June 30, 2020
According to recent study titled ‘Global Medical Personal Protective Equipment (PPE) Market Analysis By Product Type, By End User, By Region, By Country (2020 Edition): Market Insights, COVID-19 Impact, Competition and Forecast (2020-2025)’, available with Market Study Report LLC, global medical personal protective equipment (PPE) market was valued at USD 4907.2 million in 2019 and is projected to register an appreciable growth rate through 2025.
Surging cases of transmissible diseases, in tandem with rising prevalence of Hepatitis and Influenza, as well as increasing elderly population base who are more prone to such diseases are fueling the growth of global medical personal protective equipment (PPE) market. Further, inflow of investments towards integration of advanced technology to provide latest & high-quality products to hospitals and healthcare units is expected propel the industry to new heights. Emergence of COVID-19 pandemic will also impel the market outlook.
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Based on the product terrain, hand protection equipment segment is anticipated to attain a significant portion of the global medical personal protective equipment market share over the forecast duration. Accessibility to a wide variety of PPE primarily made for nurses, doctors and other healthcare workers is driving the segment growth. Moreover, collaborations among manufacturers, healthcare professionals and hospitals to cater to specific demand and requirements, along with escalating number of COVID-19 patients is positively impact the industry outlook.
Elaborating on the end user spectrum, hospitals segment currently holds the largest share of medical personal protective equipment market, followed by ambulatory surgical centers, primarily due to the proliferating demand for PPEs from healthcare institutes which are undertaking treatment of COVID-19 patients. Increasing focus among companies towards improving production capacity to fulfill the unparalleled demand for medical PPE, along with government partnerships with manufacturers for sufficient supply of required products to healthcare settings is boosting the industry growth.
As per the regional analysis, North America medical PPE market is slated to witness remarkable growth during the study period, trailed by Europe and Asia Pacific. Presence of several leading players who are upscaling their production capacity, burgeoning coronavirus patients in the United States, and focus of manufacturers towards offering varied medical PPE products are accelerating the industry growth in North America.
Some of the renowned players in global medical personal protective equipment market are Stryker Corporation, Dentsply Sirona Inc., 3M, Cardinal Health, and Cantel Medical Corporation.