According to a report by P&S Intelligence, the global personal protective equipment (PPE) market is predicted to reach $112.7 billion by 2030, advancing at a 7.7% CAGR during 2020–2030. The rapidly increasing incidence of coronavirus across the globe is one of the major reasons for the growth of the market. Due to the novel disease, the demand for protective gear from healthcare settings has increased and the awareness regarding the use of this equipment is growing as well.
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Amidst the rising tensions regarding the disease, governments of several countries are facing shortage of crucial healthcare items and therefore are dependent upon their import form India, China, the U.K., and Japan, which is driving the PPE market. For instance, the U.K. has exported millions of important medical supplies, such as PPE kits, to Italy, Spain, and Germany. Furthermore, about 90 tons of essential healthcare supplies, including PPE equipment, was provided to Venezuela in April 2020 by the United Nations Children’s Fund.
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When geography is considered, Europe and North America dominated the PPE market in 2019, which can be attributed to the stringent regulatory and safety requirement in several industries and increased awareness among people about respiratory masks. In addition to this, the number of coronavirus cases in these regions are massive, which is resulting in the high demand for PPE kits from players in healthcare facilities.
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The players in the PPE market are operating both globally and locally. Some of the key companies in the domain are Kimberly-Clark Corporation, 3M Company, Honeywell International Inc., Alpha Pro Tech Ltd., Dynarex Corporation, Avon Rubber PLC, DuPont de Nemours Inc., UVEX ARBEITSSCHUTZ GmbH, Aero Pro Co. Ltd., Mölnlycke Health Care AB, Kowa Company Ltd., Top Glove Corporation Bhd, Prestige Ameritech, and Medline Industries Inc.
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