Yahoo Finance Medical Mask Market to Rise at 8.5% CAGR and Hit USD 2.15 Billion till 2027 Driven by Growing Investments in Product Manufacturing, says Fortune Business Insights™
Key Prominent Players Covered in the Medical Mask Market Research Report Are 3M (U.S.) , Honeywell International Inc. (U.S.) , Halyard Worldwide, Inc. (U.S.) , KCWW (U.S.) , Henry Schein, Inc. (U.S.) , ANSELL LTD. (Australia) , Cardinal Health (U.S.) , Prestige Ameritech (U.S.) , Other Prominent Players
Pune, India, March 09, 2021 (GLOBE NEWSWIRE) -- The global medical mask market size is projected to reach USD 4.11 billion by the end of 2027. The increasing incidence of coronavirus across the world will have a huge impact on market growth. According to a report published by Fortune Business Insights, titled “Medical Mask Market Size, Share & Industry Analysis, By Type (Surgical Mask, Respirators, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and Regional Forecast, 2020-2027,” the market was worth USD 2.15 billion in 2019 and will exhibit a CAGR of 8.5% during the forecast period, 2020-2027.
Industry Developments:
April 2020: Sandler Group announced that it will be investing in the production of the non-woven line of production of respirator mask. The company plans to manufacture around 800 million masks; a step that was taken to cater to the growing demand.
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An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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Medical masks are widely used in hospitals, clinics, and other diagnostic centres by healthcare professionals. The ability of these products to stop spreading of infectious and contagious diseases has created a huge demand for the product in recent years. The increasing use of the product, owing to the awareness of safety and preventive measures will contribute to the growing demand. Variations in product offerings will have a huge impact on the growth of the market in the coming years.
The cost-effectivity of the product, coupled with the ease of availability, has been influential in the growth of the market. Medical masks can prevent spreading of infectious diseases such as pneumonia, influenza, and the coronavirus. The high prevalence of viral diseases has been a primary factor that has contributed to the growing demand for the product across the world. Facemasks possess around 90-95% efficiency, and given their price tag, it has emerged as most cost-effective way of viral disease prevention.
Emphasis on Distribution of PPE to Aid Growth
The report encompasses several factors that have contributed to the growth of the overall medical mask market in recent years. The increasing prevalence of viral diseases and infections has been a primary factor that has influenced the growth of the market. But most recently, the coronavirus outbreak has created a huge demand for personal protective equipment (PPE) across the world.
The coronavirus has spread to 80% countries across the world and the number of infected cases crossed 2.7 million. This pandemic has created a huge awareness regarding preventive measures. During these pandemic, governments as well as private organizations are putting in several efforts for distribution of personal protective equipment in several countries across the world.
In April 2020, the US Department of Justice and the US Department of Health and Human Services announced that it has initiated the distribution of PPE, including a total of 192,000 NHH-95 masks to healthcare workers across New York and New Jersey.
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North America to Emerge Dominant; Increasing Covid-19 Cases Will Aid Market Growth
The report analyzes the ongoing market trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, the market in in North America is likely to emerge as the dominant region, owing to the growing incidence of coronavirus infections in several countries across this region.
As of April 2020, the United States has reported the highest number of coronavirus cases. The increasing demand for medical mask in several countries across this region will open up a huge potential for the companies operating in the regional market. As of 2019, the market in North America was worth USD 0.93 billion and this value is projected to increase further in the coming years. Besides North America, the market in Asia Pacific will also witness considerable growth due to the rising coronavirus cases in numerous countries across the region.
Key Players Operating in The Medical Mask Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
3M (U.S.)
Honeywell International Inc. (U.S.)
Halyard Worldwide, Inc. (U.S.)
KCWW (U.S.)
Henry Schein, Inc. (U.S.)
ANSELL LTD. (Australia)
Cardinal Health (U.S.)
Prestige Ameritech (U.S.)
Other Prominent Players
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Table of Contents :
Introduction
Market Scope
Market Segmentation
Market Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Overview: Guidelines for Usage of Medical Mask Market
Snapshot of Types of Medical Mask
Prevalence of Associated Respiratory Disease
Key Industry Developments - Mergers, Acquisitions, and Partnerships
Global Medical Mask Market Analysis, Insights and Forecast, 2016-2027
Key Findings / Summary
Market Analysis, Insights and Forecast – By Type
Surgical Mask
Respirators
Others
Market Analysis, Insights and Forecast – By Distribution Channel
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Market Analysis, Insights and Forecast – By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
Number of procedures and average price of procedures
Replacement rate and pricing of capital equipment
Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
Market & technological trends, new product developments, product pipeline.
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