The global wound care monitoring market is expanding due to a variety of factors, including the increasing prevalence of chronic wounds. Chronic wounds are non-healing wounds that persist for an extended period and require ongoing medical care and management. According to healthcare data, chronic wounds account for a significant portion of healthcare costs and can lead to severe complications if not properly managed. The rising prevalence of chronic wounds is driven by several factors, including an aging population, increasing rates of diabetes, obesity, and lifestyle-related conditions, as well as environmental factors. Wound care monitoring technologies allow healthcare providers to manage chronic wounds more efficiently and effectively, offering regular tracking of wound healing progress and better treatment outcomes for patients without the need for constant direct contact with the healthcare team.
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Data Bridge Market Research analyzes that the Global Wound Care Monitoring Market is expected to reach USD 8.92 billion by 2031 from USD 6.01 billion in 2023, growing with CAGR of 5.1%.
Key Findings of the Study
Strategic Initiation and Decision Taken by the Market Players
The wound care monitoring market, significant strategic initiatives by major players such as mergers, acquisitions, collaborations, and expansions are substantially contributing to market growth and increasing market share. For instance, companies are actively pursuing mergers and acquisitions to consolidate their position, integrate innovative technologies, and expand their product portfolios. Notable collaborations between technology firms and healthcare providers are driving advancements in wound care monitoring, enhancing the development of sophisticated devices and solutions that improve patient outcomes. In addition, the expansion of market leaders into new geographical regions and the diversification of their product lines are fueling market growth by increasing accessibility and addressing diverse patient needs. These strategic moves not only strengthen the competitive positioning of major players but also accelerate the adoption of advanced wound care monitoring technologies across various healthcare settings.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024-2031
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Base Year
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2023
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Historic Year
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2022 (Customizable to 2016–2021)
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Quantitative Units
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Revenue in USD Billion
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Segments Covered
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Product (Devices and Wound Assessment Apps), Modality (Wearable and Non-Wearable), Product Type (Contact Wound Measuring Devices and Non-Contact Wound Measuring Devices), Wound Type (Chronic Wounds and Acute Wounds), Application (Wound Healing Monitoring, Wound Assessment, Infection Detection, and Treatment Monitoring), End User (Hospitals, Clinics, Home Healthcare, Long-Term Care Facilities, Trauma Centers, and Others), Distribution Channel (Direct Tenders and Retail Sales)
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Countries Covered
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U.S., Canada, and Mexico, Germany, France, U.K., Italy, Spain, Netherlands, Switzerland, Russia, Belgium, Turkey, Rest of Europe, China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Singapore, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Colombia, Chile, Peru, Venezuela, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa
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Market Players Covered
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Smith+Nephew (U.K.), Medline Industries, LP (U.S.), Mölnlycke Health Care AB (Sweden), Convatec Group PLC (U.K.), 3M (U.S.), The MolecuLight (Canada), Spectral AI, Inc. (U.S.), Swift Medical Inc. (U.S.), eKARE, Inc. (U.S.), WoundVision (U.S.), imito AG, digitalMedLab Ltd. (Switzerland), WoundMatrix Mobile Wound Management (U.S.), Advanced Oxygen Therapy Inc. (U.S.), imito AG (Switzerland), TISSUE ANALYTICS (U.S.), and ThermoTek (U.S.) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis
Global wound care monitoring market is categorized into seven notable segments based on product, modality, product type, wound type, application, end user, and distribution channel.
- On the basis of product, the global wound care monitoring market is segmented into devices and wound assessment apps
In 2024, the devices segment is expected to dominate the global wound care monitoring market
In 2024, the devices segment is expected to dominate the market with a market share of 72.98% due to the increasing adoption of advanced wound monitoring technologies, such as smart bandages and sensor systems, which offer enhanced accuracy and real-time data for effective wound management.
- Based on modality, the global wound care monitoring market is segmented into wearable and non-wearable
In 2024, the wearable segment is expected to dominate the global wound care monitoring market
In 2024, the wearable segment is expected to dominate the market with a market share of 55.09% due to its convenience and continuous monitoring capabilities, allowing for real-time data collection and proactive management of wound healing.
- Based on product type, the global wound care monitoring market is segmented into contact wound measuring devices and non-contact wound measuring devices. In 2024, the contact wound measuring devices segment is expected to dominate the market with a market share of 63.22%
- Based on wound type, the global wound care monitoring market is segmented into chronic wounds and acute wounds. In 2024, the chronic wounds segment is expected to dominate the market with a market share of 75.84%
- Based on application, the global wound care monitoring market is segmented into wound healing monitoring, wound assessment, infection detection, and treatment monitoring. In 2024, the wound healing monitoring segment is expected to dominate the market with a market share of 33.28%
- Based on end user, the global wound care monitoring market is segmented into hospitals, clinics, home healthcare, long-term care facilities, trauma centers, and others. In 2024, the hospitals segment is expected to dominate the market with a market share of 46.24%
- Based on distribution channel, the global wound care monitoring market is segmented into direct tenders and retail sales. In 2024, the direct tenders segment is expected to dominate the market with a market share of 65.06%
Major Players
Data Bridge Market Research analyses the following companies as the major global wound care monitoring market players in the market that include Smith+Nephew (U.K.), Medline Industries, LP (U.S.), Mölnlycke Health Care AB (Sweden), Convatec Group PLC (U.K.).
Market Development
- In August 2024, Medline earned the first-ever Diamond-level Healthcare Industry Resilience Collaborative (HIRC) Resiliency Badge for manufacturing. This recognition highlighted Medline’s exceptional global manufacturing and supply chain resilience across various products, including PPE and surgical supplies. The badge acknowledged Medline’s excellence in demand planning, inventory management, and risk management. This achievement followed their previous Diamond-level award for distribution, reflecting their comprehensive supply chain strength
- In March 2024, Mölnlycke Health Care AB has been honored with a gold medal by EcoVadis for its commitment to sustainability, placing the company in the top 3% globally. This recognition will enhance Mölnlycke's reputation, attract environmentally conscious customers, and drive sustainable growth
- In November 2021, Convatec has extended its contract with Vizient, Inc. for advanced wound care products. The new agreement, effective from February 1, 2022, to January 31, 2025, continues their long-term partnership and aims to enhance clinical outcomes and provide economic savings through formulary standardization
- In September 2023, Spectral AI’s subsidiary received a USD 149 million BARDA contract to advance its wound care technologies. The funding will support the development and commercialization of innovative solutions for improved wound healing
Regional Analysis
Geographically, the countries covered in the global wound care monitoring market report are the U.S., Canada, and Mexico, Germany, France, U.K., Italy, Spain, Netherlands, Switzerland, Russia, Belgium, Turkey, Rest of Europe, China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Singapore, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Colombia, Chile, Peru, Venezuela, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
North America is the dominant region in the global wound care monitoring market during the forecast period of 2024 to 2031
North America is expected to dominate the market due to its advanced healthcare infrastructure and high awareness levels and advancements in technology, increasing prevalence of chronic wounds, and a rising demand for innovative and efficient wound care solutions.
Asia-Pacific is the fastest growing region in the global wound care monitoring market during the forecast period of 2024 to 2031
Asia-Pacific is the fastest growing region due to its large aging population, increasing incidence of chronic wounds, and growing investments in healthcare infrastructure.
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