Sacramento, CA, March 14, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Spotlight Growth has published new content on Marizyme, Inc. (“Marizyme” or the “Company”) (OTC Pink: MRZM), a biotechnology company focused on its clinically-tested and patented use of protease therapeutic platform called Krillase. Clinical testing and research have shown Krillase to be a treatment for acute ischemic stroke, myocardial infarction, deep-vein thrombosis, wound/burn care, and more. Krillase is classified as a Class III medical device in Europe for the treatment of chronic wounds.
The comprehensive report provides an overview of Marizyme, the Krillase platform, latest news, and management’s plans to continue growing the company.
ResearchAndMarkets: Global Wound Care Market Estimated Worth $42.07 Billion By 2024
The global population continues to age, as fewer people continue to have children. According to the World Bank, the global population aged 65 or older has grown from 4.97% in 1960 to an estimated 8.70% in 2017. Aside from the aging population, global society suffers from poor diet and increasingly sedentary lifestyles. This has led to a worldwide increase in diseases such as diabetes and obesity. These factors present a number of challenges for society, particularly healthcare services and technology to meet growing demand for care.
Wound care is another key market that will be in focus due to aging populations and diseases facing the globe today. Chronic wound care is already a multi-billion-dollar market and is forecast to see continue growth.
According to ResearchAndMarkets.com, the global wound care market is estimated to grow to $42.07 billion by 2024, which represents a CAGR of 6.20% between 2018 and 2024. The market research firm notes that an increasingly aged population, growth in surgeries, and even increasing road accidents as major sources of growth for the wound care market. ResearchAndMarkets.com sees the United States as being one of the main drivers of growth, but the market researchers also see strength from other parts of the world.
Global Market Insights, Inc. estimates the global advanced wound care market to reach $13 billion by 2024, which represents a CAGR of 5.40%. The market research analysts estimate that North America will continue to dominate the market through 2024. With that said, other international markets are estimated to see faster growth over the same time period.
According to the report, “Rising incidences chronic diseases and consequent rise in number of patients with acute and chronic wounds will escalate the market growth over forecast timeframe. Favorable demographic trends such as increasing geriatric population and lifestyle changes such as adoption of sedentary lifestyle will further support rise in prevalence of chronic diseases. This is expected to escalate the prevalence of wounds and associated cost burden thereby augmenting demand for wound care products.”
MRZM: Initial Krillase Application To Focus On Wound Care and Thrombosis Markets
Marizyme, Inc.’s Krillase main active ingredient can only be derived from Antarctic krill. The mix of proteinases and peptidases helps the Antarctic krill digest and break down its food in the extremely cold environment. As a result, the specialized enzymes provide a “cutting” capability. Krillase has already been classified as a Class III medical device in Europe for the treatment of chronic wounds.
Currently, Marizyme has a product pipeline that seeks to focus on developing products that treat the most expensive conditions across the acute care market. Here is a breakdown of the breakdown of the current pipeline and where it stands in the clinical stages:
· MB101 – Therapy for Complex Infected Wounds & Burns: Completed Phase 1 trials
· MB102 – Therapy for Acute Ischemic Stroke: Nearing end of pre-clinical stage
· MB103 – Therapy for Ischemic Myocardial Infarcs: Halfway through pre-clinical stage
· MB104 – Therapy for Deep Vein Thrombosis: Early pre-clinical stage
While these represent the first four focuses that Marizyme will turn to, the company also plans to obtain additional funds over the next five years to conduct necessary research, development, and clinical testing on the Krillase platform to be a potential treatment in the following markets:
-HIV/AIDS treatment: $20.45 billion market
-Herpes treatment: $1.8 billion market
-Oral mucositis treatment: $1 billion market
-Plaque removal: $500 million market
-Canker sore treatment: $400 million market
-Gingivitis treatment: $290.50 million market
For more information on Marizyme, please visit: http://marizyme.com and http://spotlightgrowth.com/index.php/2019/03/12/spotlight-growth-report-marizyme-inc-otc-pink-mrzm/
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