for significant and permanent growth

The PPE Market

Why the PPE market is poised for significant and permanent growth.

By Scott Adams

The COVID-19 pandemic continues

to transform the personal protection equipment (PPE) market. The immediate impact of the outbreak is varied, with a few sectors feeling its effects more significantly than others. Healthcare is the primary industry to deal with these impacts.

In 2020, the PPE market worldwide had a market value of $77.36 billion. Experts expect the CAGR to grow 7.3% from 2020 to 2028. This significant growth results from increased demand in a market that was ill-prepared to deal with the shortages related to the pandemic.

Post-pandemic forecasts in the PPE market indicate that there will be no slowdown of growth in this market. Due to the widespread acceptance of the need for PPE for both professional and personal protection, the current market proves these forecasts to be accurate.

PPE manufacturers will continue seeing healthy market growth rates year over year due to high demand for everything from simple face masks, to level four biohazardous environments like hospitals, sterile manufacturing facilities, and construction sites.

The effects of COVID-19 on the U.S. PPE market

The outbreak of the COVID-19 pandemic created a beneficial impact on the PPE market as demand for masks, respirators, and gloves have increased worldwide. One of the fastest-growing regional markets is North America.

This market size is due to its high cost relative to other countries. However, the North American market remains competitive on quality control measures. These measures make it easy for manufacturers to get their products certified quickly after import into this country while maintaining strict standards.

Salisbury, a Honeywell brand, is the leading producer of PPE, and 3M and Ansell are among the other top manufacturers. These big names in PPE development dominate the market. However, several small, private labels launch PPE gear at lower price points and use this to gain their market share.

Regulations within the industry require specs to remain consistent. Therefore, some smaller labels must limit their production of any PPE that does not require advanced technical knowledge and expertise.

3 reasons the PPE Market is poised for significant growth

People often think that PPE refers to face masks. However, face coverings represent only a fraction of the PPE equipment worn throughout all the

Smart PPE market: Market share by type of smart PPE-2019

Source: Fact.MR

Hospitals are likely to spend more money on safety equipment for their staff because of the increased spotlight on healthcare workers’ health and wellness.

industries that use protective equipment. Protective clothing is the most used safety equipment.

The vast array of PPE types and the many industries that require its use is the primary driver of an accelerating PPE market. Here are the top 3 reasons the PPE market continues to experience significant growth.

1 Focused safety for healthcare providers

Healthcare organizations remain the primary consumers for PPE products, and this need is expected to increase.

At the dawn of the pandemic, healthcare workers were severely affected by the shortage of PPE. They needed protective equipment to care for the influx of contagious patients that flooded hospitals and health care facilities, but the supply was stretched thin by increased demand in other industries that did not typically consume PPE.

Images circulated through the media of medical staff working with makeshift PPE – reusing equipment that was meant to be disposable, and protecting themselves and their patients with anything that was at hand, including garbage bags. The shortage generated public outrage, and medical suppliers pushed

to manufacture more equipment as quickly as possible.

While the shortage is not as severe now, demand continues to outpace supply. The continual need for increased PPE supplies in the healthcare industry is one of the primary drivers that will sustain market growth in the future. health. Furthermore, many of those say they will consider continuing to wear masks in the future during cold and flu season.

3 Accelerated technological innovations

PPE market trends for the next three years in the United States forecast an

Personal protective equipment (PPE) market in US 2020-2024

2 Public interest in the PPE market

As local governments passed mask mandates, public interest in PPE for their own protection sparked further growth in the PPE market. Increased PPE purchasing in the public health sector contributed to the shortages experienced by the medical industry and other essential service industries that were now facing PPE mandates, such as grocery stores and restaurants.

As the world continues to battle the pandemic, public awareness of health concerns remains high and PPE consumption continues at an elevated rate. According to the CDC, 3 in 4 people have adopted the mandates as necessary for public incremental growth of $8.67 billion. Innovations in technology are some of the more significant reasons for this growth.

It is not just the healthcare industry that should be taking notice of this growth, as innovations in PPE could provide opportunities for investors to take advantage. The development of health care products based on biomaterials should create business opportunities in the near future.

This development would help mitigate any negative impact these items have on environmental growth, and may prove successful with leading PPE manufacturers’ mission statements to “promote sustainable energy use by reducing consumption through minimizing waste.”

Facing PPE challenges in the healthcare industry

One of the most damaging threats to hospitals is declining revenues alongside the increasing costs of PPE. Hospitals are unsure how they will continue to provide quality care while staying financially stable in a time when people need it more than ever.

This lack of stability in the supply chain – whether demand-related or from financial hardships – often creates uncertainty for providers and patients alike.

How PPE market trends will influence the healthcare industry

The healthcare industry is rapidly changing. With the PPE market on the rise, it will continue to have a significant impact on how we prepare for emergencies in the future. Crises like pandemics, natural disasters, or terrorist attacks will be driving factors in the PPE supply chain.

Because of the increased need for personal protection during these unpredictable times, healthcare businesses are choosing to work with quality health care product suppliers. These supplies come from all over the world, creating an increase in demand for all PPE manufacturers. There will also be new opportunities rising within this ever-changing industry, such as a focus on sustainable, environmentally friendly PPE production.

Hospitals are likely to spend more money on safety equipment for their staff because of the increased spotlight on healthcare workers’ health and wellness. Medical professionals who were previously not required to use PPE may now be at risk if they work with patients, directly or indirectly, without appropriate protection.