Market Size of COVID-19 Safety and Prevention Products
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.20 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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COVID-19 Safety & Prevention Products Market Analysis
The COVID-19 Safety and Prevention Products market is expected to register a CAGR of 7.2 % over the forecasted period (2021 - 2026). The growth is primarily fueled by the rising cases of COVID-19 over the since early 2020, and the demand for these products is expected to increase after the lockdown imposed by several nations. As per UNCTAD's latest report, the end of January 2020, nearly 20 countries reported cases of COVID-19, which was risen to 54 by the end of February, 202 by the end of March, and almost 212 countries in May 2020.
- Additionally, strong public health measures and surveillance capacity have become an essential factor to prepare, prevent, and respond to health emergencies. Preventive products such as face masks, sanitizers, gloves, non-contact thermal imagers have reported a surge, for instance, as per WHO, as of March 2020, globally, 89 million units of masks and 2.9 million liters of hand sanitizers have been used every month by frontline healthcare workers.
- Further, on the treatment front, the requirement of ventilators, oxygen masks, and isolation chambers has been on the rise. Multiple countries have reported a shortage of ventilator availability, thus, creating pressure on the manufacturers. With factory lockdowns and rising cases, the essential "deemed" industries have been operating at underutilised capacities, an addition to production and thereby supply-related delays.
- Also, in the wake of increasing cases and forecasts, multiple non-allied industries and companies have stepped into the manufacturing of ventilators, masks, sanitizer packagings, thermometers, to name a few. For instance, in the United States, around4,400 ventilators were produced as of May 2020, a result of the Defense Production Act, and ZOLL Medical Corporation and VYAIRE Medical Inc. jointly had to supply additional 2,210 machines.
