The Global Digital Wound Management Devices Market was valued at US$ 3.3 million in 2016 and is projected to expand at a CAGR of 6.8% during the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Technological advancements by key players, increasing healthcare expenditure by governments, and rising prevalence of diabetic population attributed to having a meteoric growth of the digital wound management devices market over the forecast period.
Rise in ulcer cases and chronic wound cases provide a lucrative growth of the global digital wound management devices market. Any wound that does not heal in the span of 6 weeks is considered as a chronic wound. The increase in chronic wound cases globally, expected to fuel the growth of digital wound management devices market. In 2015, According to Healogics Inc., around 6.7 million people in the U.S. were suffering from non-healing advanced wounds and this number is expected to grow at more than 2% over the following decade. Furthermore, every year around 2.5 million people aged over 75 years acquires a pressure ulcer, which is approximately 13.2% of the total population in 2015. Thereby, contributing to growth of global digital wound management devices that are extremely useful to decrease doctor's facility re-affirmation and achieve a positive clinical result.
The rise in number of diabetic population and aging population are the supportive factors propelling the growth of chronic wound cases around the globe. According to the Centers for Disease Control and Prevention (CDC), in 2014, around 29.1 million people in U.S. were suffering from diabetes, which contributed to around 9.3% of the total population. Furthermore, the diabetes mellitus contributes to 90-95% cases of the total diabetic population. The key developments in the digital wound management devices enable real-time bacterial imaging in wounds at the point-of-care for efficient wound assessment and monitoring.
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Emerging economies such as the U.S., Japan, and Australia are characterized by high capital investment on introducing advanced technologies, especially in the healthcare sector. Biochemical assessment of wound is considered as a rational approach for the selection of treatment and monitoring. However, this is not yet standardized and the treatment cost is high. Wound morphometric analysis, which refers to the use of digital wound images could be an alternative and an effective means for the evaluation of response of wound to the treatment. This gives chance for a dynamic approach, where wound treatments can be evaluated and subsequently changed if the wound-healing response is negligible. As manufacturers are focusing on highly accurate monitoring operational devices, a technology shift is observed in the global healthcare sector. These monitoring operational devices will aid in making the device development work easier and improve efficiency at the same time. For instance, Fuel3D collaborated with FittingBox, world’s leader in virtual try-on solutions for eyewear, to develop 3D scanning enhancement for the OWIZ system that was developed by Fuel3D.
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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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