Global Personal Protective Equipment (PPE) Market is slated to witness a considerable growth rate and record a decent valuation by 2032, owing to the rising consumer inclination toward smart PPE products. The tremendous boom across the technology sector has caused a noticeable surge in demand for connected IoT devices in several end-use verticals. These products can effectively enhance worker safety, productivity, and efficiency and minimize the prospects of accidents and injuries at the workplace.
The appreciable benefits of technologically advanced PPEs have encouraged product manufacturers globally to introduce cutting-edge protective gear with improved capabilities into the market. This will fulfill the upgrading safety requirements across workplace environments. For instance, in May 2020, Kenzen, a global manufacturer of wearable devices, launched a smart PPE patch that provides real-time heat monitoring of workers. The device sends instantaneous warnings when workers are subjected to heat injuries, thereby allowing immediate intervention. The personal protective equipment market is segregated based on product, application, and region.
With regard to the product landscape, the respiratory protection segment size is expected to cross USD 15 billion by 2032. The emergence of severe airborne infections such as COVID-19 that require respiratory protection as part of their prevention and mitigation will propel the sales of respiratory PPE in the ensuing years. Governments and regulatory authorities have taken initiatives to support the design and development of innovative respiratory protective gear. The prevalence of several respiratory disorders and lung infections will further create optimistic scenarios for the PPE market.
Regarding the application spectrum, the pharmaceutical segment of the personal protective equipment market is anticipated to showcase more than 6.5% CAGR between 2023 and 2032. The skyrocketing demand for drugs fueled by stockpiling and panic-induced consumer buying behavior has caused a massive boom across the pharmaceutical sector. The considerable rise in drug development projects and escalating R&D practices globally will increase PPE demand through 2032. The improving technological landscape and the development of innovative pharmaceutical products and vaccines will offer a noticeable boost to the PPE industry.
Regionally, the Latin America (LATAM) PPE market is projected to depict over 7% growth rate from 2023 to 2032. The surging incidences of COVID-19 infections, in tandem with the enormous shortage of medical PPE across healthcare facilities in countries such as Brazil, will create ample growth prospects for the regional industry. Nonetheless, the increased adoption of advanced protective gear in petroleum, iron & steel, automotive, chemical, and manufacturing sectors owing to the rising concerns pertaining to maintaining health and safety compliance at the workplace will further push PPE demand across Latin America.