New York, USA, Sept. 22, 2021 (GLOBE NEWSWIRE) -- According to a recent report by Research Dive, the global personal protective equipment market is forecasted to reach $93.5 billion by the end of 2026 at a CAGR of 10.0%, increasing from $43.9 billion in 2018. The comprehensive report provides a brief overview of the current scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time scenario of the market.
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Factors Impacting the CAGR Figures Pre and during COVID-19
The report reveals the real-time CAGR registered by the market during the pandemic. According to the report, the personal protective equipment market has recorded a CAGR of 10.0% during recent months, rising from the estimated CAGR of 6.7% in the pre-pandemic scenario. Emergence of coronavirus pandemic has made it mandatory to take necessary precaution whenever we go outside or meet someone. The demand of personal protective equipment such as facemasks, gloves, and face-shields has been increased during the pandemic. This factor is boosting the growth of the market.
The Eye & Face Protection Products will have a Substantial Growth During the Period of Forecast
Based on the product, the global market for personal protective equipment is broadly categorized into fall protection, head protection, hearing protection, eye & face protection, respiratory protection, protective clothing, protective footwear, hand protection, and others. The market size for the eye & face protection equipment will be $16.0 billion in 2026 and is projected to rise at 11.0% CAGR. The eye & face protection provides versatility and a high level of protection; thus, the usage of this equipment is increased extensively. Moreover, there is a wide variety of industry benefits from the use of eye & face protection products, ranging from manufacturing to petrochemical, pharmaceutical, forestry, and laboratory.
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Pharmaceutical Segment to be Most Lucrative
On the basis of application, the global personal protective equipment market is majorly classified into manufacturing, construction, oil & gas, pharmaceutical, transportation, food, and, chemical. The market size for the pharmaceutical segment will be $17.5 billion in 2026 and is expected to grow at 10.6% CAGR. The growing emphasis on a secure, safe working environment in the pharmaceutical industries is one of the key factors for the growth of this segment, in the global market. Furthermore, global leaders are highly concerned with improving worker comfort, protection, and productivity.
Factors Impacting the Revenue before and after the Pandemic
According to the report, the real-time market size has been increased compared to the pre-COVID-19 estimations. The real-time market has generated revenue of $53.2 billion, while it was estimated to be $51.8 billion in a pre-COVID analysis. During the emergence of the coronavirus pandemic, PPE kit has become mandatory for everyone. Wearing mask has become compulsory in the public places. In the healthcare industry, the necessity and demand of personal protective equipment have been increased than ever as the chances of viral infection is greater than ever. These factors are predicted to enhance the growth of the global personal protective equipment market during the pandemic.
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Key Players and Strategies
The most prominent players of the global personal protective equipment market include
- Sioen Industries NV
- 3M
- Alpha Pro Tech
- Honeywell International Inc
- DuPont.
- KCWW.
- ANSELL LTD.
- MSA.
- Lakeland Industries, Inc.
- Radians, Inc. among others.
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
For instance, in September 2020, The United Nations Industrial Development Organization (UNIDO) inaugurated a Roadmap for the improvement of the Personal Protective Equipment (PPE) in Egypt.
During the COVID-19 pandemic, the Egyptian health care system faced many challenges because of shortage of PPE kits. The study endeavors to offer a proper roadmap for the country to augment the personal protective equipment supply chain and improve the entire healthcare system.
Post Pandemic Insight
The global market of personal protective equipment is expected to sustain its growth even the post pandemic period because of its role in health and hygiene. The demand of PPE kits will never cease in the healthcare industry even after the pandemic. The PPE kits help the doctors and other medical staff from contracting any infectious disease during ongoing treatment of a patient. Moreover, the key players are concentrating on the merger and acquisition, partnership, and new product development to meet the regular demand of protective equipment.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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