Smart Bandages Market to Witness Exorbitant R&D Investments

  • 14 Apr 2019

Smartphones and smart watches can be used as an effective wound-healing devices by using smart medical solutions like smart bandages. They are designed with temperature and pH sensors that are inbuilt and they electronically deliver medication with spatial and temporal control over the
wounded area
Clinical trials for these lab-tested smart bandages are already slated and in progress. Chronic wounds healing in amputation treatments, diabetics patients, burns and trauma cases, as well as treatments for wounded soldiers in the battlefield can be optimized in terms of real-time tissue repair regeneration process with smart bandages.
Smart bandages allow 24/7 wound healing management by sensing, analysing, dispensing medication and reporting progressions in the form of alerts to the healthcare professional and patient.
Presently smart bandages are in clinical trials and are expected to launch by the later phase of the forecast period, 2019-2026. During the first half of the forecast period the market is expected to witness high R&D investments.

Global Smart Bandages Market Trends


> 3D Printing to play an important role in the manufacturing of smart bandages. The flexible 3D printed strata need to be customized for thermo-sensors, pH sensors antibiotic microbeads and hydrogel to placed accurately depending on wound type being healed. Hence would be instrumental in tailoring the treatment protocol depending on individual patient’s needs.
> Smart bandages market would rely on automated and semi-automated systems requiring high speed resilient wireless network bandwidth. Hence smart bandages manufacturers will have to thoroughly test their products especially for monitoring and reporting functions if they wish to lead the market.
> The R&D investments will be done in excess as researchers have only successfully tested the smart bandages in vitro and pre-clinical studies being conducted are yet to prove a holistic clinical advantage in improving healing to traditional passive bandages.
Companies launching the smart bandages with cost-effective pricing would gain added advantages as compared to their competitors in the global smart bandages market.
> Increased support from government and military departments to support the implementation of smart technologies in wound healing management.
Rising need to provide an alternative to reusable components for smart bandages that are costly like microprocessors.
Smart Bandages offers a potential opportunity for innovators and expected to boost the growth of smart bandages market during the forecast period.

Global Smart Bandages Market, by Application Type:  


•    Surgical Wound Treatment  
•    Sports Injury  
•    Burn Injury  
•    Other Injuries 
Due to rising need for surgeries in patients suffering from various medical conditions and burns being common during casualties surgical wound healing and burn injuries segment would dominate the smart bandages market. However, rise non-invasive surgical process can hinder the growth of smart bandages surgical wound treatment market. 

 Global Smart Bandages Market, by Distribution Channel: 


•    Retail Pharmacies  
•    Hospital Pharmacies  
•    Clinics  
•    Trauma Centers 

 

 Global Smart Bandages Market, by Region:  
•    Europe  
•    North America  
•    APAC  
•    Latin America  
•    Rest of World
North America smart bandages market is expected to account a major share in the global market due to high penetration among the service sectors. It was followed by the European region and it also accounts significant share over the forecast period. High prevalence of diabetes in Asia Pacific region is expected to create a potential opportunity space for smart bandage market. Latin America and Rest of the world market are expected to account a small fraction of market share due to less adoption.


Competitive Landscape:  
•    Tier 1 players- established companies in the market with a major market share  
•    Tier 2 players 
•    Emerging players which are growing rapidly 
•    New Entrants   
 

FutureWise Key Takeaways  
•    Growth prospects  
•    SWOT analysis 
•    Key trends 
•    Key data-points affecting market growth  


Objectives of the Study: 
•    To provide with an exhaustive analysis on the global smart bandages market on the basis of application type, distribution channel, and region   
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints) 
•    To evaluate and forecast micro-markets and the overall market  
•    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East 
•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions 
•    Profiling of companies to evaluate their market shares, strategies, financials and core competencies  

Get unlimited analyst support and customise this study further to your requirements, contact [email protected]