DUBLIN--(BUSINESS WIRE)--The "COVID-19 Safety and Prevention Products Market - Growth, Trends, Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The COVID-19 Safety and Prevention Products market is expected to register a CAGR of 7.2 % over the forecasted period (2020 - 2025).
The growth is primarily fueled by the rising cases of COVID-19 since early 2020, and the demand for these products is expected to increase after the lockdown imposed by several nations. As per UNCTAD's latest report, the end of January 2020, nearly 20 countries reported cases of COVID-19, which was risen to 54 by the end of February, 202 by the end of March, and almost 212 countries in May 2020.
Additionally, strong public health measures and surveillance capacity have become an essential factor to prepare, prevent, and respond to health emergencies. Preventive products such as face masks, sanitizers, gloves, non-contact thermal imagers have reported a surge, for instance, as per WHO, as of March 2020, globally, 89 million units of masks and 2.9 million liters of hand sanitizers have been used every month by frontline healthcare workers.
Key Market Trends
Ventilators to Record a Major Share of the Market Studied
- With around 5-15% of patients with COVID-19 infection requiring intensive care surveillance and ventilatory support, the mortality during mechanical ventilation has suggested being higher and lung-protective ventilation is mandatory.
- Developments such as NASA's Jet Propulsion Laboratory (JPL) in California selected eight U.S. manufacturers to make a new ventilator tailored for coronavirus (COVID-19) patients in May 2020, is expected to reduce the demand pressure in the future. The prototype, additionally, features a high-fidelity lung simulator, which was tested across 20 ventilator settings, indicating multiple scenarios that could be seen in critically ill patients in an intensive care unit. Also, the Food and Drug Administration has approved the design for an emergency use authorization.
- Then, non-allied companies/manufacturers have actively set in the production of low-cost ventilators across emerging economies. For instance, Mahindra & Mahindra ventilators have begun for production as of March 2020. The company has build bag valve mask type ventilators to simplify design and to scale up capacity.
North America to Hold a Significant Share in the Market
- With COVID-19 cases increasing in the region and as of the first week of June 2020, United States had reported more than 2 million cases due to which the demand and production of protective and treatment-related products are likely to rise. Additionally, the health officials from Washington State to Delaware resorted to the federal government for access to a network of storage facilities housing the emergency supply of potentially life-saving pharmaceuticals and medical supplies to be used only in a public health emergency.
- Then, as of April 2020, Trump administration placed an order for 30,000 ventilators worth USD 489.4 million from General Motors (GM) as per the Defense Production Act. GM, also designed its V+Pro ventilator model as an upgrade to the one offered by Ventec for speeding up and optimizing production.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Porters 5 Force Analysis
4.3 Market Drivers
4.3.1 Rising EXIM of Medical Grade Supplies
4.3.2 Reduced Tariff on Protective Equipment
4.4 Market Restraints
4.4.1 Inadequate Supply of Safety Products Creating a Price Pressure
5 MARKET SEGMENTATION
5.1 By Product/Equipment Type
5.1.1 Temperature Device
5.1.3 Isolation Chambers
5.1.4 Protective Face Masks
5.1.7 Medical Gowns (Coveralls)
5.1.8 Others (Face Shields, Goggles, Head Covers, Shoe Covers)
5.2.1 North America
5.2.3 Asia Pacific
5.2.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 3M Company
6.1.2 DUPONT de Nemours, Inc
6.1.3 Sterisets International BV
6.1.4 Microgen Hygiene Pvt. Ltd.
6.1.5 Medica Europe BV
6.1.6 Ansell Ltd
6.1.7 Dynarex Corporation
6.1.8 Shandong Yuyuan Latex Gloves Co., Ltd.
6.1.9 Shield Scientific
6.1.10 Guangzhou Pidegree Medical Technology Co., Ltd.
6.1.11 Kimberly Clark Corporation
6.1.12 Reckitt Benckiser Group PLC
6.1.13 Procter & Gamble (P&G) Company
6.1.14 Cardinal Health Inc.
6.1.15 Koninklijke Philips N.V.
6.1.16 Medtronic PLC
6.1.17 ResMed Inc.
6.1.18 HEYER Medical AG
6.1.19 Smiths Medical, Inc.
6.1.20 A&D Company, Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/d1ydbi