Healthcare Personal Protective Equipment Market to Exhibit 12.4% CAGR and Reach USD 33.4 Billion by 2027; Rising Prevalence of COVID19 Pandemic to Promote Growth, says Allied Market Research
Pune, Maharashtra, India, September 15 2020 (Wiredrelease) Allied Analytics –:Surge in demand for healthcare PPE to protect the healthcare personnels involved in the treatment of Covid-19 patients drives the growth of the global healthcare PPE market. In addition, increase in investment from public and private players in the production of healthcare PPE kit to meet the growing demand supplements the growth of the market. However, negative impact of PPE material on environment hinder the market growth. On the other hand, growing development of healthcare PPE kits based on bio materials is expected to create new opportunities for the market player in the coming years.
According to the report published by Allied Market Research, 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. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
• The Covid-19 outbreak across the globe has created an significant demand for healthcare PPE products such as gloves, face masks, gowns, coveralls, face shields, and goggles.
• Healthcare PPE products in North America and Europe have been outsourced to Asian countries such as China and Malaysia. During the initial stage of coronavirus outbreak, there was a huge demand in China. However, the lockdown resulted in the disruption of supply chain in the country.
• The respiratory protection segment is likely to grow during the COVID-19 pandemic outbreak due to surge in demand for N95 and surgical masks to prevent infection.
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The report offers a detailed segmentation of the global healthcare PPE market based on product, end-user, and region.
Based on product, the protective clothing segment contributed to the largest share in 2019, accounting for more than one-third of the total share, and is estimated to maintain its dominant position during the forecast period. However, respiratory protection segment is estimated to portray the highest CAGR of 14.0% during the forecast period.
Based on end-user, the hospital segment accounted for the largest share in 2019, holding more than two-fifths of the total 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. The report also offers detailed analysis of end users including home healthcare, outpatient/primary care facilities, and others.
Based on region, North America contributed the highest share, accounting for more than one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 13.7% from 2020 to 2027.
Leading market players analyzed in the research include 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., and Medisca Pharmaceutique Inc.
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