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Growth Opportunities in the South African Patient Monitoring Market
Frost & Sullivan, April 2008, Pages: 141
This Frost & Sullivan research service entitled Growth Opportunities in the South African Patient Monitoring Market provides an overview of trends in the public and private hospital sectors, as well as expenditure in terms of total market and growth prospects for patient monitoring systems. In this research, Frost & Sullivan's expert analysts thoroughly examine the expenditures and market leaders in public sector as well as private sector hospitals, leading manufacturers of patient monitoring equipment, integrated patient monitoring systems, hospital information systems and electronic health records.
Market Overview
Improved Interoperability to Encourage the Widespread Uptake of Patient Monitoring Devices
Patient monitoring systems are moving towards the integration of patient vital signs measurement, along with ventilator, cardiology, anaesthesiology and ultrasound measurements. Patient monitoring, HIS and hospital networks are being linked into overall enterprise management software systems to create electronic patient/health records (eHR). Such initiatives, aimed at enhancing patient monitoring, offer the prospect of boosting staff efficiency, lowering mortality rates and reducing the duration of hospital visits by assisting recovery. These advantages are supporting the uptake of advanced patient monitoring systems.
A major challenge in the market relates to patient monitoring systems being imported from China. Although less sophisticated, and with limited capacity for integration, than the branded majors, they are available at a quarter of the price of competing equivalents and are a growing market force. Improved technological integration and ease-of-use will enable manufacturers in the South African patient monitoring market to compete with cheaper, but comparatively less powerful, Chinese-made alternatives. 'The integration of patient monitoring systems will allow hospitals to ensure significant cost savings, as well as comprehensive monitoring and integration of data-sharing systems,' advises the analyst of this research. 'Companies that are unable to compete with the Chinese on price will have to concentrate on improving ease-of-use, client service and simple integration capabilities.'
Significant Grants for Upgrades in Public Sector Hospitals to Support Continued Market Expansion
The private hospital sector is extremely mature: limited in terms of patient growth and market opportunities. This sector is focusing on boosting efficiency while pursuing cost saving and optimisation strategies to ensure rapid patient throughput and long-term client retention. At the same time, the public health sector is limited by the funds made available by the national treasury. Individual provinces are, sometimes, able to make additional funds available but the total still falls far short of the overall demand.
The public sector, despite accounting for 49.3 per cent of total health expenditure, has been inefficient at upgrading and maintaining its capital equipment. Realising this, the state has initiated the public hospital revitalisation programme, under which it has committed to spend $1 billion over the next four years to upgrade/refurbish 48 hospitals. Other significant regional grants have also been approved to upgrade provincial public hospitals. Such special provincial expenditure may boost patient monitoring spending by an additional $1.00–1.80 million per year until 2010.
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