The size of the personal protective equipment market in the Latin American region is predicted to register a promising CAGR during the forecast period.
Rising workforce, strict government regulations, and strict labor laws are driving the growth of the Latin American PPE market during the forecast period. PPE market in the healthcare sector includes face protection, goggles, a mask or face shield, gloves, protective clothing, headgear, and rubber boots. At the same time, the motto of healthcare providers worldwide is "to protect yourself so that you can continue to help others" to protect themselves against possible external pathogens or infectious substances. This includes being up to date and up to date with infection prevention and control measures and proper implementation of personal protective equipment (PPE); this is expected to drive the market growth rate.
The demand for PPE is also increasing at an exponential rate due to communicable disorders. It is increasing continuously, mainly by healthcare workers/healthcare providers, due to the onset of the pandemic of COVID-19 around the world. For example, in 2020, the World Health Organization (WHO) estimated by studying the COVID-19 situation worldwide that the PPE industry must increase its manufacturing capacity by 45% to meet the growing demand for PPE across the region. In addition, the WHO has also estimated that the need for protective glasses is 1.75 million per month and those for gloves are 79 million worldwide. Therefore, the upcoming new operations, specialty programs, and new advancements in PPE provide an opportunity for the growth of the PPE market in Latin America.
However, factors such as inappropriate disposal of personal protective equipment for healthcare, unmet need, and lack of distribution in the supply chain are hampering the growth of the PPE market in Latin America. In addition, the shortage of personal protective equipment for healthcare workers in Latin America and the lack of qualified experience in training for personal protective equipment for health are hampering the PPE market in Latin America.
Impact of COVID-19 on the Latin American PPE Market:
With the outbreak of the COVID-19 pandemic around the world, the personal protective equipment industry is expected to grow exponentially by 2020 to 2022 due to the increasing demand for masks, gloves, protective clothing, and glasses for the medical / health sector to prevent the spread of the coronavirus and safely treat those infected. In addition, the increase in incidents of manual accidents in the workplace, the growing demand for respiratory equipment for mining, emergency relief, military, police, healthcare, and medical facilities. Fire departments are expected to drive the personal protective equipment market share growth for years to come in Latin America.
This research report on the Latin American PPE market has been segmented and sub-segmented into the following categories:
Geographically, the Latin American PPE market is predicted to account for a substantial share in the global market during the forecast period. The growth of end-use industries such as construction, oil and gas, healthcare, manufacturing, and marine has created numerous growth opportunities in Latin America.
The healthcare market in Latin America is growing enormously due to the increase in the prevalence of respiratory infections, the increase in COVID-19 cases, the safety awareness of healthcare workers and industry, and the increase in surgical interventions. In addition, other factors are expected to drive the growth of the healthcare PPE market in Latin America, including increased government initiatives, new specialist operations and programs, and new advancements in PPE.
The Brazilian PPE market is expected to lead the Latin American market during the forecast period due to the dramatic increase in the number of COVID-19 patients. The Mexican PPE market is growing with the second-highest growth due to the increase in viral infections in the region. The Argentina PPE market is growing with the third-highest share due to the increase in medical tourism in the region. Latin America is expected to have strong demand for PPE with increasing cases of COVID and other infections. In contrast, other regions are expected to grow with a good CAGR due to increased medical funds.
KEY MARKET PLAYERS:
Companies such as 3M, Honeywell International, Inc., DuPont, Cardinal Health, Medline Industries, Inc., Kimberly-Clark Corporation, Ansell Ltd., MSA Safety Inc., and O&M Halyard, Inc. are expected to account for the majority of the share in the Latin American PPE market during the forecast period.
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