A recently unveiled report on the global personal protective equipment market includes various segments of the market, including health care. The overall PPE market is projected to reach $52.4 billion by 2020, with a compound annual growth rate (CAGR) of 6.8 percent between 2015 and 2020, according to MarketsandMarkets.
“North America dominated the PPE market in 2014. The U.S. is the key market for PPE in the region. The growing demand for PPE in construction and manufacturing and oil and gas segments is driving the market for PPE in the region,” according to MarketsandMarkets.
However, the health care sector is a strong part of the global PPE market.
“Asia-Pacific is the fastest-growing market for PPE during the projected period. The ensuing increase in investments and rise in the number of new manufacturing establishments is anticipated to witness Asia-Pacific emerge into a prime driver of growth for the PPE market. Furthermore, the health care segment is expected to witness decent growth during the forecast period,” MarketsandMarkets reports. “This is due to the rising concern for safety from body fluid contamination and chemicals in the region.”
Grand View Research also predicts market growth.
“The global personal protective equipment demand was valued at $38.38 billion in 2015 and is expected to reach $68.69 billion by 2024, growing at a CAGR of 6.7 percent from 2016 to 2024,” according to Grand View Research.
The medical textiles market, which includes products and materials for PPE, is also forecast to see growth.
“The global medical textiles market is expected to reach $20.23 billion by 2022,” according to a report by Grand View Research Inc. “The rise in the number of elderly population, ongoing technological advancements and increase in health consciousness are fueling the growth of global medical textiles market.”
“Burgeoning health concerns necessitating the criticality of awareness for better health care practices coupled with rising disposable income are expected to augment the demand for medical textiles. Growing medical and hygiene sectors and health conscious population of the developing economies are projected to drive the demand for medical textiles market over the forecast period,” the report states.
“The non-woven segment is expected to grow at a CAGR of over 5 percent from 2015 to 2022. Nonwoven fabrics are used in the myriad of applications extending from wound dressings, adhesive tapes, cotton pads, disposable surgical clothing, bandages,” according to a report by Grand View Research Inc. “Rising application of these products in the health care sector is expected to drive market growth.”
Another market also impacts the overall health care segment of the global PPE market.
According to analyses from Life Science Intelligence, the U.S., European, Asia-Pacific and rest-of-world (ROW) markets for surgical drapes, gowns, gloves, masks and fluid management products are forecasted to reach $11.3 billion in sales in 2020.
“These markets are being fueled by global trends in surgical procedure volumes, aggressive strategies by product suppliers to improve safety and limit the risk of infection, and ongoing efforts to reduce health care costs,” according to Life Science Intelligence. “Market headwinds include continued financial constraints on health care systems, and downward pricing pressures. The U.S. represents the largest market for these products, although countries in the Asia-Pacific and ROW regions are expected to generate the fastest growth rates through 2020, due to their large potential and presence of local manufacturers offering low-cost product lines.”