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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Developed 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 the wound appears to be a rational approach to treatment selection and monitoring. However, it is not yet standardized or validated and the cost associated with the treatment is high. As an alternative, wound morphometric analysis, which refers to using digital wound images may be an effective means of evaluating how the wound responds to the treatment. This allows for a dynamic approach, where wound treatments can be evaluated and subsequently changed if the wound-healing response is negligible. A technology shift has been observed in the global healthcare sector, with manufacturers focusing on highly accurate monitoring operational devices that can ease the device development work and improve efficiency at the same time. For instance, the collaboration of Fuel3D with FittingBox, which is world leader in virtual try-on solutions for eyewear, will develop 3D scanning enhancement for the OWIZ system developed by Fuel3D.
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Key takeaways of the Ambulatory Blood Pressure Monitors Market:
- The global digital wound management devices market is expected to expand at a CAGR of 6.8% during the forecast period (2017–2025) as there exists a huge demanding market especially in Asia Pacific, Latin America, the Middle East, and Africa.
- The diabetic ulcer digital wound management devices dominates the market in the product segment, as it is easily usable and largely available, and it promote a moist wound healing environment.
- Hospitals and Ambulatory Surgical Centers are the major end-users of digital wound management devices market owing to easy accessibility of these devices.
- Some of the major players involved in global digital wound management devices market are WoundMatrix, Aranz Medical Ltd., Woundzoom Inc., Woundvision, LLC., Tissue Analytics, Inc., Parable Health, Inc., and Rubitection, Inc.
About Coherent Market Insights:
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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