by Digital wound measurement devices are gaining popularity due to their ability to capture images and videos of wounds in precise sizes and dimensions. These devices allow clinicians to non-invasively and accurately measure wound dimensions such as length, width, depth, and area to assess healing progress over time. Key product features include integrated cameras, rulers or calipers for precise measurements, software for recording and comparing images, and wireless connectivity for sharing data across devices and platforms. The use of digital measurements helps standardize wound assessments, optimize treatments, and improve patient outcomes.
The global Digital Wound Measurement Devices Market 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 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Advancements in technologies used for wound imaging and measurement are driving growth of the digital wound measurement devices market. Major players are focusing on developing more precise and user-friendly devices integrated with AI and machine learning capabilities. For instance, in 2022, Aegis Medicals launched its new Veve Smart Wound Measurement Device with features like automated wound segmentation and analysis, cloud connectivity, and predictive wound healing capabilities. Such innovative products are increasing adoption among healthcare providers and improving management of chronic and acute wounds.
Porter’s Analysis
Threat of new entrants: The threat is low due to high capital requirements for production facilities and R&D to launch new digital wound measurement devices. The market also has stringent regulations imposed by FDA and other authorities.
Bargaining power of buyers: The bargaining power of buyers is high. There are many established players offering similar digital wound measurement devices giving buyers alternatives to choose from.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material suppliers have limited influence over pricing due to availability of substitute materials.
Threat of new substitutes: The threat is moderate as traditional manual methods can be used as substitutes though digital methods are more preferred due to convenience and accuracy.
Competitive rivalry: The competition in the market is high among leading established players.
Key Takeaways
The Global Digital Wound Measurement Devices Market Size is expected to witness high growth over the forecast period. The global Digital Wound Measurement Devices Market 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 2024 to 2031.
North America region is expected to dominate the market owing to increasing demand for advanced wound care devices. The availability of reimbursement policies and significant healthcare spending are boosting the regional market. Europe is also expected to witness significant growth during the forecast period. The presence of major players and developed healthcare infrastructure are supporting the growth of digital wound measurement devices market in the region.
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. These established players are focusing on new product launches and geographical expansion to consolidate their market presence.
