Digital Wound Management Devices Market: New Innovative Solution to Measure the Wounds
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The global digital wound management devices market was valued at US$ 3.5 million in 2017 and is expected to witness a CAGR of 6.8% during the forecast period (2017 – 2025).
Increasing number of surgeries and rising geriatric population will drive the overall digital wound management devices market
Growing geriatric population with increasing volume of surgical procedures are major factors fueling the market growth. The continuous technological development and improvement in digital wound management devices also increased the rate of market penetration and demand for advanced wound management devices across the globe. The significant growth in the number of surgeries, especially in the European countries will help in the growth of the digital wound management devices market in this region. The rise in a number of the diabetic population around the globe is expected to create more opportunity for digital wound care market players in the near future. According to World Health Organization (WHO), in 2014, around 422 million people were living with diabetes around the globe. The market in Asia Pacific is expected to have a significant traction over the forecast period, mainly due to sizeable geriatric population and a large pool of diabetic population present in emerging countries such as India and China. However, lack of trained professionals and the high expense of latest technologies are some of the factors that may pose a challenge to the growth of the market.
Continuous product innovation and partnerships between wound assessment solutions manufacturers is a prominent factor to fuel the digital wound management devices market
Awareness initiatives and education programs will help the market players to gain competitive advantage. In 2016, North America holds the maximum share of digital wound management devices market due to technological advancements and the high use of digital wound management devices, is probably going to proceed with its predominance amid the conjecture time frame followed by Europe. Asia Pacific is also expected to grow at a substantial rate due to rise in per capita income and increased healthcare spending.
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Key vendors in the digital wound management devices market are introducing newer products to retain or increase their market share. For example, in 2017, eKare Inc. launched Google Tango-enabled app in the U.S. for wound care, which uses integrated 3D sensing and imaging capability. This app is based on Apple i-Pad, which delivers the high level of wound measurement accuracy than conventional wound measurement devices. Manufacturers can reap rich dividends by developing portable digital wound management devices with easy to use interface, making them more accessible to a larger audience. Innovation will keep on underpinning headways in the global digital wound management devices market in the coming decade.
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