PPE Industry Experiences Turbulence in Wake of COVID-19

If you’re not a healthcare provider or a worker exposed to hazardous conditions, chances are you didn’t pay much attention to personal protective equipment (PPE). That all changed with COVID-19. Frost & Sullivan recently hosted a webinar on the almost $60-billion PPE industry, highlighting how the outbreak has changed the business going forward. As always, there will be winners and losers within this industry that includes such major players as 3M, DuPont, Honeywell, Moldex, and Cardinal Health. Sanjiv Bhaskar, Vice President, Global PPE Practice, offered his informed perspectives. Here are some key takeaways. Industrial PPE markets will experience a decline in revenue, but healthcare PPE will benefit from unprecedented growth. Rising unemployment and the overall economic impact of COVID-19 will result in a 3 to 6% drop in the industrial PPE sector, said Bhaskar. Healthcare PPE, however, will surge: In 2019, it had an 18 to 20% market share; that is projected to rise to 30 to 32% in 2020. Frost & Sullivan estimates 2020 revenue for healthcare PPE to be somewhere between $17 and $19 billion, compared with estimated 2019 revenue between $9 and $11 billion. Not surprisingly, given those numbers, Bhaskar expects to see industrial PPE companies to become more active in healthcare applications. Companies with a local manufacturing footprint (more on that below) and regulatory approval from FDA and other bodies will be best positioned to s...
Source: MDDI - Category: Medical Devices Tags: Design News Source Type: news