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The global personal protective equipment market was valued at $43.9 billion in 2018 and is anticipated to surpass $93.5 billion by 2026, at a CAGR of 10.0%. Personal protective equipment (PPE) is designed for the protection of the wearer from the spread of infectious diseases or injury.
Personal protective equipment includes items such as protective clothing, gloves, helmets, goggles, facemasks, and/or respirators or other equipment. The extensive growth of the market is mainly attributed to the growing emphasis on personal safety since the equipment acts as a barrier between infectious materials such as viral and bacterial contaminants and safeguards the health of workers. In 2020, the market is expected to witness a positive impact due to the extensive use of preventive measures for the minimization of the impact of Coronavirus disease spread.
MARKET STATS
| CAGR Pre COVID-19 |
CAGR Post COVID-19 |
Realtime BPS | *Estimated market Size, 2020, Pre COVID |
**Real Time market Size, 2020, Post COVID |
|---|---|---|---|---|
| 6.7% | 10.0% | 337 | USD 51.8 Billion | USD 53.2 Billion |
* The numbers are estimated prior to the COVID-19 Pandemic in 2020
** The data will vary depending on upcoming developments announced by the operating players
KEY ASPECTS OF THE INDUSTRY
BOOMERS AND DECLINERS
The extensively growing emphasis on the importance of workplace safety across developed as well as developing countries is anticipated to drive the growth of the global personal protective equipment market during the period of forecast. Furthermore, the huge growth of the global personal protective equipment market is majorly attributed to the military and law enforcement, rising demand for respiratory equipment in the mining sector, emergency response, increasing adoption in healthcare, and fire services. These factors may create a significant impact on the growth of the global personal protective equipment market.
Moreover, notable players are emphasizing highly on scientific and technological advances to improve the manufacturing processes of the industrial sector. For instance, the Paulson Company, manufacturer of the most reliable safety protective equipment, has manufactured smarter designs that account for the comfort of workers and provide greater freedom of movement. In addition, this company has also designed an advanced new eye protection solutions, an anti-fog technology, which provides a huge benefit for labor who require a clear field of vision. These factors may further drive the growth of the global personal protective equipment market, during the forecast period.
CONSTRUCTING BRIDGES
APPLYING WISDOM
In the last several months of 2019, the COVID-19 outbreak emerged as an unprecedented global health emergency. All governments across the economies implemented lockdowns in order to curb the communal spread of the coronavirus. Moreover, this lockdown has led to an enormous decline in industrial and business operational processes. Contrary to this, the significant role of PPE kit in preventing transmission of the Coronavirus across the world is expected to boost the demand for the personal protective equipment in the global market. For example, as per the estimation of the World Health Organization (WHO), the manufacturing industry and governments should have to increase the production of PPE kit by 40% to fulfill rising global demand.
In addition, many companies and government bodies are focusing highly on product development and strategic partnerships to defeat against COVID-19 crisis. For instance, the Defence Research and Development Organization (DRDO) is developing and sharing breakthrough technologies at affordable cost with the private sector for the mass production of critical personal protective equipment which are identified by the government of India. Furthermore, the supporting legal framework of the governments across the countries is expected to surge the global demand for the personal protective kit, in the global market.
MANAGING SUCCESS AMIDST
THE PANDEMIC STRESS
Moreover, as per the report published by Research Dive, it is expected that the global market for the personal protective equipment market will witness substantial growth after the COVID-19 pandemic crisis. In the midst of the COVID-19 pandemic, the demand for personal protective equipment has increased due to it significantly reduces the risk of viral transmission of COVID-19. Moreover, due to the COVID-19 pandemic crisis, the majority of the countries across the world, governmental institutions are highly preferring for hygiene and safety workplace; this will make a significant impact on the growth of personal protective equipment, in the global market, even after this crisis situation.
In addition, to strengthen the footprint in the global market, as well as to gain the trust gain of employees, suppliers & clients of companies, various leading players are opting for multiple business strategies such as product innovations, strategic collaboration. For instance, In order to fulfill the sudden demand for personal protective equipment, significant medical device ventures like GE healthcare has collaborated with both non-medical and medical manufacturers. Such factors will significantly help the startups as well as established players to grow in this market.
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- Long-term and Short-term impact of Covid-19 on the market
- Cascading impact of Covid-19 on the , due to the impact on its extended ecosystem
- Understanding the market behaviour pre- and post-Covid-19 pandemic
- Strategic suggestions to overcome the negative impact on your business or turn the positive impact into an opportunity
