Innovative Technologies And Heightened Awareness Of Benefits Put Advanced Wound Management Industry On Growth Path.
Frost & SullivanÂ’s Analysis Of The European Market For Advanced Wound Management
(PRWEB) August 30, 2003
August, 2003 -- Demand for advanced wound management is escalating with the introduction of increasingly innovative products and the growing realisation of the benefits associated with modern wound management technology amongst healthcare decision-makers.
More efficacious clinical results, combined with the prospect of substantial cost benefits, achieved through a reduction in the required treatment time, are shifting interest from traditional to premium-priced advanced wound care products.
Frost & Sullivan, the international market consultancy, has issued a bullish forecast for the European advanced wound management market, comprising moist wound dressings, silver dressings, as well as biomaterial dressings and skin substitutes. Revenues are set to climb from US$476 million in 2002 to US$1.1 billion in 2009.
Europe is the undisputed leader in the global advanced wound management market in terms of the penetration of new and innovative practices. Indeed, the US market is trailing behind with a current total sales volume nudging a mere US$300 million.
Immobility is the major cause of pressure sores, hence, EuropeÂ’s ageing population, accounting for a disproportionate number of chronic wounds, creates considerable momentum behind growth in the advanced wound management market.
“The improved survival of patients with long-term illness and weaker immune systems is another related factor prompting growth in the industry. Such patients, particularly after surgery or hospital treatment, are more likely to suffer hospital-acquired infections, which may result in chronic wounds,” reports Andrew Passey, Industry Analyst at Frost & Sullivan.
The market is seeing a growing acknowledgement of advanced wound management productsÂ’ capabilities, such as a minimisation of nursing time and an acceleration in recovery, resulting in great cost efficiencies.
Market participants are now up against the challenge of providing end-users with the necessary evidence to further uptake. Frost & Sullivan points to lingering resistance in the marketplace, with some focus remaining on the ‘price per piece’ mentality for advanced dressings.
“Fundamentally, the clinical benefits of advanced wound management over traditional wound care practices include faster wound healing and reduced scarring, thus resulting in a better outcome for patients. However, cost pressures in the European healthcare system are a major issue in this market, with governments seeking new approaches to tackle these cost constraints,” Mr Passey reports.
The lack of a regulatory framework in the EU has created problems in terms of companies obtaining reimbursement for their products and represents a further stumbling block to growth in the overall market. It has also led to trade barriers, as national requirements have been created to ‘fill the vacuum’, thus deterring potential investors. Indeed, at least two EU companies working on tissue-engineered products have collapsed after encountering cash flow difficulties.
The integration of materials such as collagen, hyaluronic acid and silver into moist wound healing products is clearly driving the market. However, the market is also experiencing a trend towards the combination of existing moist wound care technologies, as illustrated by Versiva, an adhesive dressing introduced by ConvaTec.
“This product essentially combines three technologies, foam-film, hydrofibre and hydrocolloid, with the objective of providing optimal moisture balance to support wound healing and provide better patient comfort.
Such developments create challenges for other companies, and also for ConvaTec itself in terms of positioning Versiva against other products on the market. However, it certainly appears that this will prompt further growth in the European advanced wound management market,” Mr Passey notes.
Meanwhile in the burn management sector, the emphasis is beginning to shift from mere survival to improved outcomes and better control of scarring. This is being aided by new developments in technology, such as skin substitutes, a logical step in the design of better burns treatment.
This is particularly the case for full thickness wounds, as this is where scarring is most prevalent. More clinical studies need to be undertaken, as this technology is not accepted into the mainstream at present. There is some way to go before it is widely used in the area of chronic wound care.
The biomaterial dressing and skin substitutes sector has received increasing attention in recent years. However, in the short to medium term, this market is not likely to reach the level of market revenues that many had originally hoped for. Currently, the pricing level in this product market is prohibitively high, hampering efforts to achieve widespread reimbursement.
The competitor name on everyoneÂ’s lips is Smith & Nephew, which has made continual gains in market share over the last five years to assume the top spot in the European market. A major driver of Smith & NephewÂ’s success has been its strength in the hugely influential UK market and its strong position in the all-important area of foam dressings.
Other prominent names in the European advanced wound management market include ConvaTec, Johnson & Johnson, Coloplast and Mölnlycke Healthcare.
A number of other players, fragmented across Europe and including new entrants such as Tyco Healthcare and B Braun, have witnessed robust growth in the buoyant market segments, such as foam dressings. Those areas displaying most lively demand at the moment are innovative new products such as antimicrobial and biomaterial dressings. This is one factor explaining Johnson & JohnsonÂ’s current powerful market performance.
Report Code: B153
Price for Report: EUR 5,000
Publication Date: August 2003
Background
Frost & Sullivan is an international marketing consulting company that monitors a comprehensive spectrum of markets for trends, market measurements and strategies. This on-going research is utilised to complement a series of research publications to support industry participants with customised consulting needs. Interviews and free executive summaries are available to the press.
For unlimited access to constantly updated medical devices market news written exclusively by Frost & SullivanÂ’s team of industry experts visit http://medicaldevices. frost. com (http://medicaldevices. frost. com).
For more information contact:
Katja Feick
Public Relations Manager
Healthcare Group
Katja. feick@frost. com
T +44 (0) 20 7915 78 56
Http://frost. com (http://frost. com)
Http://pressroom. frost. com (http://pressroom. frost. com)
