Growing chronic disease prevalence will boost the maggot debridement market, forecast to touch US$ 15 Mn by 2025 at a CAGR of 10%
Noida, Uttar Pradesh, India, February 22 2021 (Wiredrelease) Report Ocean Pvt Ltd –:Global Maggot Debridement Market is estimated to see healthy growth, pegged at a CAGR of ~10% during the forecast period 2020-2025. The worldwide rise in the chronic disease incidence such as cancer, diabetes, and other autoimmune disorders significantly contributes to market growth. According to the National Diabetes Statistic (NDS) Report 2017, over 100 million US people live with diabetes or prediabetes published by the CDC. Furthermore, as per the International Diabetes Federation (IDF), the global prevalence of diabetes is likely to surge from 366 million in 2011 to 552 million by 2030. Since prolonged diabetes may lead to diabetic foot ulcers, the rising diabetes incidence is further expected to influence the maggot debridement market’s growth. Furthermore, the loose larva and bio bags are the latest technology used to treat diabetic foot ulcers, venous leg ulcers, and pressure ulcers.
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Large Number of People Suffering from Acute Wounds
Large Number of people suffering from acute wounds, including surgical wounds and burn wounds. Moreover, the rising number of patients suffering from burn wounds and their need to adapt to different treatment types is propelling the maggot debridement. Furthermore, as per the Centers for Disease Control (CDC), over 1.1 million US individuals suffer from burn injuries that need medical attention every year. Around 50,000 of these burn injuries require hospitalization, and 20,000 suffer from major burns covering 25% of their body surface. Roughly 4,500 burn victims die annually due to their injuries, and as many as 10,000 individuals in the US die each year owing to the burn-related infections.
Large pool of people who have venous leg cancer in the US is a vital factor. Also, venous leg cancer is a sore on the leg that’s very slow to heal, usually due to the limb’s weak blood circulation. Moreover, according to the US National Institute of Health, it is estimated that venous leg cancer causes the loss of 2 million working days per year. VLU accounts for 70%-90% of ulcers found on the lower leg, and the prevalence of venous ulcers in the US is approximately 600,000 annually.
However, maggot debridement’s side-effects serve as a significant setback for the Maggot Debridement Market’s growth during the forecast period 2020-2025. The maggot debridement treatment has limited effectiveness, intense pain, and mechanical damage to lower body tissue. Also, the high cost of treatment is another factor hampering its market growth.
BioMonde, Monarch Labs, Mega Pharma Ltd, Smith, Nephew, BSN, Ethicon Inc., Paul Hartmann AG, 3M Company, and Baxter International Inc., among others, are crucial players included in the research study of the global maggot debridement market. Product development and launches are essential strategies that are expected to incorporate by the companies in the future.
Administration (Loose Larva, Biobags)
Application (Chronic Wounds (Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, Others), Acute Wounds (Surgical & Traumatic Wounds, Burn Wounds))
End-use (Hospital, Clinics, Wound Care Centers, Others)
By Region (Americas North America The U.S. Canada Mexico South America Brazil Rest of South America Europe Germany The U.K. France Rest of Europe Asia Pacific Japan China India Rest of Asia Pacific Middle East & Africa)
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