Global medical protective equipment market will see a major recovery in 2022 and beyond, amid the global COVID-19 pandemic, reaching a projected valuation of over US$41.6 billion through 2030. The growing pandemic of community infections due to the emergence of new pathogens is expected to increase the demand for medical protective equipment in the global market. This growing number of community and hospital acquired infections will drive the market growth in the near future, according to a new Future Market Insights (IMF) report.
The major manufacturers operating in the market offer a wide range of products such as medical masks, gloves, protective clothing, gowns and other products. Due to the unavailability of treatment for new pathogen infections and a significant lag time between the emergence of a new pathogen and the development of an effective treatment, there has been an increasing demand for protective equipment, creating an absolute growth opportunity for the medical protective market.
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The Covid-19 pandemic crisis is driving demand
The sudden virus pandemic situation has created a huge gap between supply and demand for medical protective equipment. Recently, in December 2019, the Covid-19 pandemic has emerged in all parts of the world. This highly communicable respiratory disease has dramatically increased the unmet demand for medical masks, gloves and other protective equipment.
For example, according to a WHO study, the WHO advised the personal protective equipment industry and governments to increase manufacturing by 40% to meet the growing global demand for personal protective equipment ( PPE) in the context of the global Covid-19 epidemic.
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Key Takeaways from the Medical Protective Equipment Market Research
- The medical gloves segment is expected to account for more than 40% of the medical protective equipment market revenue share.
- Due to the use of gloves in the prevention of primary infections and to perform surgical procedures by healthcare workers, the medical gloves segment is the most dominated product type.
- Disposable medical protective equipment will gain more than 75% market share in the medical protective equipment market throughout the forecast period.
- The hospital and NGO/government organization segments are collectively expected to gain more than 60% market share in the medical protective equipment market during the period 2022-2030.
- Europe is the highest revenue generating market by region due to an aging population and high rate of new pathogen infections. North America is expected to offer lucrative opportunities due to a higher incidence of new infections and a growing volume of innovative surgical procedures.
Disruptive unmet demand for medical gloves and N95 respirators, and WHO urgency for effective prevention of new pandemic pathogen outbreak is expected to fuel the growth of medical protective equipment market.
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Preferred manufacturing collaborations to meet massive demand growth
Major manufacturers in the medical protective equipment market are largely focusing on expanding their manufacturing capabilities amid the disruptive demand. The government is actively encouraging local manufacturers to prioritize an emergency demand for medical protective equipment in public hospitals and other health facilities.
For example, in March 2020, 3M, the US-based global leader in medical protective equipment, collaborated with giant automaker Ford to turn an automobile manufacturing plant into a ventilator manufacturing plant.
Medical Protective Equipment Market by Category
- Protective clothing
- N95 Respirators
- Surgical masks
- Protective glasses
- Face shields
- shoe covers
- Not disposable
Per end user:
- NGO/government organization
- Ambulatory surgery centers
- Specialized clinics
- Diagnostic and research laboratories
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East and Africa (MEA)
About Future Market Insights (IMF)
Future Market Insights (FMI) is a leading provider of market information and advisory services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, USA and India. FMI’s latest market research reports and industry analysis help businesses meet challenges and make critical decisions with confidence and clarity amidst fierce competition. Our custom and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of analysts led by FMI experts continuously monitor emerging trends and events across a wide range of industries to ensure our clients are prepared for the changing needs of their consumers.
Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.
Future Market Outlook
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