The global pandemic of COVID-19 had a devastating effect on the world’s economy. In only a couple of months, 90% of industries have declined significantly. This claim can be supported by the fact that the unemployment rate is skyrocketing in every country in the world. Naturally, some of the industries have collapsed completely, and they require some serious measures that will provide these with some significant growth in months and years to come.
We are talking about tourism and hospitality. These two are devastated due to all the effects of the pandemic. Almost every country in the world advises its citizens not to travel to other countries, due to the danger that this virus represents. We can see that will last for a really long time. So, it needs to be said that we will need for a couple of years that these effects will last longer than we are hoping for. But it should be said that some industries that haven’t experienced so many negative effects.
The first industry that comes to everybody’s mind when talking about one which will not have too many negative blows, is the IT industry. However, it needs to be said that this is not the only one. We can see that the PPE market witnessed a significant rise in the last couple of months. Knowing the fact that this situation will be around for a couple of years in the future, we can presume that it will continue to rise in the future.
This is nothing that should surprise you too much since there is so much need for medical equipment and all the measures of precautions due to the dangerous medical situation. If you are not introduced to the concept of the PPE market, and you don’t know what kind of products are available in it, you can visit this website by RB Medical and take a look at some of the most common products you can find in it. At the beginning of the global pandemic and all that it represents, this market has been inflicted with a serious blow.
However, this change has been experienced in recent months. So, now the predictions are that the world PPE market will touch $92.86 billion by 2027. In order to provide you with an idea of how big this rise is, we would like to say that the world PPE market was worth $52.43 billion in 2019, a couple of months before the global pandemic unleashed. So, you cannot do anything but think what changed in these two or three months, so, this market has changed its perspective.
What’s Behind This Rise?
Well, the production of these products and services risen significantly and this had a significant positive impact on the industry’s growth. The reason why this market grows is that there are a lot of precautions that need to be taken for the future. All of the governments around the world have decided to buy some of the equipment upfront to be ready for future dangers. So, you can get a perfectly good idea about what’s behind this rise. The most important reason is that the workplaces will be preserved in the highest percentage.
There are a couple of reasons why this is so important. First, it needs to be said that the medical staff will be highly important in the future since the global pandemic will not be finished in the foreseeable future. Sure, the vaccine will be able to resolve this situation completely. We can see that there are some talks about vaccines and medicines that are now available, but this is not something that we are sure in completely. The PPE industry consists of medical equipment. So, it doesn’t come as a surprise that it witnessed skyrocketing growth in 2023.
We can all agree that this global pandemic is an unprecedented situation in the history of the world health industry. All of the governments have decided to impose different measures, with lockdown being one of them. Naturally, having a complete lockdown of the country has some severe effects on the country’s economy. So, we can see that a plethora of industries has experienced this kind of decline. We can see that a lot of them were inflicted with so many severe blows that it will take almost a decade for them to recover.
At the same time, the PPE industry experienced a rise. One of the reasons is that the WHO, the World Health Organization has issued measures that cannot be performed without a lot of equipment that needs to be produced. In order to reach the proper level of production, it needs to be said that the production needs to reach 40% on the global level. The result was the collaboration between many countries and companies in the PPE market. Reaching this level is a pretty complex challenge, but that doesn’t mean that it is impossible to accomplish it.
The Disposable Masks Market
One of the most common medical equipment we can see in the streets is disposable medical masks. Without a doubt, with so many sales of these products that have risen in the last couple of years, we can only presume how much money got into this market. When you look back at the production of these masks, we can see that there are only a handful of companies that produce these masks. However, this production has grown massively in the last couple of months.
We can see that there are more than 9,000 different mask-producing companies only in China. Also, many other countries like Vietnam and other Asian counties have done the same. It needs to be said that, unfortunately, this is a pretty good opportunity for their future growth. Since this situation is not going to be over soon, we can be sure that the mask production will continue for many years to come.
Even though the world is not in the best situation, we can see that not all of the industries are not in such a bad situation. Therefore, we can only presume that the PPE industry will continue to rise in the future.