Global Digital Wound Management Devices Market, by Wound Type (Diabetic ulcer, Chronic wounds, Burns, Incisional, Traumatic wounds), End-User (Hospitals, Clinics, Ambulatory Surgical Centers), and Geography - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025

Digital Wound Management Devices Market: New Innovative Solution to Measure the Wounds

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.

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).

Figure 1. Global Digital Wound Management Devices Market Share, By Product Type (%)

digital wound management devices market

Source: Coherent Market Insights Analysis (2017)

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.

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.

Research Methodology

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  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
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  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
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  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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