Wound Healing Assessment Market is expected to reach US$ 153.8 Mn by 2031
NEW YORK, Jan. 27, 2022 /PRNewswire/ -- In a recent study by Persistence Market Research on the global wound healing assessment market, it was found that the market is expected to reach US$ 153.8 Mn by 2031, witnessing a CAGR of around 5.2% over the forecast period (2021-2031).
Adequate monitoring of wounds is crucial for guiding treatment decisions, especially for chronic wounds that may not follow the classical sequence of healing events. Non-invasive wound assessment devices are designed to overcome the drawbacks of traditional methods, which are mostly rough, inaccurate, and painful for patients.
These devices estimate the morphological parameters of the wound and provide augmented reality visual feedback on the healing status by projecting the wound border acquired during the last examination, thus improving doctor-patient communication.
Wound assessment devices have proven to be objective and non-operator-dependent tools for assessing the morphological parameters of wounds, and this is one of the major factors driving demand in the market.
Healthcare providers are increasingly using technology in personal and professional contexts, and a logical extension is to use technology for knowledge translation strategies. App-based solutions are all focused on assessing and documenting wounds. The benefits of app-based solutions include the potential to enhance wound healing through evidence-based practices, consistency in primary to community care, and subsequent quality of life for patients.
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Furthermore, these apps can also enhance the ability of healthcare providers to deliver better wound care, enhance knowledge transfer among healthcare professionals, and can potentially result in cost savings for the healthcare sector.
- For instance, in October 2019, WoundVision launched a mobile app for wound imaging, measurement, and assessment. The app standardizes wound photography, measurement, and assessment across the entire healthcare continuum.
- In February 2021, Net Health launched Data Solutions for Wound Care, the nation's largest wound treatment database.
Key Takeaways from Market Study
- Digital wound measurement devices are network-compatible smart devices, and are able to calculate changes in the area of wounds over the course of healing, which leads to account for a high market share of around 49.1%.
- The chronic wounds segment, by indication, accounted for the largest market share of around 60.9% in 2021.
- Fluorescent imaging accounted for the largest share of around 44% by technology in 2021.
- Hospitals accounted for the highest marker share 42.3% in 2021.
- North America held the largest share of over 42% of the global wound healing assessment market in 2021.
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"Global wound healing assessment market expected to witness significant growth due to advancements in AI-based wound healing technologies as a better tool for diagnosis in the wound care space," says a Persistence Market Research analyst.
Who is Winning in This Space?
Some of the leading manufacturers of wound healing assessment devices such as WoundMatrix and Spectral MD, amongst others, are focusing on collaborations and partnerships to provide data solutions to a large group of consumers in order to increase revenue from different geographies.
- In June, 2021 WoundMatrix partnered with Insight UK, a leading provider of technology solutions, to host its WoundMatrix Mobile Wound Management software in the U.K.
- In July, 2020, Spectral MD and ACC collaborated to provide scientific insights of the clinical value of Spectral MD's DeepView technology to find and assess critical limb ischemia.
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Want more Insights?
Persistence Market Research offers a unique perspective and actionable insights on the wound healing assessment market in its latest study, presenting historical demand assessment of 2016 – 2020 and projections for 2021 – 2031.
The research study is based on product- (digital wound measurement devices (2D measurement devices and 3D measurement devices), tissue oximetry assessment devices, and software (web-based solution and app-bases solution)), based on indication- (chronic wound (venous leg ulcers, diabetic foot ulcers, and pressure ulcers) and acute wound (surgical wounds, traumatic wounds, burn cases)), based on technology- (near-infrared spectroscopy, fluorescence imaging, long-wave infrared technology (LWIT), and hyperspectral imaging), based on end user – (hospitals, ambulatory surgical centers, specialty wound care clinics, and homecare), and across five major regions.
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