Heightened Focus On Patient Safety To Spur Demand For Patient Prepping Products, Finds Frost & Sullivan
LONDON, Jan. 16, 2013 /PRNewswire/ -- Patient prepping products (PPP) are essential to ensure patient safety. Advantages include cost and time savings and improved efficiency in the allocation of healthcare funds.
New analysis from Frost & Sullivan ( http://www.healthcare.frost.com), Western European Patient Prepping Products Market, finds that the market earned revenues of $866.9 million in 2011 and estimates this to reach $1,302.3 million by 2018. The research covers 2 major segments: IV (custom procedure trays and antiseptic prep pads) and surgical (hair removal, antiseptics, incise drapes, and others including oral and nasal prep products).
"An ageing population has had a positive impact on procedure volumes, boosting the uptake of PPP," notes Frost & Sullivan Industry Analyst Beulah Devadason. "Rising awareness about the need to prevent healthcare associated infections (HAI) is also promoting the uptake of PPP."
However, current economic conditions have resulted in hospitals facing increasingly severe budgeting pressures. This, in turn, has affected manufacturers who have resorted to underselling the competition to win tenders.Nevertheless, such pricing pressures are expected to have a limited impact on market growth. Instead of price, the focus will be on product efficacy since effective products can help avoid the long term costs associated with infection related hospitalization. This focus on product efficacy, reliability and quality is highlighting the need for a complete solutions provider. "Market participants recognize the competitive advantage of providing end-to-end solutions," remarks Devadason. "Most Tier I participants have a comprehensive product line or have entered into strategic alliances to expand their existing product portfolio." The introduction of ChlorhexidineGluconate (CHG) wipes, and iodine diffusing incise drapes represent efforts at product differentiation. They have the potential to shift market dynamics in a slow growth market and are a strategic response from manufacturers to gain market share.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV