What is Lyme disease? What are the major symptoms and treatment available in market today?

 

Lyme disease or Lyme's disease is caused by the spirochete Borrelia burgdorferi. Commonly reported symptoms include severe headache, fever, dizziness, skin rash resembling eczema, and a severe infection with bacteria called erythrochocystitis. Complications may include joint damage, brain inflammation, paralysis, nerve damage, and permanent eye damage. Lyme disease is usually diagnosed by symptoms, behavioral findings (i.e., rash, muscle pain), and possible exposure to infected tick bites.

The growing prevalence of Lyme disease is a prime factor fueling market growth. An increase in the healthcare expenditure for improving medical services is driving the market growth. According to the World Health Organization, the global spending on the healthcare sector was US$ 7.8 trillion in 2017 or about 10% of GDP and $1,080 per capita – up from US$ 7.6 trillion in 2016. Rising awareness regarding Lyme disease around the globe is another major factor augmenting the market growth of the Lyme disease diagnostics market. An increasing number of research and development activities coupled with favorable government support is further projected to foster the market growth of the Lyme disease diagnostics market.

North America is expected to gain significant growth over the forecast period and this is attributed to the high prevalence of Lyme disease in the region. According to the U.S. Environmental Protection Agency, approximately 20,000–30,000 confirmed cases of Lyme disease per year. Also, the presence of well-established healthcare infrastructure coupled with the increasing investment by the government in the healthcare sector is further anticipated to propel the regional market growth.

Key Developments:

1. In November 2020, Galaxy Diagnostics, Inc., the provider of testing solutions for elusive flea and tick-borne pathogens, announced the launch of the Nanotrap® Urine Test for Lyme Borreliosis.

2. In July 2020, Adaptive Biotechnologies Corp. announced the launch of ImmuneSense Lyme™, a research study to inform the development of an improved test to detect Lyme disease in the early stages of infection, when the disease is most treatable but often missed or misdiagnosed.

3. In May 2020, The French biotech Valneva collaborated with Pfizer to develop and commercialize Valneva’s phase II-stage Lyme disease vaccine candidate.

4. In June 2019, QIAGEN and DiaSorin announced the expansion of their QuantiFERON collaboration to develop an ultra-sensitive diagnostic test for Lyme disease, which is projected to address a significant unmet medical need.

5. In April 2020, Valneva SE, a specialty vaccine company, and Pfizer Inc. (NYSE: PFE) announced a partnership to develop and commercialize Valneva’s Lyme disease vaccine candidate VLA15, which is currently in Phase 2 clinical studies.