A lot of people already wear helmets and cycling gloves. All you really need extra are knee pads, elbow pads and shoulder pads. BMXers already wear shoulder pads and full head helmets.
So all that stuff is already available. No real need to reinvent the wheel.
But you really don't need them if motorists would only driver better like they do in Denmark, the Netherlands and Japan where cyclists don't need to wear helmets.