The Global Medical Protective Equipment Industry is set for substantial growth over the next decade, with a projected Compound Annual Growth Rate (CAGR) of 9.5%, according to a comprehensive analysis conducted by Future Market Insights (FMI). The industry’s value is anticipated to surge from US$ 21.3 billion in 2023 to an impressive US$ 52.8 billion by the end of 2033.
The driving force behind this remarkable expansion is the escalating demand from healthcare facilities worldwide. To meet this demand, key industry players are strategically focusing on enhancing their product portfolios, with a specific emphasis on face masks, face shields, gowns, and gloves. Simultaneously, these market leaders are making significant investments in expanding their production capacities, playing a pivotal role in the overall market growth trajectory.
The surge in demand can be attributed to stringent governmental regulations and heightened concerns regarding health and safety. End users are responding by making substantial investments in medical protective equipment, recognizing the critical role these measures play in minimizing exposure to potential hazards that can lead to severe health issues.
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Since maintenance of hand hygiene is considered important to avoid getting infected by infectious diseases, the demand for gloves is surging significantly. Also, medical gloves are used to safeguard the wearer as well as other patients from spreading the infection or illness during medical procedures or examinations. Increasing surgical procedures over the forthcoming years is projected to boost the sales of medical gloves, thus shaping the medical protective equipment industry.
Key Highlights of the Global Medical Protective Equipment Industry :
- The United States holds a large share of the medical protective equipment market. The same trend is projected to be followed in the forthcoming years, as the country is projected to attain US$ 13.8 billion by 2033. The estimated CAGR for the forecast period is 7%.
- In the Asia Pacific, China is expected to secure a significant position in the forecast period. The country is anticipated to reach US$ 2.9 billion by 2033, registering a CAGR of 11% in the meantime.
- The United Kingdom is predicted to garner market revenue of US$ 2.2 billion by 2033. The market is predicted to expand at a CAGR of 9.5% over the forthcoming years.
- The gloves segment is expected to exhibit a CAGR of 8.9% over the forecast period. Growing demand for surgical disposable gloves approved by FDA is propelling the gloves segment forward.
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News Featuring Market Developments by Key Players of Medical Protective Equipment Solutions:
- In March 2022, Ansell Ltd., a leading provider of personal protective equipment, joined the global players working in the rubber glove industry to establish the Responsible Glove Alliance (RGA). The role of RGA is to ensure the protection of workers susceptible to forced labor in supply chains, especially within medical supply industries. The initial focus of RGA would be the manufacturing industry of rubber glove in Malaysia. This is because Malaysia is the world’s leading producer of rubber gloves, and relies extensively on migrant labor.
- In March 2022, Dynarex Corporation, extended its durable medical equipment (DME) portfolio to meet the surging demands from long-term care and home-care marketplaces. The offerings of DME include premium solutions for a range of requirements, such as home care beds, lifts and slings, mattresses, mobility, wheelchairs, etc., and long-term care.
- In February 2022, Kimberly-Clark Worldwide, Inc. officially revealed its innovative ICON dispenser collection. These dispensers provide design customization, along with patented technology to supply a 99.99% jam-free, more efficient, virtually noise-free paper towel dispensing experience.
Key Companies Profiled in the Global Medical Protective Equipment Industry:
- 3M
- Ansell Limited
- Kimberly-Clark Corporation
- Top Glove Corporation Bhd
- Dynarex Corporation Inc
- DuPont de Nemours, Inc
- Honeywell International Inc
- Hartalega Holdings Berhad
- Cardinal Health, Inc
- Halyard Worldwide, Inc
- Mölnlycke Health Care
- Crosstex International, Inc
- Derekduck Industry Corporation
- Medline Inc
- International Enviroguard
- Prestige Ameritech
- Alpha Pro Tech
- Dukal Corporation
- Lakeland Industries, Inc
- Titan Hardware Industrial Co., Ltd
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Global Medical Protective Equipment Industry by Category
By Product Type:
- Gloves
- Protective Clothing
- Gowns
- N95 Respirators
- Surgical Masks
- Goggles
- Face Shields
- Head Cover
- Shoes Covers
By Usage:
- Disposable
- Non-disposable
By End User:
- Hospitals
- NGO’s/ Government Organizations
- Ambulatory Surgical Centers
- Specialized Clinics
- Diagnostic and Research Laboratories
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East and Africa
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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