Pune, India, July 15. 2022 (GLOBE NEWSWIRE) — The world healthcare PPE market the size stood at USD 49.91 billion in 2021. The market may grow from USD 22.66 billion in 2022 to USD 30.28 billion by 2029 at a CAGR of 4.2% during the period of forecast. Fortune Business Insight™ elaborated on these contributions in its latest research report, titled, “Healthcare Personal Protective Equipment (PPE) Market, 2022-2029”
According to an analysis, the growing footprint of medical artificial intelligence could encourage large companies to expand their portfolios. The healthcare sector could be the main beneficiary of AI to streamline workflow. To illustrate, in 2020, iFlytek collaborated with the Chinese Academy of Sciences to develop an AI-based COVID-19 diagnostic platform. The company says the system can read and assess a patient’s CT scans in three seconds.
Key Players Covered in the Healthcare PPE Market Report:
- Honeywell International Inc. (USA)
- 3M (USA)
- ANSEL LTD. (Australia)
- Alpha ProTech (Australia)
- Superior Gloves (Canada)
- Medline Industries, Inc. (USA)
- Cardinal Health (USA)
- DuPont (USA)
- Kimberly-Clark Corporation (USA)
- Sterimed Group (India)
- Medisca Inc. (Canada)
- Moldex-Metric (US)
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Report Scope and Segmentation:
|Market size value in 2021||$49.91 billion|
|Revenue forecasts in 2029||$30.28 billion|
|Rate of growth||CAGR of almost 4.2% 2022-2029|
|Historical years||2018 – 2020|
|Forecast years||2022 – 2029|
|Segments Covered||By product type, by application and by end use|
|Forecast units||Value (USD billion) and volume (units)|
|Quantitative units||Revenue in USD Million/Billion and CAGR from 2022 to 2029|
|Regions covered||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa, and Rest of the World|
|Countries covered||United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others|
|Number of companies covered||Honeywell International Inc., 3M, ANSELL LTD., Alpha ProTech, Superior Gloves, Medline Industries, Inc., Cardinal Health, DuPont, Kimberly-Clark Corporation, Sterimed Group, Medisca Inc, Moldex-Metric|
|Report cover||Market Growth Drivers, Restraints, Opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Regulatory Landscape, Market Attractiveness Analysis by Segments & Region, Market Share Analysis business and analysis of the impact of COVID-19.|
|Scope of customization||Take advantage of personalized purchasing options to meet your exact research needs.|
Protective clothing will expand with growing demand for isolation gowns and suits
On the product side, the market is segmented into protective clothing, gloves, and eye and face protection. The protective clothing segment is sub-segmented into isolation gowns, coveralls and others. The Gloves segment is subdivided into Surgical and Examination. The eye and face protection segment is sub-categorized into safety glasses, face masks and others. The protective clothing segment will witness notable growth owing to the growing demand for isolation gowns, aprons, and coveralls.
Healthcare facilities will remain dominant with a growing need for medical gloves
With respect to end-user, the market is divided into consumer, healthcare facility, and others. The healthcare facility segment will remain dominant due to the growing need for latex, nitrile and vinyl medical gloves.
The report provides a global view of market size, share, revenue, and volume. He did a thorough SWOT analysis. Additionally, qualitative and quantitative assessments provided an overall view of the market. Primary interviews validate assumptions, conclusions, and prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers and journals. The research report also delves into pre and post COVID-19 analysis to provide a comprehensive perspective of the market.
Drivers and Restrictions
Strong demand from healthcare sector to drive industry growth
The healthcare PPE market share will witness an upward trajectory on the back of robust demand from healthcare facilities. Major players have focused on bolstering their product offerings in face shields, face masks, gloves, and gowns. To illustrate, the production of N95 respirators at 3M would have reached 1.1 billion per year. Growing demand for hand protection, respiratory protection and personal protective equipment for healthcare will meet industry forecasts. Additionally, stringent government standards and a growing concern for health and safety will compel end users to invest in PPE products. However, the possibility of skin damage and the increase in cases of skin allergies could hamper the growth of the industry.
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North America will witness investment aplenty with bullish investment in face masks
Industry participants expect the United States and Canada to provide lucrative opportunities through increased awareness of the use of face masks, isolation gowns and safety gloves. Strict government regulations amid the onslaught of the COVID-19 outbreak have sparked the demand for PPE kits. To illustrate, in May 2020 3M was planning to triple production of N 95 masks, the company planned to produce 96 million respirator masks in the US production facility by October 2020.
The growth of the Asia-Pacific healthcare PPE market will be pronounced due to the growing demand for gloves, face masks and coveralls. For example, the surge in COVID-19 cases in China and India has played a crucial role in increasing the demand for PPE kits. Rising safety standards and improved hygiene in healthcare facilities bode well for regional growth.
Stakeholders predict that the growth of the European market will be high owing to the growing need for PPE products in Spain, UK, and Italy, among others. For example, in April 2020, UNICEF Spain reportedly donated approximately 418,000 face masks to Spain to help overcome the pandemic.
Stakeholders invest in mergers and acquisitions to boost portfolios
Major players could inject funds into mergers and acquisitions, product rollouts, technological advancements and R&D activities. Additionally, significant companies could invest in innovations and product offerings in the coming period.
Find out before you buy this report:
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- Emerging trends
- key ideas
- Main emerging trends – for main countries
- Regulatory analysis
- Latest technological advances
- Porter’s Five Forces Analysis
- Recent Industry Developments – Policies, Partnerships, New Product Launches and Mergers & Acquisitions
- Qualitative Insights – Impact of COVID-19 on the Global Healthcare Personal Protective Equipment (PPE) Market
- Supply chain challenges
- Measures taken by government/companies to overcome this impact
- Potential opportunities due to the COVID-19 outbreak
- Value chain analysis
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Development of key industry
- May 2021 – Medline announced an injection of $1.5 billion in new distribution facilities, manufacturing capabilities and information technology upgrades in the first three years of the Healthcare Resilience Initiative.
Read related information:
protective clothing market Share, Industry Forecast 2029
Personal Protective Equipment (PPE) Market Size Share, Industry Forecast 2029
face masks market Share, Industry Forecast 2029
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