Digital Wound Measurement Devices Market is expected to register a growth at 4.5% value CAGR from 2020-2030
Wound care measurement has been acquiring immense significance in recent years. Growing incidences of traumatic injuries due to accidents and prevalence of chronic diseases such as diabetes mellitus are primary growth stimulants. Healthcare industries worldwide are adopting technologically enhanced wound management systems to provide quality care solutions to patients. As a result, Digital Wound Measurement Devices Market is gaining steady ground.
Biosensors are being extensively incorporated as they are highly effective in providing critical data regarding bacterial colonization, oxygen, glucose and pH levels at the wound site, enabling doctors to diagnose and treat wounds accordingly. Several universities and institutions are augmenting their research capabilities to conduct further studies on biosensor-enabled devices.
Digital Wound Measurement Devices Market- Key Takeaways
- A CAGR of 4.5% is projected for the forecast period ranging from 2020-2030
- Rising smartphone and IoT device ownership is deepening telehealth penetration, providing traction to the market
- Diabetic ulcers to account for the lion’s share owing to increasing prevalence of diabetes mellitus
- North America to lay suzerainty over the global market, capturing over 40% market share
- New product launches and collaborations constitute primary market expansion strategies of prominent vendors
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COVID-19 Impact Analysis
The wound care market has been impacted by the coronavirus pandemic, and is anticipated to experience a moderate slowdown in growth through 2021, attributed to a decline in surgical procedures. However, the chronic wound patient pool will continue requiring treatment, ushering in a consistent revenue stream for chronic wound devices.
Practitioners are exploring opportunities to incorporate digital wound measurement devices to treat COVID-19 patients, primarily to provide relief from lung inflammation by checking and curtailing the secretion of interleukin-6, a pro-inflammatory cytokine.
Demand for homecare wound measurement devices has spiked, attributed to increase in home visit frequencies across countries for patients suffering from chronic conditions. All these factors are expected to have a considerable influence on the market’s growth trajectory in the short-term forecast period.
“Prominent vendors are looking to capture emerging markets across East & South Asia due to the presence of a large diabetic population base, opening up lucrative revenue generation opportunities during the forecast period,” says the FMI analyst.
Digital Wound Measurement Devices Market- Competitive Landscape
Prominent players within the digital wound measurement devices landscape include Perceptive Solutions Inc., ARANZ Medical, Smith & Nephew plc, WoundVision Inc., WoundMatrix Inc., KCI, Parable Health, Hitachi Healthcare Americas, 3M Company and WoundRight Technologies.
In 2017, WoundMatrix Inc., inked a decade long partnership with the Kent Community Health NHS Foundation Trust (KCHFT) to provide telemedicine and wound care programs aimed at improving healthcare services across the United Kingdom, including wound care and management.
In 2019, 3M successfully acquired Acelity Inc. with the objective of expanding its presence in the advanced and surgical wound care segment.
In June 2020, Perceptive Solutions, Inc. unveiled its new WoundZoom Wound Centric EMR System and 3D wound-imaging software solution. This software is an integrated wound management solution, comprising a wound-centric EMR system, 3D-imaging hardware and remote patient monitoring.
In July 2020, ARANZ Medical released the Silhouette version 4.9 which includes an improved range of data analysis features, such as a percentage area reduction figure, enabling clinicians to determine the effectiveness of wound healing.
More Insights on the Digital Wound Management Devices Market
A recent market study published by FMI on the digital wound measurement devices market includes the global industry analysis of 2015-2019 & opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. The report is segmented on the basis of wound type (diabetic ulcers, chronic wounds, burns, incisional and traumatic), end-user (hospitals & clinics) and region (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).
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