Wound Healing Assessment Market Is Estimated To Reach US$ 176.8 Million By The End Of 2034: Fact.MR

Role of Noninvasive Imaging Techniques to Improve Diagnosis and Lower Infection Risk Benefiting Wound Healing Assessment Market: Fact.MR Report

ROCKVILLE, MD, UNITED STATES, May 8, 2024 /EINPresswire.com/ -- The field of wound management is undergoing a transformation driven by technological innovations and evolving healthcare practices. As such, the global wound healing assessment market is estimated to generate revenue of US$ 106.8 million in 2024 and further expand to reach a valuation of US$ 176.8 million by the end of 2034.

The market is expanding steadily as a result of the rising demand for effective wound care management techniques. The increasing aging population, rising number of vehicle accidents, and surge in the incidence of chronic wounds are driving the need for wound-healing assessment solutions. The providers of wound care imaging technologies have blended clinical expertise with the latest technological developments.

Wound healing imaging technology offers several advantages, such as better diagnosis, higher patient success rates, lower infection risk, and more. It also puts greater emphasis on digital wound care evaluation tools. Noninvasive optical imaging techniques, including fluorescence imaging, laser Doppler imaging, long-wave infrared technology, near-infrared spectroscopy, and spatial frequency domain imaging, have also emerged, and market players are benefitting from these advancements.

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Key Takeaways from Market Study

The global market for wound healing assessment is projected to expand at a CAGR of 5.2% from 2024 to 2034. The North American market is projected to reach US$ 82 million by the end of 2034.

The United States market is forecasted to expand at a CAGR of 5.9% from 2024 to 2034. By end user, the hospitals segment is estimated to reach a value of US$ 44.3 million in 2024.

China is set to hold 37.5% market share in East Asia in 2024. The market in South Korea is projected to expand at a CAGR of 4.1% through 2034. The Canadian market for wound healing assessment is poised to reach US$ 3 million in 2024.

“Demand for wound healing assessment solutions is being influenced by the rising incidence of chronic wounds among the elderly population. Diabetes is one of the main factors contributing to chronic injuries among the elderly,” says a Fact.MR analyst.

Key players in the Wound Healing Assessment Market are 3M Company, HyperMed Imaging, Inc., WoundVision, URGO Medical, Kent Imaging Inc., Medtronic, Derma Sciences Inc., digitalMedLab GmbH, Ethicon (Johnson & Johnson), Perceptive Solutions, Tissue Analytics (A Net Health Company), Medline Industries, Baxter International, Coloplast Corp., Spectral MD USA, eKare Europe BV, B.Braun Melsungen AG, MolecuLight Inc., ConvaTec Group PLC, WoundMatrix, Inc., Smith & Nephew, ARANZ Medical Limited

High Cost of Wound Healing Treatment and Evaluation Technology Hindering Market Growth

Cost of wound healing evaluations varies greatly based on the extent and nature of the injury. Diabetes patients' wounds in particular are difficult to heal or take a long time to do so, which drives up treatment costs. The high cost of wound healing evaluation equipment is hindering market expansion. The cost of therapy also rises as a result of higher maintenance costs brought on by technological advancements in devices.

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Country-wise Insights:

North America is expected to be the largest global player in the wound healing assessment market, with a projected 43.8% market share. The number of patients with diabetes and the increase in surgical procedures are the main causes of this. The need for wound healing assessments in the area is increasing as a result of all of these causes.

In terms of revenue share in 2024, the US dominates the North American market with a 90.2% share. The income of wound healing assessment providers is increasing due to the existence of major players in the market, robust healthcare infrastructure, and well-constructed import-export facilities. The government's emphasis on improving healthcare facilities is another factor propelling industry expansion. Among other countries, the US is unique in that it has highly developed technology, especially in the field of healthcare. Patients seeking efficient treatment from throughout the globe come to the nation as a result of technological breakthroughs.

Convatec launched ConvaFoam in the US market in January 2023. ConvaFoam is a line of advanced foam dressings designed to satisfy the requirements of medical professionals and patients alike. The corporation gained a considerable competitive advantage with this product launch, which broadened its product offering.

Competitive Landscape:

Researchers in Singapore developed the PETAL sensor patch in June 2023. In fifteen minutes, it can assess a patient's state of wound healing thanks to its five colorimetric sensors.

Avery Dennison's exclusive BeneHold CHG adhesive technology and the top antibacterial Chlorhexidine Gluconate (CHG) in the surgical incise drape market were featured in a surgical incise drape introduced by Cardinal Health in 2022.

Smith+Nephew started construction on its R&D and production facilities for its advanced wound care business in the Hull suburbs of the United Kingdom in June 2022.

The WoundZoom Mobile Digital Wound Management Application, developed by Perceptive Solutions, was made available in April 2021. It allows physicians to assess patients' wounds directly from a tablet or smartphone.

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