Pune, July 23, 2020 (GLOBE NEWSWIRE) -- The global Healthcare Personal Protective Equipment (PPE) Market for COVID-19 is projected to showcase remarkable growth in the coming years on account of the widespread cases of the coronavirus pandemic and the rising importance given to personal and surroundings safety. PPE for healthcare includes products such as gloves, face masks, coveralls, face shields, and others. They help us to protect the patient and medical professionals from getting infected. A recent report by Fortune Business Insights, titled, “Healthcare Personal Protective Equipment (PPE) Market for COVID-19 Size, Share & Industry Analysis, By Product (Eye & Face Protection {Safety Spectacles, Safety Goggles, Face Mask and Face Shield}, Protective Clothing {Isolation Gowns, Coveralls, and Others}, Hand Protection/Safety Gloves, and Respiratory Protection/N95 Respirators) By Application (Hospitals, Clinics, and Others), and Regional Forecast, 2020-2027,” states that the market size was USD 4.66 billion in 2019 and is expected to reach USD 25.66 billion by the end of 2027. The forecast period is set between 2020 and 2027, and the market will exhibit a CAGR of 11.8%.
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The significant impact of COVID-19 is devastating. Most countries are adopting lockdown as a temporary remedy to fight this pandemic while the others are investing massively on the research and development of a vaccine for the same. Most businesses are at a temporary halt or are operating amidst the four walls of their homes, trying to generate meagre revenues. We soon hope to overcome this pandemic and get our healthy lives back. Fortune Business Insights is offering special reports based on the impact of coronavirus on various markets. These reports will help investors accordingly strategize their plans to generate significant revenues in the coming years.
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What are the Objectives of the Report?
The report is based on qualitative and quantitative analysis of the market and its prime growth trajectories. This includes the growth drivers, restraints, upcoming opportunities, and obstructions. The report also highlights the critical segments of the market and lists out the names of the leading segment with estimated market figures and attributed factors. Furthermore, it provides the names of the leading players and the significant strategies adopted by them to gain dominance in the market. For more information on the report, refer to the company website.
Drivers & Restraints-
Current Outbreak of COVID-19 Pandemic to Propel Growth
The healthcare industry is facing a significant boom on account of the increasing cases of coronavirus. The impact of the COVID-19 pandemic is propelling the use of sanitized products such as gloves, masks, goggles, face shield, and others. This stands as a significant factor promoting the global personal protective equipment market growth. Additionally, the advent of artificial intelligence and cut-edge technologies in the healthcare sector is also adding impetus to the market. Furthermore, the increasing importance of personal hygiene and safety will aid in the expansion of the market in the coming years.
On the negative side, the side effects such as skin rashes, nose bridges, and others as a result of long term use of PPE products such as N95 mask, gloves, and goggles, may challenge the growth of the market. Nevertheless, the increasing efforts by various players and the governments’ support to find out the antidote of coronavirus are likely to create better growth opportunities for the market in the forecast period.
Segment:
Protective Clothing Segment Held Dominance Accountable to its Increasing Demand
Based on segmentation by product, the protective clothing segment earned 37.1% PPE market share in 2019 and emerged dominant. This is attributable to the fact that the coveralls help to protect the entire body, including the most exposed parts such as feet, lower legs, back and head. Additionally, the Food and Drug Administration also approved the classification of several protective clothing into three sections, namely, non-surgical gowns, surgical gowns, and surgical isolation gowns.
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Regional Analysis-
North America Emerged Dominant Attributed to Stringent Rules Imposed on Mandatory Use of Safety Equipment
Region-wise, North America earned a revenue of USD 1.71 billion in the year 2019 and received the highest personal protective equipment (COVID-19) in healthcare market share. The growth of this region is owing to the mandatory use of PPE products that have been strictly imposed by the U.S. and Canada governments. As of June 02, 2020, an estimated 1,859,597 coronavirus cases were confirmed in the U.S. alone. The COVID-19 pandemic has propelled the need for respirators and masks, thereby boosting the regional market growth.
On the other side, the market in Asia Pacific will register the fastest CAGR during the forecast period on account of the increasing number of coronavirus cases in nations, namely, China, Japan, India, South Korea, and others. Additionally, China is the leading producer of PPEs, such as coveralls, masks, gloves, and others.
Competitive Landscape-
Players Focusing on Strategic Alliances to Gain Competitive Edge in Market
Most of the players of the global PPE market are engaging in strategic collaborations to maintain their mark in the competition. Currently, players such as Alpha ProTech, Honeywell, 3M, Du Pont, and Ansell are the dominant players with 55% share. This is owing to the geographical presence of these companies and their diverse portfolios.
Major Industry Developments of the Market for Personal Protective Equipment (COVID-19) in Healthcare include:
March 2020 – Honeywell declared the expansion of the production of the N95 face mask by adding new manufacturing units called the Honeywell Aerospace site. This new site will manufacture 20 million masks on a monthly basis to fight against the coronavirus.
May 2020 – A new store for selling products related to coronavirus safety called the “COVID-19 Supplies Store” was opened by Amazon on the e-commerce platform in India. This will help the institutional buyers such as nursing homes, hospitals, government agencies, NGOs, and others to purchase a bulk amount of COVID-19 protection products with GST invoices.
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List of the Leading Companies Operating in the Healthcare Personal Protective Equipment for COVID-19 Include:
- ANSELL LTD. (Australia)
- Honeywell International Inc. (U.S.)
- Alpha ProTech (U.S.)
- 3M (U.S.)
- DACH Schutzbekleidung GmbH & Co. KG (Germany)
- Supermax Corporation Berhad (Malaysia)
- Semperit AG Holding (Austria)
- Lakeland, Inc (U.S.)
- Cofra S.r.l (U.S.)
- Uvex Group (Germany)
- Mallcom Limited (India)
- Bullard (U.S.)
- Udyogi Plastics Pvt. Ltd. (India)
- Winner Medical Group Inc. (China)
- IREMA Ireland (Ireland)
- Japan Vilene Company, Ltd. (Japan)
- Suzhou Sanical Protective Product Manufacturing Co., Ltd (China)
- JIANGSU TEYIN IMP. & EXP. CO., LTD (China)
- Medline Industries, Inc. (U.S.)
- Cardinal Health (U.S.)
- YTY Group (Malaysia)
- Medicom (Canada)
- HL Rubber Industries Sdn Bhd (HLRI) (Malaysia)
- Kossan Rubber Industries Bhd (Malaysia)
- JIANGSU JAYSUN GLOVE CO., LTD (China)
- Bluesail Group Co Ltd (China)
- JIANGSU CUREGUARD GLOVE CO., LTD (China)
- Dasheng Health Products Manufacturing (China)
- Zhanjiang Jiali Gloves Products Co. Ltd (China)
- Rubbercare Protection Products Sdn Bhd (China)
- Other players
Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Key Developments: New Product Launch, Acquisition, Collaboration, etc.
- Coronavirus Impact of COVID-19 on Global PPE Market in Healthcare
- Supply Chain Challenges
- Impact on Price
- Supply-Demand Analysis
- Impact on Raw Material Supply
- Impact on downstream demand
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Manufacturing Cost Analysis
- Value Chain Analysis
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