The size of the global market for protective equipment is anticipated to be over US$ 55.6 billion in 2022. However, with increased attention being paid to enhancing worker safety across a variety of industries, it is anticipated that overall sales of personal protective equipment will increase at a strong CAGR of around 6.3% between 2022 and 2032, reaching more than US$ 96.4 billion by that year.
PPE, or personal protective equipment, refers to tools that protect the wearer’s body from injury or illness while at work. Examples include protective clothes, helmets, goggles, gloves, face shields, masks, and other similar equipment. They are currently in high demand as instruments for improving worker safety across a variety of industries.
Despite major attempts to increase production capacity, supplies are stagnant, and the market situation has gotten worse, particularly as a result of the extended shutdown of plants in China. The World Health Organization (WHO) has also issued a warning that the misuse, panic buying, and stockpiling that are causing significant and abrupt disruptions in the supply of PPE on a worldwide scale are endangering the lives of medical personnel and patients. The latest coronavirus infection is spreading quickly in terms of cases.
The WHO has proposed numerous solutions to enable optimal PPE availability and normalise the supply chain as the inappropriate use and supply shortfall of PPE persist. The use of telemedicine to assess suspected COVID-19 cases, physical barriers to reduce exposure, and preventing healthcare professionals who aren’t directly involved in patient care from coming into touch with COVID-19 patients are likely to lessen the requirement for PPE. Thus, it is anticipated that the growing disparity between PPE supply and demand will be closed by the judicious use and distribution of PPE as well as quick action to stop the spread of illness.
U.S. Urges Nations to Ramp Up Production of PPE, China to Lift New Export Restrictions on Medical Supplies
Major manufacturers are increasing their presence in developing Asian Pacific nations like China and India, although North America and Europe continue to be the two largest markets for personal protective equipment for both medical and industrial uses. These nations’ quick industrialisation, low operating costs, and accessible labour have ensured a reliable supply chain for participants in the global market.
However, the coronavirus epidemic and related factory lockout are radically altering the situation. As the number of COVID-19 patients seeking treatment in the United States rises at an unprecedented rate, the government is using its legal authority to compel local businesses to produce, urging other nations to speed up PPE production, and attempting to buy any surplus from major PPE-producing nations.
Growing concerns about the quality of various Chinese medical products led China to impose new restrictions on coronavirus-related medical supplies, including personal protective equipment, which only permit manufacturers with accreditation to sell their products with China to export to other countries. The nation vows to ease the limitations despite the fact that numerous nations are still combating COVID-19 with severe shortages of vital medical supplies. This is then anticipated to have an impact on the global market for personal protection equipment’s growth prospects.
COVID-19 Redirects the Application Scope of Personal Protective Equipment
To close the PPE supply-demand gap, governments and health groups from all over the world are working more and more closely with producers and suppliers. However, in the face of a widespread airline lockout and restrictions on export activity, these firms are confronting substantial challenges related to the lack of raw materials and outbound logistics.
Manufacturers are currently halting the manufacturing of industrial PPE including welding helmets, chemical resistant gloves, and industrial safety in addition to making crucial decisions to restore normalcy and concentrating on medical applications for their products. To give real-time information, reduce exposure to risks, and enable modifications with internal and external conditions, innovations for smart personal protection equipment are, however, on the horizon. Demand for PPE will continue to rise in step with rising mining activity following supply chain normalisation.
PPE Market – Competitive Landscape
A section of the FMI’s report covers detailed profiles of key players active in the personal protective equipment (PPE) market wherein product portfolio, new launches, development strategies, and regional footprint have been provided. Some of these players include 3M Company, Rahman Group, Golden Chang, Oftenrich Holdings Co. Ltd, JSP Ltd., Interspiro, Honeywell Life Safety, Ansell Healthcare Products LCC, Gateway Safety Inc., Wells Lamont Industry Group, Avon Rubber p. i. c., JAL Group, COFRA Holding AG, Avon- ISI, Alpha Pro Tech Ltd., Eurodress GmBH, Bekina NV, Jallatte Group, and Z and V Group.