Digital Wound Management Devices Market to Remain the Fastest Growing market Near Future

Digital wound management device is considered as a 3D-enabled device, which helps to measure the wound dimensions such as width, length, area, and depth. Additionally, it yields a noticeable record of the measurement. These devices are used to compute the change in the area of wounds amid the way towards mending and primarily convert line tracing into area measurement. Wound assessment and monitoring systems are basically devices or digital aids that enable imaging, documentation, and measurement of the wound by offering a 3D evaluation with the integration of Electronic Medical Record (EMR) software. Various incapacitating infections are associated with the inadequate wound care and, furthermore, emphasize on the cost load to the patient. The emergence of smartphones, development of advanced digital tools, and advent of telehealth for wound care and management have turned the way how wound infected patients are being treated and the way hospitals perform their daily activities. The ultimate objective of digital wound management devices is to decrease doctor's facility, re-affirmation, and to achieve a positive clinical result. Inconsistent wound care results have influenced industry players to provide clinical evidence and improve care coordination by utilizing digital tools for operational decision making and function.

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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).

Market Dynamics

The market is gaining significant traction due to increasing number of surgeries and growing elderly population. According to United Nations, in 2015, around 901 million people were over 60 years of age and number is expected to reach 1.4 billion by 2030 and to 2.1 billion by 2050. Moreover, the rise in number of diabetic population across the globe is expected to create more opportunity for digital wound management devices 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. Furthermore, Continuous product innovation and partnerships between wound assessment solution manufacturers is a prominent factor to fuel the digital wound management devices market.

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.

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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.

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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