plc., Pfizer Inc., Sun Pharmaceuticals Industries Ltd., Novartis AG, Lupin Pharmaceuticals, Inc., Perrigo Company plc, ChartwellPharma, Mayne Pharma Group Limited, Almirall, S.A, Orion Oyj
Customization Scope10 hours of free customization and expert consultation

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Major Companies and Competitive Landscape

The global Lyme disease treatment market is consolidated with small and large-sized companies accounting for the majority of market revenue. Major companies are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, and developing, testing, and introducing more effective Lyme disease treatments. Some major companies included in the global Lyme disease treatment market report are:

  • GSK plc.
  • Pfizer Inc.
  • Sun Pharmaceuticals Industries Ltd.
  • Novartis AG
  • Lupin Pharmaceuticals, Inc.
  • Perrigo Company plc
  • ChartwellPharma
  • Mayne Pharma Group Limited
  • Almirall, S.A
  • Orion Oyj

Strategic Development

  • On 16 June 2021, an innovative, verbal, non-vaccine therapeutic for the prevention of Lyme disease called TP-05 has begun dosing participants in Tarsus Pharmaceuticals, Inc.'s first clinical trial. The company is a late-stage biopharmaceutical company to focus on unmet needs and revolutionizes patient treatment, starting with eye care. An only one elevated dose and numerous ascending dose trials, the Phase 1 Callisto trial examines the Pharmacokinetics (PK) of TP-05 in healthy subjects.

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Some Key Highlights From the Report

  • The animal segment is expected to register the second-largest revenue CAGR during the forecast period. The prevalence of Lyme disease in small animals has significantly increased. Diagnostic and therapeutic efforts are highly required, particularly in dogs. Stridently, the rise in owning a pet will broaden opportunities for major companies in the market.
  • The medication segment is expected to register the largest revenue CAGR during the forecast period. Most instances of early Lyme disease are successfully treated with a provides the direction of oral antibiotics such as doxycycline or amoxicillin. With four weeks of antibiotic medication, Lyme disease is successfully cured in more severe cases.
  • Market in North America accounted for the largest revenue share in 2022. Although preventative methods, such as using repellant and inspecting for ticks, are advised to aid in personal protection, there is little proof that they are influencing the annual number of Lyme disease cases.
  • On 08 August 2022, the phase three clinical trial of Vaccine Against Lyme for Outdoors Recreationists (VALOR) was launched by Pfizer Inc. and Valneva SE to examine the efficacy, safety, and immunology of their experimental Lyme disease vaccine candidate, VLA15.

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Emergen Research has segmented the global Lyme disease treatment market on the basis of treatment type, administration route, distribution channel, application, and region:

  • Treatment Type Outlook (Revenue, USD Million; 2019–2032)
    • Medication
    • Tick Removal
  • Administration Route Outlook (Revenue, USD Million; 2019–2032)
    • Oral
    • Injectable
    • Topical
  • Distribution Channel Outlook (Revenue, USD Million; 2019–2032)
    • Hospital
    • Retail
    • Online
  • Application Outlook (Revenue, USD Million; 2019–2032)
    • Human
    • Animal
  • Regional Outlook (Revenue, USD Million; 2019–2032)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. U.K.
      4. Italy
      5. Spain
      6. Benelux
      7. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Turkey
      5. Rest of MEA

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