Global Digital Wound Care Management Market - 2024-2031

Report Overview

The Global Digital Wound Care Management Market reached US$ 4.22 billion in 2023 and is expected to reach US$ 7.21 billion by 2031 growing with a CAGR of 6.9% during the forecast period 2024-2031.

Digital wound care management refers to the integration of advanced technologies and digital solutions into the treatment and monitoring of wounds, enhancing the entire continuum of wound care. This includes assessment, diagnosis, treatment, and ongoing monitoring, utilizing tools such as electronic health records (EHRs), telemedicine, mobile applications, and smart devices.

The digital wound care management framework covers every phase of wound care. This implies that from the initial evaluation of a wound through its treatment and ongoing monitoring, digital tools help create a more efficient and effective process. One of the main objectives of digital wound care management is to furnish healthcare professionals with real-time data and insights. This capability boosts the precision and effectiveness of wound care procedures, enabling prompt interventions and modifications to treatment plans based on the wound's current state.

Digital wound care management also promotes enhanced communication and collaboration among healthcare providers, patients, and caregivers. Integrating various digital platforms guarantees that all stakeholders have access to vital information, which is crucial for coordinated care.

Market Dynamics: Drivers

Rising incidence of chronic wounds and technological advancements

The demand for the global digital wound care management market is driven by multiple factors. One of the primary factors is the rising incidence of chronic wounds and technological advancements. The growing incidence of chronic wounds, particularly in the elderly and those with diabetes, represents a major public health issue. Chronic wounds, including diabetic foot ulcers, carry substantial health risks and can lead to serious complications.

As per NCBI research publication in January 2023, diabetic foot ulcers (DFUs) are a significant source of preventable health issues for adults with diabetes, leading to serious complications. These ulcers can result in a decline in functional status, infections, hospitalizations, lower-extremity amputations, and even death. The lifetime risk of developing a foot ulcer ranges from 19% to 34%, and this risk is increasing due to longer life expectancies and the growing complexity of diabetes management demand for digital wound care management.

Continuous innovations in digital wound care management solutions, such as telehealth and digital measurement tools, are significantly improving the efficiency and effectiveness of wound care. Telehealth enables remote consultations between patients and healthcare providers, facilitating prompt evaluations and interventions without requiring in-person visits. Digital wound care solutions support continuous monitoring of wound status. AI-powered technologies can analyze healing patterns and forecast potential complications, enabling proactive management.

Moreover, key players in the industry strategies such as awareness programs, innovative product launches, and key developments help to drive this market growth. For instance, in March 2024, Healthy.io, a global leader in converting smartphone cameras into medical devices, is launching an innovative program that utilizes smartphone technology to enhance wound care management for patients with chronic diabetic wounds. This pilot initiative will expand access to Healthy.io's Minuteful for Wound solution for patients in the Vascular Surgery and Endovascular Therapy department at Johns Hopkins Hospital.

Also, in June 2022, NATROX Wound Care ventured into the digital space with the introduction of NATROX IQ, an advanced digital application designed specifically for wound care teams. This innovative platform aims to enhance the management of caseloads, enabling clinicians to maintain consistency in capturing and documenting patient wound data. Currently available through distribution partners in Hong Kong and Malaysia, NATROX IQ simplifies the wound documentation process, making it more efficient for healthcare providers.

Similarly, in April 2022, Swift Medical is an innovative company based in Toronto that is transforming the field of wound care management. Chronic wounds pose a significant challenge in the healthcare system, and Swift Medical, through its 'Swift Skin and Wound' management solution, is assisting clinical organizations, healthcare professionals, and patients in overcoming the difficulties associated with these wounds.

Restraints

Factors such as the high cost of digital wound management systems, limited reimbursement policies, lack of awareness among individuals, data privacy and security concerns, and lack of proper reimbursement policies, are expected to hamper the market.

Market Segment Analysis

The global digital wound care management market is segmented based on product, wound type, end-user, and region.

The software segment accounted for approximately 73.2% of the global digital wound care management market share

The software segment is expected to hold the largest market share over the forecast period. The incorporation of artificial intelligence (AI) and machine learning technologies is transforming the software segment in the market. These advancements facilitate the creation of advanced solutions capable of analyzing wound images, forecasting healing results, and suggesting the best treatment plans. By delivering consistent and objective evaluations, AI-powered software improves the precision of wound assessments, which is essential for effective treatment.

The surge in telemedicine has generated a demand for digital solutions capable of managing wounds from a distance. Software that integrates with telehealth platforms enables healthcare professionals to monitor patients unable to attend in-person appointments, ensuring uninterrupted care. This is especially advantageous for individuals with chronic wounds necessitating frequent assessments and modifications to their treatment regimens.

Moreover, key players in the industry strategies such as partnerships and collaborations, technological advancements in software, and product launches help to drive this market growth. For instance, in April 2023, MolecuLight Corp., the leader in point-of-care fluorescence imaging for detecting and locating elevated bacterial loads in wounds, announced a partnership with Perceptive Solutions to deliver a cloud-based wound management solution. This integrated offering will combine MolecuLight's DX bacterial imaging device with Perceptive Solutions' WoundZoom wound management platform.

Also, in July 2024, Industry thought leader Dr. Paul Kim and Perceptive Solutions president Mark Lacerte recently discussed WoundZoom, an advanced software platform designed to enhance wound care management. This platform offers several key functionalities aimed at improving clinical workflows and patient outcomes.

Similarly, in March 2022, Swift Medical launched a new imaging device called Swift Ray 1, which represents a significant advancement in digital wound care technology. This innovative device is designed to enhance the assessment and monitoring of skin and wound conditions by providing advanced imaging capabilities that go beyond what can be seen with the naked eye.

Market Geographical Analysis

North America accounted for approximately 44.2% of the global digital wound care management market share

North America region is expected to hold the largest market share over the forecast period owing to the increasing incidence of chronic wounds, particularly among the aging population and individuals with diabetes, which is driving demand for effective digital wound management solutions.

Moreover, a major number of key player's presence, well-advanced healthcare infrastructure, government initiatives, support & awareness programs, technological innovations, and financial investments are propelling this market growth in this region.

For instance, in January 2024, in Canada, Swift Medical, a prominent player in the digital health space focused on AI-powered wound care solutions, successfully raised $8 million in a funding round co-led by BDC Capital's Women in Technology Venture Fund and funds managed by Virgo Investment Group. This strategic investment will enable Swift Medical to accelerate its mission of transforming chronic and acute wound care through cutting-edge technology and artificial intelligence.

Also, in July 2023, Net Health, a leading provider of cloud-based software for specialty medical providers, announced an expanded partnership with Healogics, the foremost operator of wound care centers in the U.S. This collaboration aims to advance the wound care industry by integrating Net Health's Tissue Analytics solution, a mobile imaging and artificial intelligence (AI) platform designed specifically for wound management.

Similarly, in January 2022, Healogics, the leading provider of advanced wound care services in the United States, launched its "Healing Can't Wait" program to address the needs of millions of Americans suffering from chronic, non-healing wounds. These wounds, which affect approximately seven million people in the country, have a significant impact on patients' quality of life and life expectancy.

Market Segmentation

By Product

Software

Hardware

By Wound Type

Chronic Wounds

Pressure Ulcers

Diabetic Foot Ulcers

Others

Acute Wounds

Burns & Trauma

Surgical Wounds

By End-User

Hospitals

Wound Care Clinics

Others

By Region

North America

U.S.

Canada

Mexico

Europe

Germany

U.K.

France

Spain

Italy

Rest of Europe

South America

Brazil

Argentina

The rest of South America

Asia-Pacific

China

India

Japan

South Korea

Rest of Asia-Pacific

Middle East and Africa

Market Competitive Landscape

The major global players in the digital wound care management market include Smith+Nephew, Swift Medical Inc., Healogics, LLC., Essity Aktiebolag (publ)., MolecuLight Inc., Net Health Systems, Inc., WoundZoom, Essity Aktiebolag (publ)., Entec Health Ltd., and 3M among others.

Key Developments

In March 2024, Digital wound care management leader Swift Medical announced a strategic co-investment from DIGITAL, Canada's Global Innovation Cluster for digital technologies. This collaboration marks a significant step forward in advancing healthcare innovation. The partnership aims to transform the delivery of wound care by leveraging artificial intelligence (AI) to achieve notable improvements in patient outcomes and ensure equitable treatment access.

In July 2022, Smith+Nephew, a leading global medical technology company, launched the WOUND COMPASS Clinical Support App, a comprehensive digital tool designed to aid healthcare professionals in wound assessment and decision-making. This launch aims to help reduce practice variation in wound care management.

Why Purchase the Report?

To visualize the global digital wound care management market segmentation based on product, wound type, end-user, and region and understand key commercial assets and players.

Identify commercial opportunities by analyzing trends and co-development.

Excel data sheet with numerous data points of the digital wound care management market with all segments.

PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.

Product mapping is available in Excel consisting of key products of all the major players.

The global digital wound care management market report would provide approximately 62 tables, 50 figures, and 181 pages.

Target Audience 2024

Manufacturers/ Buyers

Industry Investors/Investment Bankers

Research Professionals

Emerging Companies