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Patient Monitoring Market Presents Opportunities in South Africa - Technological innovations are blurring the line between patient monitoring systems and other medical devices
Patient Monitoring Market Presents Opportunities in South Africa

 

NewswireToday - /newswire/ - Cape Town, South Africa, 2008/04/22 - Technological innovations are blurring the line between patient monitoring systems and other medical devices.

   
 
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Enhanced technological integration and ease-of-use will enable sophisticated manufacturers in the South African patient monitoring market to compete with cheaper, but comparatively less powerful, Chinese-made offerings. At the same time, efforts to significantly lower prices will also support uptake levels.

New analysis from growth consulting company Frost & Sullivan (patientmonitoring.frost.com), Growth Opportunities in the South African Patient Monitoring Market, finds that the market earned revenues of $23.44 million in 2006 and estimates this to reach $31.11 million in 2012.

"Patient monitoring systems are moving towards the integration of patient vital signs measurement along with ventilator, cardiology, anaesthesiology and ultrasound measurements," notes Frost & Sullivan Research Analyst Gavin Chait. "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 improving patient monitoring offer the prospect of lowering mortality rates, reducing the duration of hospital visits by assisting recovery and boosting staff efficiency. These advantages are supporting the uptake of advanced patient monitoring systems.

There are however significant challenges to continued market growth. The private hospital sector is extremely mature and therefore limited in terms of patient growth and market opportunities. This sector is pursuing cost saving and optimisation strategies to ensure rapid patient throughput and long-term client retention.

Moreover, the public health sector is limited by the funds made available by the national treasury. In some cases individual provinces are able to make additional funds available, but the total still falls far short of the overall demand.

"Many factors contribute to the restraints experienced by the public sector," explains Chait. "Inadequate management, poorly trained clinical staff, limited coordination in health planning, lack of harmonisation in purchasing and a generally inefficient tender process all play a role."

Promisingly, however, the prognosis for the long term is more optimistic. The market is set to receive a fillip from the public hospital revitalisation programme, under which the state has committed to spend $1 billion by 2010 to upgrade/refurbish 48 hospitals. Other significant regional grants have also been approved to upgrade provincial public hospitals. For instance, a $15.43 million tender is due to be released to upgrade ICUs in state hospitals in the Gauteng province.

A major challenge in the market relates to the import of patient monitoring systems from China. Although less sophisticated and less capable of integration than the branded majors, they are available at a quarter of the price of competing equivalents and are providing significant competition.

"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 Chait. "Companies that are unable to compete with the Chinese on price will have to concentrate on enhancing ease-of-use, client service and simple integration capabilities."

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the Growth Opportunities in the South African Patient Monitoring Market, then send an email to Patrick Cairns, Corporate Communications, at patrick.cairns[.]frost.com, with your full name, company name, title, telephone number, fax number, and email address. Upon receipt of the above information, an overview will be sent to you by email.

Growth Opportunities in the South African Patient Monitoring Market is part of the Patient Monitoring Growth Partnership Service programme, which also includes research in the following markets: Strategic Assessment of the Healthcare Industry in Key Sub-Saharan African Countries, Global Patient Monitoring Market and EMEA Patient Monitoring Market. 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.

Frost & Sullivan, the Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.

Growth Opportunities in the South African Patient Monitoring Market M1A6

 
 
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Patient Monitoring Market Presents Opportunities in South Africa

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Publisher Contact: Patrick Cairns 
+27 18 468 2315 patrick.cairns[.]frost.com
 
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