CHICAGO , September 22, 2022 /PRNewswire/ — Personal Protective Equipment Market Size is forecast $64.2 billion at a CAGR of -1.3% by 2027 $68.5 billion in 2022, according to a new report by Markets and Markets™. This growth is primarily driven by increasing awareness of worker safety, strict regulations in developed countries and the outbreak of the Covid-19 pandemic. Accidents at work in the United States have been increasing every year, according to OSHA. OSHA reported that the cost of eye injuries in the workplace is estimated $300 million a year in medical treatment, lost productivity and workers’ compensation. Data from the US Bureau of Labor Statistics (BLS) also supports the fact that the majority of injured workers were not wearing PPE at the time of the accident. There are a number of losses associated with an accident at work, both direct and hidden costs. Direct costs are realized at the time of accidents, while hidden costs are realized after accidents. Due to the increasing number of accidents and injuries in the workplace, the importance of occupational safety is increasing.
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It is estimated that Hand & Arm will be the largest Personal Protective Equipment market in 2021.
Hand and arm protection includes three subcategories namely disposable gloves, reusable gloves and others (wrist cuffs and armbands, elbow pads, gloves and barrier creams). Hand and arm protection are used not only to protect a person from workplace hazards or injury, but also to prevent the spread of COVID-19. The disposable gloves sub-segment led the hand and arm protection equipment market in 2020 due to increased demand from the healthcare industry. Disposable gloves are for single use and must be disposed of immediately, this ensures hygiene and prevents contamination. The rising incidence of hand cuts, abrasions, thermal burns, bruises, punctures and arm injuries during daily activities is expected to fuel the hand and arm protection equipment market during the forecast period.
It is estimated that healthcare will be the largest end-use industry for personal protective equipment in 2021
The rising prevalence of COVID-19 has been a major contributor to the increase in the use of personal protective equipment around the world. Factors such as increasing demand for hospital beds and intensive care units in countries with rising COVID-19 incidences and an increasing number of makeshift hospitals are driving the demand for personal protective equipment in hospitals while treating patients. Infrastructure expansion was evident on a global scale as governments scrambled to fight the virus and care for a growing number of patients. All these factors have increased the demand for personal protective equipment in 2020 and 2021 from the healthcare industry. However, demand is expected to decline in the coming years as the spread of COVID-19 declines in most countries and governments have also lifted mandates on the use of face masks in public places.
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Asia Pacific is expected to be the fastest growing personal protective equipment market during the forecast period.
That Asia Pacific offers the greatest opportunities for personal protective equipment as it is one of the hardest hit regions due to COVID-19. The growing awareness of personnel and occupational safety is also boosting market demand in this region. The increasing industrial developments, economic growth and favorable business practices in the Asia Pacific are driving the demand for personal protective equipment.
Major market players profiled in the report include Honeywell International Inc. (USA), DuPont De Nemours, Inc. (USA), 3M Company (USA), Lakeland Industries, Inc. (USA), Alpha Pro Tech, Ltd. (Canada), Sioen Industries NV (Belgium), Radians Inc. (USA), Kimberly-Clark Corporation (USA), Ansell Ltd. (Australia) and MSA Safety Inc. (USA).
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