February 28, 2024

The Global Digital Wound Measurement Devices Market Driven By Growing Prevalence Of Chronic Wounds

Digital wound measurement devices help in obtaining precise and accurate measurements of surface area, depth and volume of acute and chronic wounds. These devices provide visual documentation of healing progression and have in-built software for database management, reporting and charting. They are highly useful for clinicians in wound assessment, post-surgical monitoring and documentation of wounds over time. The growing prevalence of diabetes and associated chronic wounds has increased the demand for such devices across healthcare settings for effective wound management.

The global Digital Wound Measurement Devices Market is estimated to be valued at Us$ 75.51 Mn In 2023 and is expected to exhibit a CAGR Of 3.3% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends witnessed in the global digital wound measurement devices market is technological advancements with 3D imaging capabilities. Major players are focusing on developing smart wound measurement applications integrated with 3D cameras and augmented reality capabilities. For instance, WoundMatrix developed by ARANZ Medical offers advanced 3D wound imaging that provides 360-degree scans and precise measurements of wound dimensions, volume, surface area and undermining/tunneling. Such devices deliver high-resolution 3D models and texture mapping of wounds to specialists for remote consultation. Growing focus on telemedicine and digital wound care management during the pandemic has further fueled demand for these technologically advanced offerings.

 

Porter’s Analysis

Threat of new entrants: Low, as this is a specialized market that requires significant capital investments and regulatory clearances.

Bargaining power of buyers: Moderate, as few large hospitals control major market share. However, growing need for advanced wound management solutions increases buyer options.

Bargaining power of suppliers: Low to moderate, as key components can be sourced from different suppliers, limiting their influence.

Threat of new substitutes: Low, as alternative wound measurement methods lack accuracy and don’t provide real-time data integration needed for advanced wound management.

Competitive rivalry: High, as the market has few major players competing on product features, accuracy, and price. Key differentiators include platform compatibility and data analytics capabilities.

Key Takeaways

The Global Digital Wound Measurement Devices Market Demand is expected to witness high growth over the forecast period of 2023 to 2030.

 

Regional analysis:

 

North America is currently the largest market for digital wound measurement devices globally. The U.S. holds majority of the market share owing to its advanced healthcare infrastructure and availability of favorable reimbursement policies for innovative wound care therapies. Asia Pacific is expected to be the fastest growing regional market attributed to rising healthcare spending, growing incidence of chronic wounds, and increasing focus on development of digital health technologies.

 

Key players:

 

Key players operating in the digital wound measurement devices market are Aegis Medicals, Refine Medical Technology, Delta Medical International, Micro Lab, M&B, Dräger, Xuzhou Kejian Hi-tech, Natus Medical. Companies are focusing on new product launches and expansion in emerging markets through collaborations to consolidate their market presence.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it