Digital Wound Management Devices Market Revenue Growth Predicted by 2017-2025
The wound is characterized as an obstruction in the structure of the skin which may spread to intramural layers lying far beneath the skin. It can vary from simple scratch to complex tissue injury. On the basis of application, digital wound management device provides sufficient care to the affected region. It makes the use of optical instruments such as structured lighting or stereophotogrammetry to get the wound images which can be further rendered by a computer to obtain a 3D image and for the monitoring of the wound care to get the clinical outcomes. Continuous technologically advancements for better product innovation are practiced by the manufacturers to retain the market share every year.
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The Digital Wound Management Devices market is expected to gain steady traction in the foreseeable future, as the portable devices find application across a wide number of hospitals with the easy handling mechanism and provide clinical and economic benefits to patients and healthcare providers. Manufacturers can reap rich dividends by developing portable digital wound management devices with easy to use interface, making them more accessible to a larger audience.
The market is gaining significant traction due to increasing number of surgeries and growing elderly population. According to United Nations, in 2015, around 901 million people were over 60 years of age and number is expected to reach 1.4 billion by 2030 and to 2.1 billion by 2050. Moreover, the rise in number of diabetic population across the globe is expected to create more opportunity for digital wound management devices market players in the near future. According to World Health Organization (WHO), in 2014, around 422 million people were living with diabetes around the globe. Furthermore, Continuous product innovation and partnerships between wound assessment solution manufacturers is a prominent factor to fuel the digital wound management devices market.
Increasing number of surgeries and rising geriatric population will drive the overall digital wound management devices market
Growing geriatric population with increasing volume of surgical procedures are major factors fueling the market growth. The continuous technological development and improvement in digital wound management devices also increased the rate of market penetration and demand for advanced wound management devices across the globe. The significant growth in the number of surgeries, especially in the European countries will help in the growth of the digital wound management devices market in this region. The rise in a number of the diabetic population around the globe is expected to create more opportunity for digital wound care market players in the near future. According to World Health Organization (WHO), in 2014, around 422 million people were living with diabetes around the globe. The market in Asia Pacific is expected to have a significant traction over the forecast period, mainly due to sizeable geriatric population and a large pool of diabetic population present in emerging countries such as India and China. However, lack of trained professionals and the high expense of latest technologies are some of the factors that may pose a challenge to the growth of the market.
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Continuous product innovation and partnerships between wound assessment solutions manufacturers is a prominent factor to fuel the digital wound management devices market
Awareness initiatives and education programs will help the market players to gain competitive advantage. In 2016, North America holds the maximum share of digital wound management devices market due to technological advancements and the high use of digital wound management devices, is probably going to proceed with its predominance amid the conjecture time frame followed by Europe. Asia Pacific is also expected to grow at a substantial rate due to rise in per capita income and increased healthcare spending.
Key vendors in the digital wound management devices market are introducing newer products to retain or increase their market share. For example, in 2017, eKare Inc. launched Google Tango-enabled app in the U.S. for wound care, which uses integrated 3D sensing and imaging capability. This app is based on Apple i-Pad, which delivers the high level of wound measurement accuracy than conventional wound measurement devices. Manufacturers can reap rich dividends by developing portable digital wound management devices with easy to use interface, making them more accessible to a larger audience. Innovation will keep on underpinning headways in the global digital wound management devices market in the coming decade.
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