Medical headgear is an accessory device used with a protective helmet during surgery to protect the carer and patient from microorganisms, biological fluids, and pathogen granular substances. Surgical helmets have grown in popularity due to their superior features, which protect medical personnel from potentially infectious blood and aerosols produced by orthopedic power tools. The AAMI (Association for the Advancement of Medical Instruments) Protective Fence Committee has developed standards for designing a classification system for safety gear and its use when necessary. The increasing acceptance of orthopedic surgeries, such as total surgical intervention, opens up new opportunities for the surgical headgear industry. These systems are required to safeguard surgeons against infections contracted in hospitals or from patients. Besides, growing awareness of the significance of healthcare workers’ safety and surgeons’ comfort during surgical intervention has expanded the medical headgear market. However, a need for more awareness and access to these products limits market expansion in developing countries.
- Major trends Credence Research Inc. anticipates in the medical headgear market are the increasing number of orthopedic surgeries, the growing older population, and rapidly increasing product acceptance across the globe. Orthopedic surgeries are becoming increasingly popular among the elderly population. As the burden of orthopedic surgeries increases, the demand for surgical headgear grows. These procedures ensure pain-free recovery and, as a result, increase life expectancy. The development of modern medical facilities and expanded healthcare systems worldwide has increased the average lifespan. According to the WHO, the total senior population (aged 60 and older) is expected to reach around 2 billion in 2050, up from 900 million in 2019. The aging population will significantly contribute to expanding the medical headgear market.
- Another trend that Credence Research Inc. predicts continuing in the medical headgear market is manufacturers’ increased focus on design customization to meet the comfort needs of each surgeon. The need for comfortable surgical headgear has increased due to the need for surgeon comfort during medical interventions. Several factors influence surgical helmet system design to maximize surgeon comfort. These include ergonomic concerns, the use of long-lasting materials, and the development of lightweight medical headgear. Product modification and customization options in surgical helmets to address interference challenges during surgery are major driving forces in the growth of the medical headgear market.
Economic Impact Analysis
Industries suffer when the global economy slows. The medical headgears market report, 2022-2028, examines the predicted effects of the economic downturn on the major surgical product usage in the medical industry.
As per the Credence Research Inc. market report, the recession will significantly impact the global medical headgear market. The healthcare industry has been hit by one of the virus’s most significant economic effects. Healthcare spending drastically fell in 2022 compared to 2020 for the first time in the last decade. The decrease in spending was about USD 150 billion, or about 5% of personal medical spending, compared to pre-epidemic forecasts. Spending reductions have variedly impacted the various parts of the health system. Medical device companies are prepared to weather a recession even as they deal with pandemic-related challenges like staff shortages and ongoing supply chain problems.
- Ukraine-Russia War Impact
The Russia-Ukraine war, at least in the short term, hampered global economic recovery from the COVID-19 pandemic. The conflict between these two nations has resulted in supply chain disruptions, a rise in commodity prices, and economic sanctions against numerous nations, all of which impact the markets for medical devices worldwide. Prices for medical supplies in the United States could rise due to the Russian-Ukrainian conflict, as some common raw materials come from the province. Due to worsening financial sanctions, the Russian medical device industry will be negatively impacted by the Russo-Ukrainian War as most medical devices are imported from the US and Europe.
- China COVID Outburst December 2022
Medical headgear sales in 2023 will probably suffer due to COVID-19’s current situation in China. Supply chain disruptions caused by Shanghai’s lockdown have an impact on the economy of the rest of China. Economic statistics reflect the effects of regional curfews on China’s overall economy. In April 2022, China’s manufacturing output decreased by 4.6 percent, and the production of medical devices decreased by 31.8 percent compared to the previous month. These restrictions have severely hampered the supply chain of major medical headgear manufacturers. Additionally affecting market expansion is the labor shortage. The surgical equipment industry has been hit hard by the virus’s economic consequences.
North America held the major revenue share in the global medical headgears market in 2022, owing to an increase in product launches and approvals, an increase in key regional players, and a developed healthcare infrastructure. The rise in orthopedic procedures and growing safety concerns among medical professionals in the region are two major factors propelling the medical headgear market’s growth. Besides, the European regional market for medical headgear is anticipated to expand more quickly during the forecast period due to rising healthcare costs, well-established infrastructure, and increased use of cutting-edge diagnostic and surgical equipment. The emergence of portable surgical supplies and a strong focus on a shift in medical care toward home-care settings by leading domestic and international players in the region are expected to fuel the growth of the medical headgear market.
In 2022, our client, a leading player in the medical headgear market, was facing a significant drop in sales due to numerous private companies manufacturing counterfeit variants of trademark product offerings to boost sales. As a result, our client wanted to invest in developing one-of-a-kind products that would distinguish them from the competition.
The client requested to boost its sales in the medical headgear market by investing in research and development to create new product offerings. The client also asked for a review of specific product data and R&D strategies for the top market participants in medical headgear.
The client got in touch with Credence Research Inc., which helped the company grow and increase sales of medical headgear. Credence Research Inc. provided detailed and comprehensive information to the client on all aspects, including new product launches, market sizing, demand & supply, and import/export statistical data for the major regional countries. The client report also addresses the market’s competitive environment and the investment strategies used by the leading market participants at the local, regional, and global levels. In addition, we provided the client with a customized report on the major companies investing more in R&D practices for the medical headgear market. Examples of companies increasing their R&D spending to develop new products and medical technologies include Owens & Minor, Stryker, Ecolab, and Kaiser Technology.
Credence Research Inc.’s in-depth review of the medical headgear market facilitated the client to grow its revenue opportunities throughout multiple economies. The key strategies selected by the operating companies in this market are product technology development and strategic partnerships with end users. Moreover, the client was helped in choosing the appropriate medical headgear product across various application sectors and geographical areas by thoroughly analyzing key insights on technical trends, competitor R&D investments, and product launches, which allowed the client to double its sales revenue. Credence Research Inc delivers high-quality, high-value actionable insights using proven methodologies & innovative research techniques.