Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 21.16 Billion | USD 31.45 Billion | 4.5% | 2023 |
According to a report from Zion Market Research, the global Medical Protective Equipment Market was valued at USD 21.16 Billion in 2023 and is projected to hit USD 31.45 Billion by 2032, with a compound annual growth rate (CAGR) of 4.5% during the forecast period 2024-2032.
This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Medical Protective Equipment Market industry over the next decade.
Medical protective equipment refers to protective clothing such as such as gloves, masks, gowns and goggles worn by healthcare personnel to treat patients with communicable diseases to protecting themselves and others. Medical personnel, such as public health workers, nurses, doctors, as well as people entering infected areas use them. It is utilised to maintain a barrier from respiratory secretions, bodily fluids, and blood.
One of the prime factors driving the growth of this market at the moment is the Covid-19 pandemic. Medical protective equipment is playing a crucial role in protecting the frontline workers such as doctors and nurses from getting exposed to infected patients. Due to the unprecedented demand, healthcare systems in several countries are offshoring production of medical protective equipment to low cost suppliers. E-commerce of medical protective equipment has proliferated their sale among households and made it easier to access for majority population. The market is expected to benefit from such technological developments.
The medical protective equipment market has been greatly impacted by the outbreak of Covid-19. The novel coronavirus has skyrocketed the need and demand for medical protective equipment in the healthcare industry as well as consumer households and other industries. Medical protective equipment has emerged as an indispensable tool in the fight against this condition and to keep infection rates low. The World Health Organization (WHO) has also urged governments and businesses to act quickly to boost the production of masks, respirators, and gloves in order to meet worldwide demand.
The outbreak of the Covid-19 pandemic and growing necessity and awareness about protection from spread of infection is fueling the growth of this market. Frontline workers and first respondents such as paramedics are now required to follow strict protocols and wear medical protective equipment such as gloves, masks and full body gowns while treating infected patients. Since medical protective equipment is the only effective gear to control the spread of infectious diseases in the healthcare space, the market is expected to grow at a significant rate over the forecast period. Furthermore, growing concern for worker safety and health in manufacturing and other industries and increased awareness about protection from infectious diseases is expected to boost this market.
Report Attributes | Report Details |
---|---|
Report Name | Medical Protective Equipment Market |
Market Size in 2023 | USD 21.16 Billion |
Market Forecast in 2032 | USD 31.45 Billion |
Growth Rate | CAGR of 4.5% |
Number of Pages | 150 |
Key Companies Covered | 3M, Hartalega Holdings, Ansell Limited, DuPont, Cardinal Health, Kimberly-Clark Corporation, Honeywell International Inc., Top Glove Corporation Bhd, Dynarex Corporation, Medline Industries Inc. and O&M Halyard Inc |
Segments Covered | By Product, By End User and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Hospitals and Clinics segment held a share of over 50.9% in 2020 owing to the rapidly rising corona virus cases globally. Medical protective equipment is crucial in curbing the spread of germs and viruses, thus making hospitals and medical facilities the primary consumers of this market. With the outbreak of the Covid-19 pandemic healthcare systems all over the world saw a sudden rise in infected patients causing a shortage in critical medical supplies such as masks and protective gowns.
Respiratory Protection segment will grow at a CAGR of over 10.9% from 2024-2032. This is mainly attributable to the outbreak of the Covdid-19 pandemic. Being a respiratory disease, as the COVID-19 pandemic revolves around nasal and oral protection, respiratory protective equipment such as face masks and respirators have emerged as an indispensable tool in the fight against this condition and to keep infection rates low. Their extensive use by people all over the world and the virus showing little signs of diminishing, this segment is expected to witness a steady growth in the future.
Some of key players in automated sortation system market are 3M, Hartalega Holdings, Ansell Limited, DuPont, Cardinal Health, Kimberly-Clark Corporation, Honeywell International Inc., Top Glove Corporation Bhd, Dynarex Corporation, Medline Industries Inc. and O&M Halyard Inc. among others.
Key players all over the world are ramping up production of medical protective equipment in order to meet the sudden surge in global demand due to Covid-19. 3M for instance, increased the production of surgical masks and respirators by 35% to 40% in India. It also announced in May 2020 its plan to triple the production of N95 masks in the US.
The North American region held a share of around 28.4% in 2020. This is attributable to due to the on-going pandemic and rising awareness about health and benefits of using protective equipment such as face masks, gloves and others. Being one of the worst affected regions, there is an increased awareness about proper use of gloves, isolation and usage of face masks to curb the spread of infection. These factors are expected to have a significant impact on the market in North America, with various governments encouraging consumers to practice personal hygiene.
The Asia Pacific region is projected to grow at a CAGR of around 10.8% over the forecast period. Owing to China being the epicenter of the virus followed by a rapid spread in other countries such as India, this region is expected to register the highest growth for medical protective equipment. The rising cases within the region have led to a surge in demand for these products. Rising safety standards and improvements in hygiene across healthcare systems in developing nations such as India and China are also expected to augment growth in this region.
The global Medical Protective Equipment market profiles key players such as:
By Product
By End User
By Region
FrequentlyAsked Questions
Medical Protective Equipment Market size worth at USD 21.16 Billion in 2023
Medical Protective Equipment Market size worth at USD 21.16 Billion in 2023 and projected to USD 31.45 Billion by 2032, CAGR of around 4.5% between 2024-2032.
Some of the key factors driving the global medical protective equipment market growth are to the unprecedented demand, healthcare systems in several countries are offshoring production of medical protective equipment to low cost suppliers. E-commerce of medical protective equipment has proliferated their sale among households and made it easier to access for majority population. The market is expected to benefit from such technological developments.
North America region held a substantial share of the medical protective equipment market in 2020. This is attributable to the presence of major players such as IBM, Microsoft, and Apple, among others. Asia Pacific region is projected to grow at a significant rate owing to the rising demand for medical protective equipment market in developing economies such as China and India.
Some of the major companies operating in the medical protective equipment market are 3M, Hartalega Holdings, Ansell Limited, DuPont, Cardinal Health, Kimberly-Clark Corporation, Honeywell International Inc., Top Glove Corporation Bhd, Dynarex Corporation, Medline Industries Inc. and O&M Halyard Inc. among others.
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