With 5.9% CAGR, Medical Clothing Market Size worth USD 140.64 Billion in 2028
Fortune Business Insights
6 min read
According to Fortune Business Insights, the global Medical Clothing Market size is projected to reach USD 140.64 billion in 2028, at CAGR of 5.9% during forecast period; Positively Affected by Superior Uniform Group’s Acquisition of CID Resources Inc.
Pune, India, May 09, 2022 (GLOBE NEWSWIRE) -- The global medical clothing market size is expected to showcase considerable growth by reaching USD 140.64 billion by 2028 while exhibiting a CAGR of 5.9% between 2021 and 2028. This information is published by Fortune Business Insights in its report, titled “Medical Clothing Market size, 2021-2028.” The report further mentions that the market stood at USD 86.14 billion by 2020. Factors such as the rising incidence of pandemic outbreaks and the growing focus on upgrading healthcare settings will bode well for the adoption of the product globally.
Key Development:
April 2020: Halyard Worldwide, Inc. received a contract for the production of N-95 masks and gowns from the U.S Department of Defense logistic office
January 2021: Calgary Designer Nina Kharey, announced the launch of Folds. The product is a new line of sustainable antimicrobial and antiviral scrubs for several healthcare professionals.
Advent of Several Medical Clothing Players has led to a Fragmented Market
Growing Surgical Procedures at Hospitals to Facilitate the Segment Growth
Strict Regulatory Policies to Hinder the Demand for Many Types of Clothing Products
What Does the Report Contain?
The report provides vital information, including key industry drivers, trends, forecasts, and hindrances. It also contains an exhaustive investigation of all market segments, distinctly and collectively, and painstaking ideas into the regional dynamics prompting the market growth. Apart from these, the market report brings an extensive assessment of major corporations and their growth strategies.
Increasing Threats of Deadly Diseases to Boost Market
The increasing cases of fatal viruses such as Covid-19, SARS, Avian Influenza, Swine Flu, and others have urged people to take necessary precautions involving hygiene to control the spread of viruses, which, in turn, is fostering the medical clothing market growth. Most of the RNA viruses, such as swine flu, bird flu, and coronavirus, can adapt and change hosts by infecting complex biological systems such as humans. Thus, to contain such viruses, the requirement for medical apparel is accelerating among healthcare practitioners. Moreover, the increasing research and development activities involving the study of lethal viruses’ requisites expertise and highly protective medical clothing, which, in turn, will further aid the growth of the market. In addition, the awareness about epidemic and pandemics coupled with medical exploration will create opportunities for the medical apparel industry.
Surgical Drapes, Scrubs and GownsSegment to Lead Fueled by its Usage in Multiple Healthcare Institutions
In 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.
High Production and Distribution of Medical Apparel to Augment Growth in Asia Pacific
Asia Pacific is expected to experience massive growth during the forecast period. The improving healthcare infrastructure coupled with awareness about patients' safety and hygiene will boost the market in the region. Moreover, the increasing manufacturing of medical products by prominent players will have an outstanding impact on the market. In addition, the presence of medical apparel manufacturers in emerging countries such as India and China incite development in Asia Pacific. Latin America, and the Middle East, and Africa are expected to experience steady growth due to the increasing healthcare investments by governments in the regions.
Competitive Landscape:
Adoption of Strategies by Eminent Companies to Consolidate Business
Many companies are adopting innovative strategies such as mergers, acquisitions and partnerships to remain at the forefront. For instance, in March 2019, Halyard Worldwide, Inc., a part of Owen & Minor Inc., entered into a three-year partnership contract with Vizient, Inc. for its facial protection products. Moreover, key players are also focused on regional openings, pricing, and other attributes because of the industry's highly competitive nature. Moreover, the increasing number of infections has insisted businesses to produce more protective equipment for the masses, which further intensifies competition and aids growth for medical clothing.
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