Market Overview The protective clothing for life sciences was valued at USD 2491. 7 million in 2018, and is expected to reach USD 3,586. 0 million by 2024, registering a CAGR of 6.
New York, Feb. 26, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Protective Clothing Market for Life Sciences Industry - Growth, Trends, and Forecast (2019 - 2024)" - https://www.reportlinker.com/p05865761/?utm_source=GNW
1%, during the period of 2019-2024. Generally, the relative growth of the life sciences segments is linked to the expenditure of the regional markets for healthcare and innovation. Currently, almost all economies, especially developing economies are increasing their spending on healthcare and innovation.
- In the life sciences industry, where safety and isolation from the external environment are considered to be a pre-requisite, the use of protective clothing has become mandatory. The Occupational Safety and Health Administration (OSHA) have been at the forefront of publishing standards for ensuring continual improvement of health and safety at workplaces. Other organizations, such as APIC (Association for Professionals in Infection Control and Epidemiology) and AAMI (Association for Advancement of Medical Instrumentation) offer widely accepted classification systems for use of protective apparel based on the surroundings.
- There is a continuous growth in healthcare spending. According to a report from AltarumCenter for Value in Healthcare, in 2016, 2017, and the first half of 2018, total health expenditure and spending on US healthcare services have been growing at annual rates between 4.3% and 4.8%.
- According to IEEE, with 33% of people who are more than 60 years old in 2050, healthcare systems, centered on the dependent persons, represent an important challenge for the future. So, there has been continuous automation in this sector. For instance, the application of optimization, scheduling, simulation, and modeling approaches to improve healthcare systems.
- However, increased demand for outsourcing and automation in pharmaceutical Manufacturing may hinder the market growth.
Scope of the Report
The life sciences sector can be broadly categorized into three major segments, namely pharmaceutical, biotechnology, and medical technology (devices and diagnostics). Protective clothing is often seen as a last line of defense for providing safety to workers from the environment. Owing to the emerging trend in the pharmaceuticals market, demand for protective clothing to be used in the preclinical and early-phase drug is expected to experience increased demand. For example, the Chinese market in addition to traditional medicine is vibrant with preclinical and early-phase drugs, and it is a growing nucleus of biotech activity and creates opportunities in the region.
Key Market Trends
Disposable Clothing Type to Dominate the Market
- For lab technicians and others who are needed to maintain sterile environments or otherwise require protection from contaminants, the need for protective clothing emerges.
- However, when there is a need to protect oneself from harmful substances, as well as to make sure those substances would not track anywhere else, disposable garments and products are the economical alternatives to the fabric.
- According to the WHO 2018 report, non-communicable diseases (NCDs), such as cardiovascular disease, cancer, diabetes, and chronic respiratory diseases are currently responsible for almost 71% of global deaths. Such instances indicate the opportunity for growth in the healthcare sector in these segments and regions, which is expected to indirectly impact the market over the forecast period, positively.
- The increasing number of clinical trials in the life sciences industry is expected to fuel the demand for the protective clothing market over the forecast period.According to the National Institute for Health Research, the highest number of participants was recorded during 2018–2019, with 870,250 registering for clinical research across England.
Asia-Pacific to Witness the Highest Growth
- Asia-Pacific is emerging as one of the fastest-growing markets, aided by proactive measures taken by the regional governments of countries, like India and China, to develop local manufacturing and innovation centers.
- These markets have witnessed several regulatory reforms with regard to drug manufacturing and approvals.
- They also have an emerging scope for medical tourism, since people are traveling to these countries due to the increase in quality services and technological advancement in the healthcare and medical sectors. According to the Medical Tourism Association, the cost saving is 90% when a patient gets treated in a developing country, rather than his/ her home (developed) country.
- According to the Microsoft Asia News Center, Asia-Pacific’s healthcare organizations track business improvements of up to 21% due to digital transformation.
- Moreover, in August 2019, DuPont Safety and Construction launched the Kevlar and Tychem hand protection portfolio of glove and sleeve solutions in the Indian market. The solution is designed to increase workplace protection in hazardous environments from automotive applications to sanitation, manufacturing, and subsurface oil and gas exploration. The company is offering reliable hand protection solutions to meet the latest industry standards.
The healthcare market can be characterized by rising costs, demand for high-quality products, and the need for market expansion, to compete with the unstable economic conditions in several regions. The companies, like E. I. DuPont de Nemours and Company, Kimberly Clark Corporation, Ansell Limited, and 3M Company design and manufacture clothes to protect medical personnel from serious workplace injuries.
- April 2019 - Honeywell acquired Norcross Safety products LLC., a manufacturer of personal protective equipment (PPE) for approximately USD 1.2 billion. The acquisition is expected to provide Honeywell a complete platform in a fragmented, global segment that is expected to yield substantial growth opportunities. Investing in Norcross allows Honeywell to fully participate in the broad and highly regulated industrial safety marketplace.
- December 2018 - Kimberly-Clark announced the voluntary recall of U by Kotex Sleek Tampons, regular absorbency throughout the United States and Canada. The recall is limited to the specific consignment of U by Kotex Sleek Tampons, Regular Absorbency, which was manufactured between October 7, 2016, and October 16, 2018, and distributed between October 17, 2016, and October 23, 2018
- October 2018 - In an effort to help clinicians in the fight against SSIs, 3M is introducing 3M SoluPrep Film-Forming Sterile Surgical Solution – a 2% chlorhexidine gluconate and 70% isopropyl alcohol surgical skin prep that uses 3M technology to help clinicians in the fight against SSIs.
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