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South African Advanced Wound Care Market
Frost & Sullivan, Oct 2009, Pages: 91
Advanced wound care in South Africa is typified by four key segments; moist wound care, antimicrobial wound care, negative pressure wound therapy, and advanced therapies. Lucrative growth was experienced in the market in 2008 particularly from the public sector where the adoption of advanced wound care products have increased substantially. This research service analyses the industry challenges, market drivers, and -restraints as well as key trends, and competitor analysis of the market in 2008 and further discusses the future impact of these factors.
This Frost & Sullivan research service titled South African Advanced Wound Care Market provides an overview of the total market as well as the individual segments it constitutes, by identifying the key participants and competitive dynamics, the market size in 2008 and revenue forecasts to 2015 as well as the key challenges and drivers experienced by the participants in this industry. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: moist wound care, antimicrobial wound care, negative pressure wound therapy and advanced therapies.
Market Overview
Multiple Benefits Underline the Popularity of Advanced Wound Care Products
The South African Government’s initiative to enrol a national health insurance scheme will drive down future prices in the medical devices industry, posing a challenge to the entire industry, including advanced wound care product manufacturers. These manufacturers are preparing for the change by proving the long-term cost saving of using advanced, rather than traditional, wound care products. With cost benefit and clinical evidence already playing a key role in this market, the majority of manufacturers should be in a strong position, both in terms of regulation and reimbursement. “Strong marketing and training campaigns are raising awareness of advanced wound care products even as the increasing number of competitors is accelerating the level of innovation,” opines the analyst of this research. “While the cost benefit of products will motivate the use of advanced care products over traditional dressings, the rising infection rate in South Africa will support the uptake of antimicrobial dressings.” Market prospects will be further promoted by the National Health Insurance Initiative. This scheme will facilitate the further penetration of advanced wound care products.
The biggest trend in the market will be the cost benefit that advanced wound care products offer over a long-term period. Healing rates of chronic and acute wounds are much faster using advanced wound care products. This subsequently leads to less nursing time, less hours in hospital and less chance that acute wounds may change in chronic conditions and/or alternatively that wounds end up not healing at all. The cost benefit of this to the healthcare industry of South Africa, particularly the public sector where funding is a key constraint, is enormous. Public sector’s adoption rate towards these technologies has increased substantially, and is poised to continue driving the growth over the long term.
Close Collaboration with Government Necessary to Maximise on the Growth Potential
The high cost of innovation has restrained the optimal uptake of advanced wound care products in the market. For example, the high cost of advanced therapies like tissue-engineered and bio-interactive dressings inhibits the optimal uptake of these products in the domestic market. Due to this, certain products have been removed from the market until their costs can be reduced or the need to launch such products arises. Instead, skin-like, scaffold dressings are gaining in popularity, particularly because these dressings are not as expensive.
Working closely with government to penetrate the complete pyramid in the public sector will lead to wider growth opportunities in future. “Shortages of supplies are abundant in the government sector,” comments the analyst. “Market participants need to work closely with government to determine and forecast demand in a more structured fashion in this sector, thereby improving the long-term cost benefit strategies that companies are trying to employ.” Advanced wound care manufacturers also need to collaborate with government in order to penetrate the secondary and primary levels of healthcare services, as a high percentage of acute and chronic wounds are prevalent within rural communities. Treating wounds in a more efficient manner at this level will not only improve the quality of life, but also lower overall costs to the public sector in terms of nursing time and subsequent hospitalisation due to wounds worsening. Training and education in the primary- and secondary-level hospitals and clinics will be essential to fulfil this strategy.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Moist wound care
- Antimicrobial wound care
- Negative pressure wound therapy
- Advanced therapies
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