Impact of COVID-19 on Personal Protective Equipment Market Share, Size and Demand, Concludes FMI

 The global protective equipment market is expected to be worth $55.6 billion in 2022. However, with a growing emphasis on improving worker safety across various industries, overall sales of personal protective equipment are expected to rise at a healthy CAGR of around 6.3 % between 2022 and 2032, totaling more than US$ 96.4 billion by 2032.

PPE stands for personal protective equipment, which includes items like protective clothing, helmets, goggles, gloves, face shields, masks, and other similar gear that shield the wearer’s body from harm or infection while at work. They are now in great demand across a range of industries as tools for enhancing workplace safety.

Supplies are stagnating despite significant efforts to boost production capacity, and the market situation has worsened, primarily as a result of the prolonged shutdown of factories in China. The World Health Organization (WHO) has additionally cautioned that severe and precipitous disruptions in the supply of PPE on a global scale, brought on by misuse, panic buying, and stockpiling, are putting the lives of healthcare professionals and patients in danger. The new coronavirus disease is spreading quickly in terms of cases.

As the inappropriate use and supply shortage of PPE continues, the WHO has put forth several strategies to facilitate optimal PPE availability and normalize the supply chain. Using telemedicine to evaluate suspected cases of COVID-19 and physical barriers to reduce exposure and restricting healthcare workers who are not involved in direct care from coming in contact with COVID-19 patients are likely to minimize the need for PPE. The rationalized use and distribution of PPE along with rapid response to curb the spread of disease is thus expected to bridge the widening gap between supply and demand for PPE.

U.S. Urges Nations to Ramp Up Production of PPE, China to Lift New Export Restrictions on Medical Supplies

North America and Europe remained key markets for personal protective equipment for both medical and industrial applications with major players expanding their presence in developing Asian Pacific countries such as China and India. Rapid industrialization, low operation cost and cheap labor in these countries have been securing a steady supply chain for global market stakeholders.

However, the scenario is drastically changing amidst the outbreak of coronavirus and subsequent lockdown of factories. As the U.S. is facing a historic surge in patients seeking care of COVID-19, the government is using federal powers to force local companies to manufacture, urging other countries to accelerate the production of PPE, and seeking to purchase any quantities major PPE-producing countries can spare.

China’s new restrictions on coronavirus-related medical supplies including personal protective equipment — that allows only those manufacturers with accreditation to sell their products with China to export to other countries — came amid growing concerns about quality of various Chinese medical products. However, the country promises to lift the restrictions as several countries are still battling COVID-19 with massive shortfall of essential medical supplies. This, in turn, is expected to influence the growth prospects of the global personal protective equipment market.

COVID-19 Redirects the Application Scope of Personal Protective Equipment

Governments and health organizations worldwide are increasingly collaborating with manufacturers and suppliers to meet the PPE supply-demand gap. However, these manufacturers are facing significant hurdles due to unavailability of raw materials and outbound logistics amidst expansive lockdown of airlines and restrictions on export activities.

In addition to taking critical decisions to normalize the situation, manufacturers are currently stopping the production of industrial PPE such as industrial safety, chemical resistant gloves, and welding helmets and focusing on products for medical applications. However, innovations are on the horizon for smart personal protective equipment to deliver real-time information, minimize exposure to hazards, and enable adjustments with internal and external conditions. Post supply chain normalization, the demand for PPE will continue to grow in line with increasing mining activities and infrastructural development.

PPE Market — Competitive Landscape

A section of the FMI’s report covers detailed profiles of key players active in the personal protective equipment (PPE) market wherein product portfolio, new launches, development strategies, and regional footprint have been provided. Some of these players include 3M Company, Rahman Group, Golden Chang, Oftenrich Holdings Co. Ltd, JSP Ltd., Interspiro, Honeywell Life Safety, Ansell Healthcare Products LCC, Gateway Safety Inc., Wells Lamont Industry Group, Avon Rubber p. i. c., JAL Group, COFRA Holding AG, Avon- ISI, Alpha Pro Tech Ltd., Eurodress GmBH, Bekina NV, Jallatte Group, and Z and V Group.

Access Full Report: https://www.futuremarketinsights.com/reports/personal-protective-equipment-market