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Is There a Need for PPE Product Differentiation for Developing Economies?

  • August 2014
  • -
  • Frost & Sullivan
  • -
  • 77 pages

Summary

Table of Contents

Small Degree of Differentiation at Affordable Pricing is the Way Forward

As developed markets mature in PPE uptake and consumption, developing economies hold a huge untapped market potential. This market insight emphasizes the importance of developing economies as a source of growth for global PPE manufacturers and assesses the need for product differentiation for developing economies. Drivers and restraints for the globalization of PPE market are also outlined. The study analyzes key expectations of customers in developing economies from global brand manufacturers, which forms the basis of PPE product differentiation. Product differentiation is also discussed as a global perspective, and strategies for product differentiation are outlined and mapped for success in specific PPE product markets.

PPE Market Overview
-PPE can be classified into major product categories, depending on the type of protection offered.
-The following factors drive the PPE market and prompt manufacturers to upgrade and enhance product lines, ensuring market dynamism:
oChanging the workplace environment and types of hazards
oUpdates in standards and regulations
oGlobalization and changing workforce demographics
oImpact of fashion and changing customer preferences

PPE Market in Developing Economies—An Overview
-Developing economies account for a sizeable share of global PPE market revenues and continue to offer untapped potential for growth.
-In terms of volume growth and price growth, Brazil, Russia, India, and China (BRIC) offer immense untapped growth potential for the PPE market.
-Volume growth is expected to come from demand generated from slowly increasing compliance rates, growth in economy, infrastructure, better awareness, and shifting manufacturing bases. Price growth is expected to come from increasing penetration of higher-priced products from global companies into developing economies.
-North America and Western Europe are the major revenue generators of the PPE market, accounting for more than half of the market revenue. However, well-defined safety regulations enforce higher end-user compliance, rendering these markets mature for future growth.
-Most of the future growth in the PPE market is expected from developing economies, necessitating PPE companies to focus on these areas.

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