Global Digital Wound Measurement Devices Market: Development History, Current Analysis and Estimated Forecast to 2027
Global
Digital Wound Measurement Devices Market Research Report, by Wound Type
(Diabetic Ulcers, Incisional, Traumatic, Chronic), Product (Contact Wounds,
Non-Contact Wound Measuring Devices), End-User (Hospital and Clinics) – Global
Forecast Till 2027
Digital Wound Measurement Devices Market Highlights
The digital wound measurement devices market size
is increasing rapidly. The market is primarily driven by the increasing
prevalence of chronic wounds and diabetic wounds, which are severe, and often
the process of healing is very long, eventually leading to amputations. Hence,
growing diabetic patients, rising geriatric population, and an increasing number
of surgeries are some of the key factors accelerating the market.
According to the report
launched by Market Research Future (MRFR), the global digital wound measurement
devices market is booming and projected to witness significant growth by 2023, registering
a steady CAGR throughout the forecast period (2018-2023). Rising awareness for
the benefits of these devices and increasing investments by the public &
private sector boost market growth. Moreover, growth in the biotechnology
sectors drives the growth of the market exponentially.
Rising government support for
the research and development of medical technologies is a key driving force
escalating the market growth, increasing the efficacies of digital wound
measurement devices. Additionally, factors such as the proliferation of
smartphones, rapid adoption of advanced digital tools, and the advent of
telehealth for wound care are expected to substantiate the market growth.
On the other hand, the
complexity of these devices, due to which they can’t provide additional
information on wounds such as moistness or exudation, restricts the growth of
the market. The high costs of digital devices, alongside the poor reimbursement
policies for the medical devices, are estimated to act as significant headwinds
for the market growth. Nevertheless, the growing demand for quality wound care
would support market growth.
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Digital
Wound Measurement Devices Market -
Segments
MRFR has segmented the report
into four main dynamics to widen the scope of understanding,
By Wound Type : Diabetic Ulcers, Incisional,
Traumatic, Chronic, and others.
By Product : Contact Wounds and
Non-Contact Wound Measuring Devices
By End-user : Hospital, Clinics, Ambulatory
Surgical Centers, and others.
By Regions : Americas, Europe,
Asia-Pacific, Middle East & Africa, and Rest-of-the-World
Digital
Wound Measurement Devices Market -
Regional analysis
North America leads the global
digital wound measurement devices market with the largest market share. The
market growth attributes to the rising prevalence of chronic wounds and
technological advancements in the healthcare sector. Besides, factors such as
favorable reimbursement scenarios and substantial healthcare expenditure,
support market growth. The rising government support for R&D provides
impetus to market growth.
The US, with the wide uptake of
new technologies, accounts for the leading market in the region. The digital
wound measurement devices market in North America is estimated to accrue
exponentially by 2023, posting a modest CAGR over the forecast period (2018 to
2023).
Europe is expected to emerge as
the second-largest market for digital wound measurement devices. Increasing
technological advancement and research for wound care along with government
support, drive the European digital wound measurement devices market.
Similarly, the growing economy in the region acts as a significant driving
force for the market growth. Furthermore, the availability of funds for R&D
activities alongside the well-proliferated healthcare sector impacts market
growth positively. With the increasing awareness about the availability of these
drives, this market is estimated to register phenomenal growth records.
The digital wound measurement
devices market in the Asia Pacific devices is emerging as a profitable space
globally. The market growth is expected to be led by China and India due to the
vast patient population and the availability of low-cost treatment procedures
in these countries. Additionally, growing diabetic patient pool, high
incidences of chronic wounds, and developing healthcare infrastructure provides
favorable backgrounds for the regional market growth.
Moreover, the rapidly growing
healthcare sector and the large unmet needs will foster market growth over the
forecast period. Besides, the increasing penetration of healthcare insurance is
expected to drive the digital wound measurement devices market in the Asia
Pacific region.
Digital
Wound Measurement Devices Market -
Competitive Analysis
Fiercely competitive, the
global digital wound measurement devices appear to be well-established with the
presence of many notable players. They incorporate strategies such as mergers
& acquisitions, collaboration, expansion, and product/technology launch.
Substantial investments are transpired in the development and clinical trials
of these instruments. The market attracts many entrants, demonstrating high
growth potential, which intensifies the competition further. Matured players
emphasize on expanding their network through product distribution in developing
economies.
Major
Players:
Players leading the digital
wound measurement devices market include Parable Health, WoundRight
Technologies Tissue Analytics, ARANZ Medical Limited, KCI, eKare, Inc, an
Acelity Company, WoundZoom Inc., WoundMatrix, Inc., Kent Imaging Inc.,
WoundVision, LLC, WoundRight Technologies, LLC, Smith & Nephew plc. and
Hitachi Healthcare Americas, among others.
Industry/Innovation/
Related News:
July 02, 2019 ---- Smith &
Nephew plc. (The UK), a multinational medical equipment manufacturing company,
announced the completion of Atracsys Sarl (Switzerland), a producer of optical
tracking technologies to support its digital surgery system. Atracsys Sarl’s
optical tracking technology is intended for use in computer-assisted surgery,
which will be leveraged by Smith & Nephew for its multi-asset digital
surgery & robotics ecosystem.
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