February 24, 2024
Digital Wound Measurement Devices Market

Rapid Technological Advancements In Wound Care Devices To Drive The Growth Of Digital Wound Measurement Devices Market

Digital wound measurement devices are used to precisely assess, document and track the healing process of various types of wounds. These devices help in detailed imaging and mapping of wound dimensions along with depth and volume measurements for accurate evaluation and comparison over time. They reduce dependence on manual measurements and subjective assessment while ensuring consistency and reliability of wound data. Digital wound measurement allows remote monitoring and evaluation, thereby reducing time spent on follow-ups.

The global digital wound measurement devices market size is estimated to be valued at US$ 75.51 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the major trends in the market is the growing popularity of integrated wound measurement systems. These integrated systems combine advanced imaging technology, measurements and documentation software into a single platform for streamlined wound evaluation and management. They offer superior accuracy, reproducibility and consistency compared to conventional manual measurements. Systems with integrated cameras, illuminators and software for 3D and fluid analysis are gaining traction among healthcare providers. Additionally, development of smartphone-based measurement applications is anticipated to further drive the market. These apps allow wound care teams to easily capture and share images and documentation digitally for remote consultations and monitoring.

Porter’s Analysis
Threat of new entrants: Low capital requirement and established supply chains lower the threat of new entrants in this market. However, presence of key players with strong brand recognition and dominance poses entry barriers.

Bargaining power of buyers: Large healthcare facilities and institutions have significant bargaining power due to the high volume of procurement. However, small buyers have limited bargaining power.

Bargaining power of suppliers: Few medtech companies manufacturing these devices globally indicates significant supplier power. Suppliers differentiation through proprietary designs maintains their bargaining ability.

Threat of new substitutes: Though several alternatives for wound management are available, lack of substitutes matching accuracy and usability of digital tools limits threat of substitution.

Competitive rivalry: Significant competition exists among key global players differentiated through product innovations, pricing, and branding. Regional players intensify competition.

Key Takeaways
The global Digital Wound Measurement Devices Market is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing prevalence of chronic wounds globally.

Regional analysis: North America dominates the market owing to rapid adoption of digital health solutions and advanced wound care practices. Asia Pacific exhibits highest growth potential driven by rising healthcare expenditure, growing medical tourism, and infectious wound management initiatives in China and India.

Key players operating in the Digital Wound Measurement Devices Market are Smith & Nephew plc, Aranz Medical Limited, eKare Inc., and WoundMatrix Inc. Smith & Nephew leads the market with proprietary technologies in wound imaging and analysis. Aranz Medical launched innovative smartphone-based solutions expanding access in remote areas.

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