US Medical Protective Equipment Industry to Surge at 8.7% CAGR, Reaching $13.8 Billion by 2033to surge to US$ 13.8 Billion by the end of 2033, with a CAGR of 8.7%

The United States Medical Protective Equipment Industry is poised for significant growth, with a projected Compound Annual Growth Rate (CAGR) of 8.7% over the forecast period, according to a recent analysis by FMI. The industry’s value is expected to surge to US$ 13.8 billion by the end of 2033, marking a remarkable upswing in market performance.

North America is poised to maintain its market dominance throughout the projected period. The United States, in particular, stands as the frontrunner in this regional supremacy, attributable to its stringent regulations governing medical protective devices and the growing awareness among its populace regarding the significance of these protective gear. Notably, the seamless collaboration between companies and healthcare facilities, facilitated through direct channels, further bolsters the United States’ dominance in the medical protective equipment industry.

A significant milestone was reached in January 2021 when the American manufacturing powerhouse, 3M, proudly announced an astonishing increase in its annual production of N95 respirators, reaching a staggering 2.5 billion units for the year. This represents a remarkable fourfold surge compared to 2019 and surpasses the 2 billion units produced in 2020. The market’s upward trajectory in 2021 has been catalyzed by surging demand and expanded production across various critical medical protective equipment, including surgical masks, gloves, gowns, PPEs, and respirators.

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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 Medical Protective Equipment Industry:              

• The United States holds a large share of the medical protective equipment industry. 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 Responsible Glove Alliance (RGA). The role of RGA is to ensure protection of workers susceptible to forced labor in supply chains, especially within medical supply industries. The initial focus of RGA would be manufacturing industry of rubber glove in Malaysia. This is due to the fact that Malaysia is 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 includes 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.

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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 Organization
• Ambulatory Surgical Centers
• Specialized Clinics
• Diagnostic and Research Laboratories

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 areas such as 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 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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