April 17, 2024
Digital Wound Measurement Devices Market

The Digital Wound Measurement Devices Market Is Trending Through Remote Monitoring

Digital wound measurement devices helps in monitoring and recording wound images and measurements digitally for quicker treatment and improved healing outcomes. Using advanced technologies like photography, advanced software and apps, these devices help clinicians capture high-resolution images and accurately measure wounds and its progress remotely. This saves time and cost of frequent patient visits and allows remote monitoring of chronic and postoperative wounds from any location for better management.

The Global Digital Wound Measurement Devices Market Demand is estimated to be valued at US$ 86.99 Mn in 2024 and is expected to exhibit a CAGR of 3.3% over the forecast period of 2024 to 2031.

Key Takeaways

Key players operating in the Digital Wound Measurement Devices are Aegis Medicals, Refine Medical Technology, Delta Medical International, Micro Lab, M&B, Dräger, Xuzhou Kejian Hi-tech, Natus Medical. Digital wound measurement devices help clinicians to remotely monitor chronic wounds and aid early detection of complications. The demand for digital wound measurement devices has been increasing in home healthcare and long-term care centers due to the need for contactless monitoring of wounds amidst the COVID-19 pandemic. The manufacturers are also expanding their business globally with focus on markets in North America, Europe, Asia Pacific due to increasing prevalence of chronic wounds like diabetic foot ulcers and pressure ulcers.

Market key trends

The digital wound measurement devices market is witnessing a trend of remote monitoring driven by need of contactless care during COVID-19 pandemic. These devices help early detection of healing progress or complications through digital imaging and measurements sent to clinicians remotely. This saves costs and time of frequent visits while allowing chronic wound management from any location. The manufacturers are also focussing on software driven devices integrated with Electronic Medical Records and telemedicine for automated data collection and remote consultations. Accurately measuring wounds digitally also allows objective assessment of new treatment approaches and productivity of advanced wound care products.

Porter’s Analysis

Threat of new entrants: Medium – High level of specialization and customer loyalty to existing brands presents barriers.

Bargaining power of buyers: High – Large healthcare providers can leverage their size to negotiate lower prices from suppliers.

Bargaining power of suppliers: Medium – Suppliers of components specialized but not unique. Switching costs are low.

Threat of new substitutes: Low – No proven alternatives currently exist for digital wound measurement.

Competitive rivalry: High – Market fragmented with many small players. Price competition exists.

Geographical Regions

North America currently accounts for the largest share of the digital wound measurement devices market, in terms of value. This is attributed to factors such as the increasing aging population, growing prevalence of chronic wounds, and rapid adoption of advanced wound care devices & treatment options in the region.

Asia Pacific region is expected to witness the fastest growth over the forecast period, supported by rising healthcare spending, large patient population base, and growing awareness about advanced wound care solutions. China, India and other Southeast Asian countries are expected to drive high demand.

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