As healthcare expenditure on wound management soars, healthcare systems in eastern Europe are shifting from traditional wound care products to more advanced alternatives in a bid to achieve cost-effective, improved clinical management of wounds and reduce healthcare outlays.
New analysis from Frost & Sullivan (medicaldevices.frost.com), Eastern European Advanced Wound Management Market finds that these markets earned revenues of $29.2 million in 2007 and estimates this to reach $45.7 million in 2014.
"The heightened awareness among physicians in eastern Europe about the advantages of advanced wound care products is supporting market expansion in the region," notes Frost & Sullivan Research Analyst Sowmya Rajagopalan. "The growing incidence of wounds is motivating the need for improved wound management in order to reduce healthcare expenditure. This inevitably boosts the popularity of advanced wound management techniques."
Changed regulations have resulted in a few advanced wound care products being reimbursed. This is setting the stage for the transition from traditional wound dressings to advanced wound management methods.
The increasing incidence of chronic wounds and shrinking healthcare budgets have made cost-effective advanced wound products an attractive proposition for governments seeking to reduce expenditures on wound care.
A key restraint to market growth is the lack of awareness among patients about the advantages of advanced wound care products. Moreover, pricing and reimbursement play a major role in the success of products in the region. Advanced wound care products are priced higher than traditional dressings and enjoy only limited reimbursement.
"The incidences of chronic wounds have been increasing over the last decade, but wound management hasn't improved accordingly," adds Rajagopalan. "This has resulted in considerable expenditures on wound care."
Improving the diagnosis of chronic wounds and enhancing patient awareness about the multiple advantages of advanced wound care solutions will support demand for these products and promote market growth.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the Eastern European advanced wound management market, then send an email to Patrick Cairns, Corporate Communications, at pcairns_pr[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.
Eastern European Advanced Wound Management Market is part of the Medical Devices Growth Partnership Service Programme, which also includes research in the following markets: European External Defibrillators Market; European Custom Procedure Trays Market; and Reconstructive Surgeries Market in Europe. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
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Eastern European Advanced Wound Management Market