Global Lyme Disease Treatment Market Is Estimated To Witness High Growth Owing To Growing Incidences Of Lyme Disease And Rising Investment In Research And Developmental Activities
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Lyme Disease Treatment |
Some people infected with Lyme disease also develop an inflammation of the heart muscle or the tissue that covers the heart. If left untreated, the bacteria that cause it can spread to other parts of the body and cause serious symptoms like heart problems or nerve damage. These problems are rarely fatal, whereas they can be disabling.
The global Lyme
Disease Treatment Market was valued at $737.4 million in 2021 and is
projected to reach $1.7 billion by 2031, growing at a CAGR of 8.42% from 2022
to 2031.
The first sign of Lyme disease is often a
rash, which may spread from the site of the tick bite to other parts of the
body, usually within 3 to 10 days. Other symptoms can include headache, fever,
fatigue, joint and muscle pain, or a feeling of being unwell. For most people
with Lyme disease, antibiotics kill the bacteria that cause the infection. In
up to 20% of cases, they don't work, and lingering symptoms like fatigue, joint
pain and cognitive problems can persist for years.
In most
cases, this rash and flu-like symptoms are treated with an oral antibiotic
regimen of doxycycline, amoxicillin or cefuroxime for 10 to 21 days. If the
illness spreads to joints, the heart or nervous system, the doctor might prescribe
additional antibiotics.
Market Dynamics:
Growing research and developmental activities
are estimated to augment growth of the global Lyme disease treatment market during
the forecast period. For instance, in April 2022, Valneva and Pfizer announced
that phase 2 data for VLA15, Lyme disease vaccine candidate was positive. The
phase 3 trial will evaluate VLA15 in pediatric and adult patients. Moreover, lack of awareness regarding the disease and rising
cost of treatment is anticipated to restrain the growth of the global Lyme disease
treatment market during the forecast period.
Impact of COVID-19:
During the pandemic, there were several
challenges in providing to medical care delivery. Lockdowns imposed in many sectors prohibited
the movement of patients, which caused an overburden on the healthcare sector. COVID-19 had a negative impact on
the growth of the Lyme Disease
Treatment Market, as
healthcare professionals were focusing on treating COVID-19 patients.
As many
strict lockdowns were imposed in many parts of the world, people suffering from
Lyme disease were reluctant to visit hospitals, so as to avoid transmission of
COVID-19. Thus, the pandemic restrained the growth of the global Lyme disease treatment
market.
Key Takeaways:
The global Lyme disease treatment market is
expected to witness significant growth, exhibiting CAGR of 4.9 % over the forecast period, due to increasing clinical
trials. For instance, Moderna Inc, unveiled two novel mRNA vaccine candidates
in their development pipeline, in April 2023, for treating Lyme disease.
This growing prevalence of diabetes is
expected to propel the global Diabetes
Devices And Drugs Market over the forecast years.
North America is estimated to witness high growth in the global
Lyme disease treatment market over the forecast period, due to growing prevalence of healthcare infrastructure and rising
prevalence of Lyme disease.
Key players operating in the global Lyme Disease Treatment Market are Amneal Pharmaceuticals LLC, GlaxoSmithKline plc, Orion
Corporation, Pfizer, Inc., Perrigo Company plc, Novartis AG, Sun Pharmaceutical
Industries Ltd., F. Hoffmann-La Roche Limited., Chartwell Pharmaceuticals,
Almirall, Lupin Pharmaceuticals, Inc., Mayne Pharma, Galderma Laboratories,
L.P., and BoehringerIngelheim International GmbH.
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