Global personal protective equipment market is estimated to be valued at US$ 121.9 Billion by 2030, exhibiting a CAGR of 9.38% during the forecast period (2023 to 2030).
Increasing production capacity of the PPE by manufacturers to cater the rising need in the outbreak of COVID-19 pandemic creates lucrative opportunities. For instance, in March 2020, Aspen Surgical Products, Inc., announced that it increased production capacity for the Precept brand of personal protective equipment (“PPE”) to support COVID-19 relief efforts in North America, and to cater to high demand for facial protection amidst COVID-19.
Global Personal Protective Equipment Market: Drivers
Stringent Regulatory Framework for Worker Safety
Stringent government regulations is expected to drive the global PPE market growth. Government authorities have implemented safety regulations to reduce incidents and risks, and thus, enhancing worker health and safety at workplaces. Several laws and guidelines compel end user manufacturers to equip their workers with PPE certain work environments. The National Safety Council (NSC) is a public service organization that works under the U.S. Department of Labor to strengthen workplace safety. Its objective is to focus on preventable injuries and deaths at construction sites or manufacturing units. It provides employers and workers with classroom programs and online training to inform them about the casualties that can occur due to negligence. Several industries follow NSC standards to provide their work training programs on a regular basis, and this is expected to drive the global personal protective equipment market growth.
Personal Protective Equipment Market Report Coverage
|Base Year:||2022||Market Size in 2022:||US$ 59.5 Bn|
|Historical Data for:||2017 to 2021||Forecast Period:||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR:||9.38%||2030 Value Projection:||US$ 121.9 Bn|
3M Co., Alpha Pro Tech, Ltd., Ansell Ltd., Avon Rubber P.L.C., Jal Group, Cofra Holding Ag, Oftenrich Holdings Company Limited, Honeywell Safety Products, Rock Fall Ltd., and Uvex Safety Group
|Restraints & Challenges:||
Development and Innovations in Product
Manufacturers are focusing on the development and innovations in product such as usage of light and comfortable equipment. People spend on on quality products, and this led manufacturers to indulge in high-quality fabrics and materials. Trendy aesthetic and designs coupled with technology is expected to drive the global PPE market growth.
Global Personal Protective Equipment Market: Restraints
Rising Prices of Raw Materials
Rising prices of raw materials, owing to the supply chain disruptions caused by the COVID-19 pandemic is expected to hamper the market growth. There has been huge demand for PPE in recent years. PPE manufacturers are focusing on developing high-quality products and introducing stringent quality control measures. Increasing complexity in the manufacturing process is expected to hamper the market growth during the forecast period.
Global Personal Protective Equipment Market: Impact of COVID-19
World Health Organization (WHO) is working with governments and industry to boost the production rate of PPE. According to WHO estimates, to meet the rising global demand, manufacturers are increasing the PPE production by 40%. Governments are focusing on easing restrictions on the export and distribution of personal protective equipment and other medical supplies to boost the production. This is expected to drive the market growth.
Global Personal Protective Equipment Market: Market Segmentation
On the basis of Application, pharmaceuticals segment dominated the global personal protective equipment market in 2022, accounting for 35% market share, and was followed by manufacturing, chemicals, Food segments.
Figure 1. Global Personal Protective Equipment Market, By Application Industry, 2022
Global Personal Protective Equipment Market: Regional Analysis
Europe accounted for the largest revenue share of 30.8% in the global market in 2022, owing to a developed industrial platform along with rising adoption of products in the various sectors. High product penetration across European countries is attributed to a strict regulatory environment along with severe penalties for non-compliance, driving companies to use PPE regularly. Asia Pacific is expected to witness the fastest growth rate in the market at a CAGR of 7.8% over the forecast period, owing to significant economic development and industrialization across the region. Numerous factors such as the huge cost of compensation and increasing workforce fatalities are expected to encourage employers to use PPE in various end User industries.
Personal Protective Equipment Market: Recent Developments
Figure 2. Global Personal Protective Equipment Market, By Region, 2022
Global Personal Protective Equipment Market: Key Companies
Key players are operating in the global personal protective equipment market are 3M Co., Alpha Pro Tech, Ltd., Ansell Ltd., Avon Rubber P.L.C., Jal Group, Cofra Holding Ag, Oftenrich Holdings Company Limited, Honeywell Safety Products, Rock Fall Ltd., and Uvex Safety Group
*Definition: Personal protective equipment is a safety tool that is used by workers to protect against hazards at the workplace. Protective clothing, respiratory protection, head eye and face protection, hearing protection, fall protection, professional footwear, and hand protection are some of the personal protective equipment.
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