According to a new report published by Allied Market Research, titled, "Digital Wound Measurement Devices Market by Product, Wound Type, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global digital wound measurement devices market was valued at $11,131.36 thousand in 2016, and is estimated to reach $15,066.86 thousand by 2023, growing at a CAGR of 4.4% from 2017 to 2023.
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Digital wound measurement devices are used for accurate wound measurement and provide three-dimensional measurement of a wound with electronic medical record (EMR) software integration. The major factors that contribute to the market growth include the changing lifestyles that lead to high incidence of diabetic wounds and pressure ulcers, and increase in geriatric population. Moreover, the advantages of digital wound measurement methods, which include additional information about the depth and volume of wound, further boost the market growth. However, the limitations of the digital wound measurements devices are expected to impede the market growth. In addition, significant unmet need in wound measurement device provides a lucrative opportunity for market growth.
Non-contact wound measurement devices generated the maximum revenue, accounting for around three-fifths share of the global digital wound measurement devices market in 2016. This segment is expected to witness the highest CAGR of 4.8% during the forecast period, owing to their ability to provide detailed images of wounds for documentation. Chronic wounds are expected to dominate the market, accounting for wo-thirds share in 2016. Based on end user, the hospitals segment is expected to dominate the market in the future, owing to increase in incidence of people suffering from chronic conditions such as diabetes. On the other hand, the community centers segment is estimated to register a CAGR of 5.0%.
Key Findings of the Digital Wound Measurement Devices Market:
- The contact wound measurement devices segment contributed for nearly two-fifths share of the global digital wound measurement devices market in 2016.
- The chronic wounds segment is projected to grow at a significant CAGR of 4.0% from 2017 to 2023.
- Germany and France are the major shareholders, which collectively accounted for more than one-third share of the European digital wound measurement devices market in 2016.
- Japan is the major shareholder, accounting for more than one-third share of the Asia-Pacific digital wound measurement devices market in 2016.
The Asia-Pacific market is projected to grow at the highest CAGR of 6.3% during the forecast period, owing to rise in awareness about the benefits of digital wound measurement devices in the healthcare industry and surge in expenditures in emerging markets (such as India and China) to cater to the unmet medical needs.
The major companies profiled in the report are Tissue Analytics, ARANZ Medical Limited, eKare, Inc., WoundMatrix, Inc., WoundZoom Inc., Kent Imaging Inc., WoundRight Technologies, LLC, WoundVision, LLC, Hitachi Healthcare Americas, and Smith & Nephew plc.