Medical Coveralls Category Intelligence
Report Coverage
- Market Analysis
- Global Market Outlook
- Value Chain Analysis
- Sourcing Practices
Production Size
Global Production Size/ Capacity
$1.61 billion (2019)
Expected Global Production Size/ Capacity
3.02 Bn by 2030
North America Production Size
$640 million
Medical Coveralls Market Trends
Category Intelligence on Medical Coveralls covers the following
- Information relating to market, supply, cost, and pricing analysis
- Hard to find data on cost and TCO models, supplier details, and performance benchmarks
- Macroeconomic and regional trends impacting cost, supply, and other market dynamics
- Category-specific negotiation and sourcing advice
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Industry Outlook & Drivers
Medical Coveralls Global Market Outlook:
MARKET OVERVIEW:
- Global market size – $1.61 billion (2019)
- Expected to grow at a CAGR of 5.9 percent to 3.02 Bn by 2030
Key End-use Industries:
Pharmaceuticals, healthcare (major market share) and chemicals
Market Trends:
- Emergence of new health threats a) COVID-19, A(H1N1), SARS, bird flu, Ebola, etc.
- Stringent regulations for making coveralls mandatory for workers safety
Porter's Analysis on Medical Coveralls
Supplier Power
- Fragmented Market: The supplier market for coveralls is fragmented due to the presence of various players from the low cost countries. Coveralls demand is higher than supply however due to the regulatory measures, suppliers are having low or medium bargaining power in the coverall market.
Barriers to New Entrants
- Regulated Industry: The market is a highly capital intensive and regulated, so barriers to entry are higher. However, the recent outbreak of coronavirus opens up high potential opportunities for new players to enter the market due to the huge demand and support from regulatory bodies to boost the production.
Intensity of Rivalry
- The supplier base is highly fragmented with more players entering the market due to the recent virus outbreak. Manufacturers are also continuously expanding capacity by introducing additional production lines to cater to the demand, however the expensive machinery and expertise required in making the coveralls make it a competition intense market. The above trends leave the intensity of the rivalry as high among suppliers.
Threat of Substitutes
- The coveralls used in medical industries are mostly manufactured by the guidelines issued by the regulatory authorities and are allowed in the market only after approval. Raw materials are crucial for differentiating the purpose of different coveralls. Therefore threat of a substitute is low in terms of the specific coverall market, however new technologies and innovations by top players can be considered as a threat to current low key market players.
Buyer Power
- The gap in supply-demand along with the absence of sufficient options results in less buyer bargaining power.
- Due to the outbreak, the demand for coveralls has increased, however due to low availability, buyers are having very less or no option. Buyers are having low to medium bargaining power due to this demand supply gap issue.
