Global Medical Clothing Market to Hit USD 99.9 Billion at 5.9% CAGR; Covid-19 to Create New Opportunities Worldwide, says Fortune Business Insights™
Pune, India, Nov. 19, 2020 (GLOBE NEWSWIRE) — The report states that the medical clothing market size was USD 63.3 billion in 2019 and is projected to reach USD 99.9 billion by 2027, exhibiting a CAGR of 5.9% during the forecast period. North America procured USD 25.5 billion in 2019 and is set to dominate in the forthcoming period. This growth is attributable to the presence of numerous medical clothing manufacturing companies, increasing prevalence of acute and chronic diseases, and developed healthcare infrastructure. The global medical clothing market is set to gain momentum from the rising incidence of hospital-acquired infections. Besides, the rising awareness campaigns regarding the benefits of clinical clothing would affect the market positively.KEY INDUSTRY DEVELOPMENTS:January 2020 – Cardinal Health announced that it is voluntarily recalling 9.1 million surgical gowns produced by an unnamed contract manufacturer after discovering quality issues with the product. Several of these gowns were also not registered with the FDA and were not qualified by Cardinal Health.The recall includes 7.7 million gowns that were distributed to 2,807 facilities, while 1.4 million were produced but not distributed. To help allay concerns over supply shortages due to the recall, Cardinal Health increased its production of similar products as its employees work to seek alternatives. The company also stated that it is offering AAMI Level 4 gowns to help with the shortage during Covid-19 pandemic.November 2018 – Superior Uniform Group, Inc. announced its acquisition of CID Resources Inc., a Texas company that is one of the largest providers of medical scrubs in the country. For this acquisition, Superior paid USD 84.4 million in cash for CID and issued nearly 151,000 shares of the company’s stock. With the help of this acquisition, CID gave Superior Uniform Group, Inc. ownership of the fastest-growing medical uniform providers and entry into a segment of the uniform market.
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Outbreak of Covid-19 Pandemic to Surge Demand for Medical ClothingIn January 2020, the World Health Organization (WHO) declared that the outbreak of Covid-19 pandemic occurred because of coronavirus. The virus is anticipated to have its origin in snakes or bats. The WHO also tagged Covid-19 as a Public Health Emergency of International Concern (PHEIC).The Centers for diseases control and Prevention (CDC) mentioned that among all the emerging infectious disease that affect humans, around 75% of them originate from animals. Hence, the increasing concerns regarding infectious diseases are likely to boost the medical clothing market growth in the coming years. Besides, zoonotic diseases have a tendency to affect public health worldwide, especially the emerging countries owing to their lack of control strategies.However, medical clothing often has to be approved by the regulatory bodies, such as the FDA. It involved extra expenses. Therefore, it may hinder the market growth.
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Surgical Drapes, Scrubs and Gowns Segment to Lead Fueled by its Usage in Multiple Healthcare InstitutionsIn terms of product, the market is divided into protective apparel, sterilization wraps, facial protection, gloves, surgical drapes and gowns, and others. The surgical drapes and gowns segment held 33.0% medical clothing market share in 2019. This growth is attributable to their rising usage in multiple healthcare institutions stoked by their ability to protect the staff from blood-borne pathogens of the patients. Coupled with this, increasing technological advancements, rising hygiene awareness, surging patient pool, and rising awareness regarding infections would contribute to the growth of this segment.North America to Remain at the Forefront Stoked by Developed Healthcare InfrastructureThe market is geographically fragmented into the Middle East and Africa, Europe, Latin America, Asia Pacific, and North America. Amongst these, North America procured USD 25.5 billion in 2019 and is set to dominate in the forthcoming period.This growth is attributable to the presence of numerous medical clothing manufacturing companies, increasing prevalence of acute and chronic diseases, and developed healthcare infrastructure.Asia Pacific, on the other hand, is estimated to grow rapidly by exhibiting high CAGR on account of the increasing awareness programs amongst the masses regarding hygiene and safety.
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Fortune Business Insights™ lists out the names of organizations present in the global Medical Clothing Market. They are as follows:Cardinal Health, Inc.Halyard Health3M CompanyMedline Industries, Inc.Superior Uniform GroupsSemperit AG HoldingAnsell Healthcare LLCMedline IndustriesMölnlycke Health CareBarco Uniforms
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Global Medical Clothing Market Segmentations:By Product· Surgical Drapes, Scrubs and Gowns· Medical Gloves· Facial Protection· Sterilization Wraps· Protective Apparel· OthersBy End User· Hospitals & Clinics· Outpatient Facilities· Physicians’ Offices· Others By Geography· North America (U.S. and Canada)· Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)· Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)· Latin America (Brazil, Mexico, and Rest of Latin America)· Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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SECONDARY DATA SOURCES THAT WE REFER TO:Annual reports, investor presentation, SEC filings, and press releases of companies operating in the marketStudies published by relevant associations MedTech Europe; American College of Radiology; Cancer Council Australia; Japan Hospital Association, etc.), government sources (Centers for Disease Control & Prevention, Ministry of Health, Labour & Welfare, Japan; National Health Service, England, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Research Gate, NCBI, etc.Website, reports, and press releases of end user facilities – Hospitals, Ambulatory Surgery Centres, ClinicsIndustry journals and paid databasesSECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companiesDetails in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facilityNumber of procedures and average price of proceduresReplacement rate and pricing of capital equipmentMarket dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunitiesMarket & technological trends, new product developments, product pipeline.
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