COVID-19 Personal Protective Equipment Market is estimated to be US$ 178.3 Billion by 2029 with a CAGR of 11.5% during the forecasted period

[Amar Yadav]

COVID-19 Personal Protective Equipment Market accounted for US$ 60.4 billion in 2019 and is estimated to be US$ 178.3 billion by 2029 and is anticipated to register a CAGR of 11.5%
The report " COVID-19 Personal Protective Equipment Market, By Product Type (Isolation Gowns, Gloves, Face Masks, and Respirators), By Application (Hospitals, Clinics, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
Key Highlights:
• In May 2020, Honeywell International Inc. announced that it will build a new production line capable of producing up to 4.5 million FFP2 and FFP3 disposable face masks per month at its Newhouse site in Scotland, United Kingdom. These masks will assist the U.K. government’s response to the coronavirus (COVID-19) outbreak.
• China is the world's leading producer of PPE body coveralls, crucial to safeguard against the COVID-19 pandemic. India has become the world’s second-largest manufacturer of personal protective equipment (PPE) body coveralls within a short time span. Companies like Alok Industries, JCT Phagwara, Gokaldas Exports, and Aditya Birla are some of the domestic PPE kits manufacturers. Over 600 companies in the country are certified to manufacture PPEs
Analyst View:
The sudden growth in the COVID-19 pandemic has imposed a significant impact on the personal protective equipment market growth across the globe. The increasing application of strict regulations related to the safety of employees in the workspace is impressively heading towards the overall market growth throughout these unprecedented times. Additionally, PPE companies are involved in the manufacturing of personal protective products to help people prevent this deadly disease. These factors are anticipated to drive the demand for PPEs worldwide, throughout this pandemic period.
Besides the need for PPE for healthcare professionals focusing on developing a vaccine for the lethal virus, there is also an urgent need for protective equipment manufacturers to develop and introduce safer and more cost-effective products in the market. Among the types of personal protective equipment required for healthcare professionals dealing with coronavirus, four major types include isolation gowns, respirators, gloves, and face masks. Healthcare-related organizations and respective regulatory bodies are working toward improving the safety standards and awareness related to the effects of COVID-19 in their respective countries. Such efforts will fuel the demand for personal protective equipment and enhance the revenue growth of the global personal protective equipment market over the forecast period.
Key Market Insights from the report:
The global COVID-19 personal protective equipment market accounted for US$ 60.4 billion in 2019 and is estimated to be US$ 178.3 billion by 2029 and is anticipated to register a CAGR of 11.5%. The market report has been segmented on the basis of product type, application, and region.
• By product type, the isolation gown segment is projected to dominate the target market over the forecast period globally. This is mainly attributed due to increasing concern regarding employee safety and initiatives for reducing injury rates in industrial and commercial sectors.
• By application, the hospital segment is projected to dominate the target market over the forecast period globally due to the growing number of cases suffering from coronavirus outbreak.
• By region, North America and Europe are vital markets and are dominating in terms of revenue share in the global personal protective equipment market, due to the presence of major personal protective equipment manufacturers in countries in these regions.
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Competitive Landscape:
The prominent player operating in the global COVID-19 personal protective equipment market includes 3M, Kimberly-Clark, Unicharm Corporation, Honeywell International Inc., KOWA American Corporation, UVEX Group, JIANGSU Te Yin Imp. & Exp. Co. Ltd., Hakugen Co. Ltd., Shanghai Dasheng Health Products Manufacturing Co. Ltd., Japan Vilene Company Ltd., and Totobobo Pte. Ltd.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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