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Quest for High-Performance, Cost-effective Products Defines Western European Advanced Wound Management Market, Says Frost & Sullivan

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Quest for High-Performance, Cost-effective Products Defines Western European Advanced Wound Management Market, Says Frost & Sullivan PR Newswire LONDON, June 20, 2012 - Quest Attracts Intensifying Competition while Simultaneously Threatening to Derail Market by Skewing Product Pricing LONDON, June 20, 2012 /PRNewswire/ -- An ageing population and the increasing incidence of lifestyle diseases, such as obesity and diabetes, are being paralleled by a steady stream of technologically advanced, high- performance, cost-effective advanced wound management products. Studies touting the long-term cost efficiency of using such products over traditional equivalents will provide a further fillip to the advanced wound management market. New analysis from Frost & Sullivan (http://www.medicaldevices.frost.com), Less Pain, More Gain—Analysis of the Advanced Wound Management Market, finds that the market in Western Europe generated $ 1,508.4 million in 2010 and estimates this to reach $ 2491.2 million in 2017. The research covers moist wound dressings, antimicrobial dressings, active therapies and negative pressure wound therapy (NPWT). "Advanced wound management usually comprises treatment of chronic wounds in elderly patients," notes Frost & Sullivan Research Analyst Brahadeesh Chandrasekaran. "As the incidence of chronic wounds rises, it is set to trigger demand for advanced wound management products.

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Quest for High-Performance, Cost-effective
Products Defines Western European Advanced
Wound Management Market, Says Frost &
Sullivan
PR Newswire
LONDON, June 20, 2012
- Quest Attracts Intensifying Competition while Simultaneously
Threatening to Derail Market by Skewing Product Pricing
LONDON
,
June 20, 2012
/PRNewswire/ -- An ageing population and the
increasing incidence of lifestyle diseases, such as obesity and diabetes, are
being paralleled by a steady stream of technologically advanced, high-
performance, cost-effective advanced wound management products. Studies
touting the long-term cost efficiency of using such products over traditional
equivalents will provide a further fillip to the advanced wound management
market.
New analysis from Frost & Sullivan (http://www.medicaldevices.frost.com),
Less
Pain, More Gain—Analysis of the Advanced Wound Management
Market
, finds that the market in
Western Europe
generated
$ 1,508.4 million
in 2010 and estimates this to reach
$ 2491.2 million
in 2017. The research
covers moist wound dressings, antimicrobial dressings, active therapies and
negative pressure wound therapy (NPWT).
"Advanced wound management usually comprises treatment of chronic
wounds in elderly patients," notes Frost & Sullivan Research Analyst
Brahadeesh Chandrasekaran. "As the incidence of chronic wounds rises, it is set
to trigger demand for advanced wound management products."
Healthcare economics, including rising operational costs at hospitals and cost
burdens carried by care facilities for hospital-acquired infections, will also boost
the use of more advanced healing technologies. This is because advanced
wound care products have repeatedly demonstrated both cost-effectiveness
and superior clinical outcomes.
"The homecare market for advanced wound management products is still
under-penetrated mainly due to reimbursement issues," says Chandrasekaran.
"The prospective market is considerably larger than the current one; advanced
wound management products are likely to penetrate the homecare sector at a
much higher rate than before."
While these are positive trends, a worrying trend is the intensifying competition.
Keen competition is threatening existing product pricing, while creating major
challenges for small and large companies alike.
"Large companies will try to maintain a strong position by offering products
across all segments," remarks Chandrasekaran. "Small companies are likely to
try and expand their presence by partnering with another small company which
has products in other segments. Through such strategies, companies – both
large and small – will attempt to minimise the effect of aggressive product
pricing."
Challenges related to innovative offerings constitute another area of concern.