The global healthcare PPE market generated $12.9 billion in 2019, and is estimated to reach $33.4 billion by 2027, registering a CAGR of 12.4% from 2020 to 2027.
Key determinants of the market-
Rise in demand for healthcare PPE to protect the healthcare personnel involved in the treatment of Covid-19 patients augments the growth of the global healthcare PPE market. Furthermore, rise in investment from public and private players in the production of healthcare PPE kit to meet the growing demand fuels the growth of the market. Nevertheless, negative impact of PPE material on environment restrains the market growth. Moreover, growing development of healthcare PPE kits based on bio materials is expected to usher a number of opportunities in the near future.
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COVID-19 scenario:
- The novel coronavirus outbreak all over the world has augmented the demand for healthcare PPE products including face masks, gloves, goggles, gowns, coveralls, and face shields.
- North America and Europe have outsourced the PPE products to meet the demand in Asian countries such as China and Malaysia. The preliminary stage of COVID-19 outbreak resulted in increased demand in China. However, the market witnessed supply chain disruptions due to lockdown.
- The surge in demand for N95 and surgical masks to prevent infection is anticipated to contribute for market growth.
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The protective clothing segment to dominate the market in 2019-
Based on product, the protective clothing segment contributed to the largest share in 2019, accounting for more than one-third of the global healthcare PPE market, owing to increase in use of coverall, gowns, and scrubs as a basic requirement for any healthcare personnel or patient. However, the respiratory protection segment is estimated to portray the highest CAGR of 14.0% during the forecast period. This is attributed to rise in the usage of face masks by general public due to the outbreak of COVID-19.
The hospital segment to lead the trail throughout 2027-
Based on end-user, the hospital segment accounted for the largest share in 2019, holding more than two-fifths of the global healthcare PPE market share, and is expected to maintain the largest share throughout the forecast period. Moreover, the same segment is expected to register the highest CAGR of 13.1% from 2020 to 2027. This is owing to easy availability of healthcare insurance services.
North America to rule the roost throughout 2027-
Based on region, North America contributed to the highest share, accounting for more than one-third of the healthcare PPE market in 2019, and will maintain its dominance throughout the forecast period. This is owing to the presence of world-class healthcare systems and stringent regulations for the use of proper PPE in healthcare settings. However, Asia-Pacific is expected to grow at the highest CAGR of 13.7% from 2020 to 2027. This is owing to increase in affordability of primary healthcare services and other healthcare infrastructure investments in the region.
Leading market players
- Med-Con Pty Ltd.
- Ansell Limited
- DuPont de Nemours Inc.
- Cantel Medical Corporation
- Cardinal Health
- 3M Company
- Owens & Minor Inc
- Honeywell International Inc.
- Medline Industries Inc.
- Medisca Pharmaceutique Inc.
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