Respiratory Protective Equipment Market to Cross $11.05 Billion by 2026, Says Global Market Insights, Inc.
The market growth of the respiratory protective equipment is led by growing demand from the medical and healthcare sector, which is significantly fueling the product adoption, says this report.
SELBYVILLE, Del., April 28, 2020 /PRNewswire/ -- According to Global Market Insights, Inc., the overall respiratory protective equipment market was valued at $6.81 billion in 2019 and is projected to surpass $11.05 billion by 2026, registering a CAGR of 4.6% from 2020 to 2026. The report delivers a broad analysis of the drivers and opportunities, key investment pockets, competitive scenario, wavering market trends, industry size and estimations, and top winning strategies.
High-quality respiratory protective equipment is majorly used by scientists across pharmaceutical industries for the drug formulation of different dosage forms in order to safeguard themselves from harmful chemicals such as additives or excipients, preservatives, acids, phenols as well as other aromatic chemicals, and dust, as well as fumes, which are produced during the handling of the several ingredients of the formulation.
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The pharmaceutical sector majorly uses air-purifying, disposable, as well as reusable, half-face and full-face masks. The use of respiratory protective equipment in the medical and healthcare industry is rising, owing to increasing awareness regarding airborne and communicable diseases, which is likely to drive the respiratory protective equipment market demand throughout the forecast timeframe.
The current COVID-19 global crisis has increased the demand for respiratory protective equipment in the market. The present situation is expected to result in an increased demand for RPE in the coming years.
Key reasons for respiratory protective equipment market growth:
- Rapidly growing product demand in the medical and healthcare industry.
- Growing industrial activities in the Asia-Pacific region.
- Increase in PPE production capacities due to the COVID-19 pandemic.
2026 forecasts anticipate the 'industrial' application segment retaining its dominance:
Based on application, the respiratory protective equipment market has an application scope in areas like public services, industrial, medical & healthcare, military, and aviation, among others. Among these, the industrial segment is the crucial application segment and is expected to account for approximately 65% of the industry size by 2026. The use of full-face masks can be seen in the mining industry, while supplied-air respirators that come with their own self-contained breathing apparatus are commonly used during emergency situations.
Europe to provide significant growth stimulus in terms of revenue:
Europe, in terms of revenue generation, is likely to hold over 22% of the total industry share by 2026. Factors that are driving the respiratory protective equipment market in Europe include increasing awareness regarding safety and a well-developed industrial sector. Additionally, due to the growing number of accidents and potential hazards to the workers working in the metal fabrication, mining, chemical manufacturing, and oil & gas industries, awareness regarding the safety of workers has increased substantially in recent years, and this factor is further anticipated to boost the market growth.
Moreover, one of the prime factors driving the respiratory protective equipment market in Europe is the PPE Directive 89/686/EEC laid down by the European Council, which mandates the usage of RPE in targeted work environments.
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Simultaneously, North America is a leader in overall personal protective equipment business and is forecast to hold a market share of close to 35% in 2026, owing to increased awareness about the personal safety and developed industries in the region.
Leading market players
The key market players analyzed in the respiratory protective equipment industry report include Delta Plus Group, Mine Safety Appliances, Bullard, 3M, and Honeywell International Inc. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform, offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company-level, and cross-sectional statistics that make our offering a stand-out for decision-makers.
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Respiratory Protective Equipment Market Report - 2026
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SOURCE Global Market Insights, Inc.
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