Maggot Debridement Market Size Is Projected to Reach $19.7 Million By 2027 | CAGR: 9.7% | Polaris Market Research

NEW YORK, Dec. 16, 2020 /PRNewswire/ -- The global maggot debridement market is anticipated to reach USD 19.7 million by 2027 according to a new study by Polaris Market Research. the market is anticipated to register a CAGR of 9.7% from 2020 to 2027. A large patient pool suffering from acute wounds including burn wounds and surgical wounds is the primary factory responsible for the growth of the maggot debridement market. The growing geriatric population and changing lifestyles leading to wrong eating habits are driving growth for the global market. In addition to this, rising cases of diabetes globally can lead to diabetic foot ulcers, pressure ulcers, and venous leg ulcers which eventually drive demand for maggot debridement. Moreover, increasing incidents of road accidents, burns, and trauma events across the globe further create growth avenues for the global market. 

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Key Takeaways of Maggot Debridement Market 

• By application, the chronic wounds segment accounted for the major market share and is expected to add more to it during the forecast period. The segmental growth is attributed to a rapid increase in the number of patients suffering from diabetes foot ulcers and venous leg ulcers.
• In terms of administration, the biobags segment leading the growth with largest revenue share in the market for maggot debridement. The segment is projected to experience a significant rise in demand owing to the growing prevalence of chronic wounds and the rising number of surgeries worldwide.
• Based on end-use, hospitals emerged as the fastest-growing region on account of a continuous increase in the rate of patients struggling from various chronic wounds and taking treatment in hospital settings. Advancements in healthcare facilities in hospitals resulted in increased patient admissions is further supporting segmental growth.
• North America dominated the market for maggot debridement due to rising geriatric population suffering, growing health consciousness among the population, and availability of better healthcare structure in the region.
• COVID-19 pandemic impacted the maggot debridement market as healthcare resources such as hospitals, medical professionals, and medical devices reallocated for the management of COVID-19 patients. This has opted out wound care from the list of essential procedures.

The significant factors favoring the global market growth include the increasing incidents of street mishaps, surgeries, burns, trauma, and road accidents globally that are responsible for the prolonged hospitalization due to the injuries & surgeries which drive the demand for these products. Every year around 2 million people are critically injured in accidents which have led to increased demand, propelling the market growth.

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Regional Outlook & Growth Analysis:

North America is dominating the market for maggot debridement followed by the Europe region. Rising health concerns, a surge in demand for advanced treatment, and the existence of a developed healthcare structure are some of the factors contributing to regional growth. In addition to this, the presence of several leading players is positively influencing the market growth. A high rate of road accidents, a large diabetic population, and favorable reimbursement policies in Asian countries are driving huge demand for the market of the Asia Pacific region. 

Market Participants:

Leading market participants are focusing more on research and development activities to bring new technologically advanced products to attract consumers and gain a competitive edge over others. Additionally, they are also taking key strategic moves such as partnerships and collaborations to expand their business. Some of the key players in the maggot debridement market are Arobella Medical, B. Braun Melsungen AG, Coloplast, DeRoyal Industries, Lohmann & Rauscher, BioMonde, Smith & Nephew, Advancis Medical, Molnlycke Healthcare, and RLS Global. Players in the market are focusing on mergers & acquisitions, collaborations, product extension, and geographical expansion. Also, the companies are making huge investments in research & development activities to develop new products and to compete with the other players.

Target Audience:

• Supply Side: Healthcare Companies
• Demand Side: Hospitals, Clinics, Research Laboratories, Academic Medical Centers
• Regulatory Side: World Health Organization (WHO)
• Associations and Industry Bodies: Food and Drug Associate (FDA)

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Polaris Market Research has segmented the maggot debridement market report based on administration type, application, end-use, and region

Maggot Debridement Administration Type Outlook (Revenue – USD Million, 2016 – 2027)

• Biobags
• Loose Larva

Maggot Debridement Application Outlook (Revenue – USD Million, 2016 – 2027)

• Acute Wounds
• Burn Wounds
• Surgical & Traumatic Wounds
• Chronic Wounds
• Pressure Ulcers
• Diabetic Foot Ulcers
• Venous Leg Ulcers
• Others

Maggot Debridement End Use Outlook (Revenue – USD Million, 2016 – 2027)

• Hospital
• Wound Care Centers
• Clinics
• Others

Maggot Debridement Regional Outlook (Revenue – USD Million, 2016 – 2027)

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• MEA (Saudi Arabia, UAE, Israel, South Africa)

List of Key Players of Maggot Debridement Market:

• Smith & Nephew
• Monarch Labs
• Coloplast
• Mega Pharma (Pvt) Ltd.
• BioMonde
• B. Braun Melsungen AG
• Mölnlycke Healthcare
• Lohmann & Rauscher
• Arobella Medical
• Advancis Medical

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SOURCE Polaris Market Research