World Personal Protective Equipment (PPE) Market Growth, Trends and Forecasts - Market Forecast to Grow at a CAGR of 7.8% During 2020-2025
DUBLIN, June 9, 2020 /PRNewswire/ -- The "Personal Protective Equipment Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
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The personal protective equipment market is expected to grow at a CAGR of 7.8% over the forecast period 2020-2025. The increasing number of COVID-19 cases, along with the rising industrial awareness of employee protection at the workplace, are the major factors driving the growth of the personal protective equipment market. Moreover, the development of better and improved quality of pharmaceutical drugs in clinical labs has increased the requirement of personal protective equipment (PPE) in the healthcare sector.
The Asia-Pacific region is experiencing a sudden increase in the demand for PPE kits owing to the rapid spread of the COVID-19 virus. This region accounts for the largest infected people due to which PPE kits are being procured for frontline workers, along with workers working in various industries. Companies like Ford have restarted their production post lockdown in may and have provided PPE kits to each of their workers.
Moreover, surging demand, partly joined with panic buying, hoarding, and misuse of personal protective equipment (PPE), has disrupted global supplies and risked lives across the world. The World Health Organization estimates that 89 million medical masks are required for the COVID-19 response each month, along with 76 million examination gloves and 1.6 million medical goggles. The WHO also estimates that the industry must increase manufacturing by 40% and urges governments to act quickly to boost supply and is expected to fuel the PPE market in a short duration.
Increasing investment in research and development of vaccines against infectious or novel diseases is expected to fuel the demand for the market. It protects healthcare personnel from contagious disease exposures in the workplace, such as research labs, ICUs, and operation theatres, and is expected to experience continual growth in the future. Moreover, the Occupational Safety and Health Administration (OSHA) has also issued the regulations for workplace health and safety of the healthcare personnel from exposure to bloodborne pathogens and Mycobacterium tuberculosis. However, under OSHA's General Duty Clause, PPE is required for any potential infectious disease exposure. Employers must provide their employees with appropriate PPE and ensure that PPE is disposed of or, if reusable, that it is properly cleaned or laundered, repaired, and stored after use. Rising cases of COVID-19 has rapidly increased the demand for PPE across the world.
North America is experiencing industrialization at expanding pace that has led to an increase in the number of manufacturing procedures and protocols several proportions due to which personal protective equipment companies are focusing on designing unique protective wear to ensure optimum safety for workers. As the manufacturing sector involves several primary and auxiliary processes for welding and metal manufacturing, workers are often exposed to an environment that can result in worksite accidents. According to the Bureau of Labor Statistics (BLS) reported 5,147 workplace fatalities in the US in 2017. Among these fatalities, 887 were due to fatal falls, which is the highest level reported in the 26-year history of the Census of Fatal Occupational Injuries.
The personal protective equipment market is concentrated and is dominated by a few major players like 3M Company, Honeywell International, Inc., Alpha Pro Tech, Ansell Ltd., and Avon Protective Systems. These major players, with a prominent share in the market, are focusing on expanding their customer base across foreign countries. However, with technological advancements and product innovations, mid-size to smaller companies are growing their market presence by securing new contracts and by tapping new markets.
This spring, The Neenan Company teamed up with Liberty Common High School (LCHS) to help address the shortage of medical equipment created by the COVID-19 pandemic. Using LCHS' 3D printing studio, volunteers from both organizations have created more than 800 face shields and 600 ear guards to support increased demand for personal protective equipment (PPE) at frontline healthcare facilities.
The Ontario government is investing USD 2.8 million in manufacturers to ramp up production for PPE to help frontline workers and communities stay safe during the COVID-19 pandemic.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Initiatives Taken by the Government and the NGOs to Spread the Awareness of Employee Protection
4.2.2 Outbreak of Coronavirus Across the World Has Increased the Utilization of Protection Equipment
4.3 Market Restraints
4.4 Value Chain / Supply Chain Analysis
4.5 Porters 5 Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 PESTLE Analysis
4.7 Impact of COVID-19 on the PPE Industry
5 MARKET SEGMENTATION
5.1 Product Type
5.2 Application
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 3M Company
6.1.2 Honeywell International Inc.
6.1.3 Ansell Ltd.
6.1.4 Alpha Pro Tech, Ltd.
6.1.5 Avon Protective Systems, Inc
6.1.6 JAL Group France SAS
6.1.7 Cofra Srl. Cofra Srl
6.1.8 Oftenrich Holdings Company Limited
6.1.9 UVEX Safety Group Gmbh
6.1.10 Rock Fall Limited
6.1.11 MSA Company
6.1.12 Polison Corporation
6.1.13 Gateway Safety, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ekc4x6
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