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Strategic Analysis of the South African Advanced Wound Care MarketsPublished by: Frost & Sullivan Published: Jan. 31, 2008 - 145 Pages Table of Contents
AbstractThis Frost & Sullivan research service titled Strategic Analysis of the South African Advanced Wound Care Markets provides an overview of advanced wound care dressings as divided between chronic and acute wounds. Market size as well as detailed discussions of key participants are also provided. In this research, Frost & Sullivan's expert analysts thoroughly examine critical industry challenges, drivers, restraints and trends, while providing growth forecasts and strategic recommendations.This analysis is available through our Medical Devices Growth Partnership Services programme. With this programme, clients receive industry-leading market research such as this, along with technical and econometric data and many interactive features including Analyst Inquiry Time and Client Councils. Market Overview Clinical and Cost Benefits to Underline the Appeal of Advanced Wound Care Management The South African public healthcare system is confronting major cost pressures, with constant demands for earlier hospital discharges and higher utilisation of hospital beds. In the private sector, early discharges are driven by medical aid constraints and high costs. As a result, higher patient throughput is experienced. Advanced wound care management complements these needs. The clinical benefits of advanced wound care management over traditional wound care practices include fundamentally faster wound healing and minimised scarring, leading to better clinical outcomes. At the same time, by reducing nursing times and accelerating recovery, advanced wound care products are generating cost efficiencies. "Advanced wound care products account for faster wound healing and reduced nursing time in hospitals, leading to earlier hospital discharges and a higher utilisation of hospital beds," elaborates the analyst of this research. "This represents an important advantage to the healthcare industry and companies should, therefore, focus on this aspect as part of their marketing strategies." The market is also expanding due to the increased adoption of available technology by the public sector, the launch of new technology and improved dressings and heightened awareness caused by the information dissemination strategies is undertaken by market participants. The significant long-term cost advantages offered by advanced wound care management to the healthcare industry are also reinforcing market growth. User Education and Demonstrated Cost Effectiveness Critical for Market Takeoff Education of the market constitutes a continuous challenge for companies and represents an important focus area of their marketing strategies. Understanding end users and the level of market readiness for a new product will pose key challenges. Until end users comprehend both concept and cost benefits, a takeoff in demand is unlikely. Evidence-based healthcare is a philosophy that is intended to guide healthcare professionals, enabling them to provide the best and the most appropriate standard of care. The need for greater efficiency in healthcare systems will require the cost effectiveness of products to be demonstrated prior to reimbursement. At present, South Africa’s public health sector still has a ‘price-per-piece’ rather than a ‘total cost’ approach. While manufacturers are moving in the direction of providing evidence to support the latter, the increased need to provide such proof is likely to retard the uptake of new concepts such as tissue engineering and biomaterial dressings for chronic wounds. "For every product launch strategy, a detailed market potential analysis must be undertaken," advises the analyst. "Simultaneously, enhanced penetration and expansion can be achieved through demonstrating long-term cost benefits and promoting awareness/education strategies. Get Full Details About This Report >> |
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