With growing concerns of a PPE shortage, talks of fake PPE on the market and brands left right and centre helping to manufacture gloves/masks etc, the PPE market has exponentially grown. However, just how valuable has Covid-19 made the industry? Mandatory PPE for everybody means the constant replacing of masks/gloves and the bulk buying of it from medical organisations and giant corporates. PPE has quite literally become life saving equipment, but what monetary impact will this have on our dependency of the industry in years to come?
Statistica recently published Fortune Bussiness Insights’ data which looked into the value of the personal protective equipment market worldwide from 2019 to 2027 in billion U.S. dollars…and the growth is substantial.
In 2019 when talk of Covid-19 gradually started picking up, the market was worth $52.43bn and has seen almost a $4bn increase in 2020. From 2021 – 2023 the market is expected to grow from $60.48bn to a staggering $69.78bn, a huge increase of just under $10bn! From just 2023 – 2024 they expect the market to increase by just over $5bn to $74.94bn and in 2025 to $80.49bn. 2026 could witness the market at heights of $86.4bn and finally 2027 is estimated to take the crown with the PPE market being valued at a mammoth $92.86bn.
Just how big is $92.86bn? Such great numbers are hard to put into perspective. Lets visualise it…
$1bn facts we found to wow you:
- A billion $1 notes would cover 2,555 acres OR if you put the $1 notes in a trail (end to end) it would be about 96,900 miles long!
- If you were to save $100 a day, it would take you 10 million days to save $1bn aka 27,387.28 years – hold out for the lottery maybe?
- If you spent $1000 a day, it would take you 2,740 years to spend $1bn
Baffled as much as us? Let us know your thoughts on the PPE market – firstname.lastname@example.org!