Personal Protective Equipment Market Could Exceed $84 Billion By 2027
Palm Beach, FL – September 16, 2020 – During the present global pandemic crisis, one industry has been the absolute center of attention for demand of its products… the personal protective equipment (PPM) market! Consumers and workers alike are creating an ever increasing and rising demand for hand protection, respiratory protection, and protective clothing to ensure their safety during the ongoing COVID-19 pandemic is expected to boost the demand for Personal Protective Equipment (PPE). Rising awareness regarding advantages of hygiene for avoiding contamination is anticipated to drive the demand for hand, facial and full suit protection equipment. Furthermore, increasing adoption of these devices to limit the spread of COVID-19 infection through surface contact is expected to drive the demand. In fact two recent reports from Grand View Research predict continuing substantial growth in the market. The first report projected that the global personal protective equipment market size, which was estimated at USD 55.60 billion in 2019, is expected to reach USD $59.50 billion in 2020. Yet another report from them projected more into the future saying that the global personal protective equipment market size is expected to reach USD $84.7 billion by 2027, registering a 6.7% CAGR over the forecast period. Active Companies from around the market in the PPE space include: OPTEC International, Inc (OTCPK: OPTI), Lakeland Industries, Inc. (NASDAQ: LAKE), Cardinal Health, Inc. (NYSE: CAH), Honeywell International Inc. (NYSE: HON), 3M Company (NYSE: MMM).
Some of the key suggestions from the Grandview report are that: “The demand for disposable gloves in North America is estimated to witness a growth of 8.6% in terms of revenue, from 2020 to 2027 on account of the presence of stringent regulations regarding health and safety of the health workers; Respiratory protective equipment accounted for over 10.8% of the global revenue in 2019 owing to the increased demand for surgical masks and respirators for providing protection to the hospital staff against contaminants and pathogens; Hospitals accounted for 55.7% of the healthcare Personal Protective Equipment (PPE) industry in 2019, on account of rising number of people opting for medical services for treatment coupled with increasing number of physicians in the emerging economies.”
OPTEC International, Inc (OTCPK: OPTI) BREAKING NEWS: OPTEC INTRODUCES ADVANCED NEW FDA APPROVED PPE PRODUCTS FOR ON-LINE RESALE & DISTRIBUTOR NETWORK – OPTEC International, Inc (OTCPK: OPTI) OPTEC announced the company has introduced a number of advanced FDA approved PPE (personal protection equipment) products for the on-line e commerce platform and distributor network.
In addition to the existing products produced and distributed by the company for both PPE and commercial germicidal sterilization using combinations of Ultra-Violet, UV-C and UV-C LED technologies, OPTEC has now added additional FDA approved products to the company’s Inventory catalog including an advanced series of Bio-Masks integrating a patented nanotechnology process using a “NBELYAX” active agent ingredient, this type of process significantly increases the removal of DNA and RNA from pathogens providing additional protection. The masks offer an equivalent of N-99 protection exceeding the protection offered by the most popular N-95 mask. Offered for adults and children in a series of graphic designs, including licensed TV show versions for the children’s versions and a special Limited edition for the OCTOBER “Breast Cancer Awareness Month 13+”. The products will be available for purchase on the company’s website September 21st, 2020.
OPTEC is also introducing a new advanced personal FDA approved Sanitizer range of products which include multiple versions of sanitization along with bacterial and virus protection technology for individual and commercial use, these products are currently in production and will be available for purchase and distribution early October 2020. Read this release for the OPTEC news at: https://www.financialnewsmedia.com/news-opti/
Other PPE industry leading companies to take note of in the markets:
Lakeland Industries, Inc. (NASDAQ: LAKE) closed up at $21.16 on Tuesday trading over 890,000 shares by the market close. Lakeland manufactures and sells a comprehensive line of industrial protective clothing and accessories for the industrial and public protective clothing market. Our products are sold globally by our in-house sales teams, our customer service group, and authorized independent sales representatives to a network of over 1,600 global safety and industrial supply distributors. Our authorized distributors supply end users, such as integrated oil, chemical/petrochemical, automobile, steel, glass, construction, smelting, cleanroom, janitorial, pharmaceutical, and high technology electronics manufacturers, as well as scientific, medical laboratories and the utilities industry. In addition, we supply federal, state and local governmental agencies and departments, such as fire and law enforcement, airport crash rescue units, the Department of Defense, the Department of Homeland Security and the Centers for Disease Control. Internationally, we sell to a mixture of end users directly, and to industrial distributors depending on the particular country and market.
Cardinal Health, Inc. (NYSE: CAH) closed slightly down on Tuesday trading just over 2.3 Million shares. From the CAH website: Appropriate use of personal protective equipment (PPE) improves the safety of patient and healthcare providers in the healthcare environment. PPE provides a barrier against exposure and transmission of infectious material and prevents contamination of surfaces. PPE protects skin, clothing, mucous membranes, and airways. Healthcare workers can protect themselves, patients and others against exposure to infectious material by ensuring they use PPE. The use of PPE is a Standard Precaution in guidelines set by Centers for Disease Control and Prevention (CDC). This continuing education activity will provide you with the information you need to appropriately use PPE during a variety of patient care activities.
Honeywell International Inc. (NYSE: HON) closed very slight down on Tuesday trading just over 1.6 Million shares by the close. Honeywell is a leading provider of high-quality personal protective equipment (PPE). Having the right equipment and solutions allows us to adapt to our new normal, ensuring that we’re on the correct path to returning to work, returning to life and reshaping the future as we know it – together. Packed for your convenience, Honeywell Safety Packs are available in a resealable carrying pouch and include: disposable masks, disposable gloves and cleansing wipes. Honeywell personal protective equipment’s lineup will soon include Honeywell Dual-Layer Face Cover Faceshields. Take steps to help protect yourself and others while remaining comfortable with this new face shield which contains a hidden pocket designed for easy Honeywell filter removal and replacement.
3M Company (NYSE: MMM) closed down slightly on Tuesday trading over 1.9 Million shares by the market close. 3M are experts in helping keep your environment safe in a changing world. From safety glasses, hearing protection, disposable respirators, and safety harnesses to reflective road markings, water filtration, and fire-stopping solutions, we share your goal of keeping people safe. We develop our personal protective equipment (PPE) and other safety solutions based on decades of industry experience and a deep knowledge of industry standards, and extend our innovation to help keep your facilities, roads, and communities just as safe.
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