Surgical Masks and N95 Respirators - Key Value Creators
The novel coronavirus pandemic is a respiratory tract infection. As such, demand for medical masks, especially surgical masks, and N95 respirators, has remarkably increased. While N95 respirator mask particulate are highly preferable among healthcare professionals, given their excellent effectiveness, affordable cost of surgical masks is enabling their broader adoption amongst the general public.
Together, both these medical masks procure over 60% value share, and the trend will continue through 2029. Furthermore, market players are investing in face, and full-face masks, which find application in academic and research institutes.
Opportunities Prevail in Developed Regions
North America and Europe have been the test beds for tech-driven transformations in the healthcare industry. In addition, governments in both the developed regions have been significantly increasing their healthcare expenditure in an effort to facilitate patients with better care delivery. The COVID-19 spread has overwhelmed the healthcare systems, particularly in countries - Italy, Spain, and the US. The epidemiological numbers continue to rise, thus, accenting for the need of medical masks for both, medical professionals, and general public.
Government-backed Initiatives to Offer Impetus to Market Growth
Governments and non-profit organizations worldwide are allocating resources and coordinating standards in order to spur innovation and production of medical masks. Case in point, Honeywell International Inc. has expanded its production capacity for N95 respirators and began new manufacturing operation in Phoenix on government’s call.
On similar grounds, the Chinese government is providing funding for the establishment of manufacturing facility for production of medical masks. Such initiatives would upgrade existing standards and identify gaps in the industry, thereby boosting the revenue pool of medical mask market.
How Growth will Unfold
In 2019, hospitals captured around half of overall medical mask market revenue, primarily attributable to prolonged hospital stays, and rise in surgical procedure rates. However, FMI reveals that this figure is likely to drop markedly over the decade ahead. By 2029, market players will create over US$ 5 Bn from hospitals.
Moving on, manufacturers are substantially shifting their focus toward research and academic institutes. Researchers require medical masks during various research activities in order to avoid contaminations and ensure protection from harmful molecules. Furthermore, both, hospitals and research and academic institutes, will share equal divide in the medical mask market.
MEDICAL MASK MARKET TAXONOMY
The global medical mask market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
By Product
- Surgical Mask
- N95 Respirators
- Face Mask
- Full-Face Mask
- Laryngeal Masks
- Disposable Laryngeal Masks
- Reusable Laryngeal Masks
- Anesthesia Masks
- Disposable Anesthesia Masks
- Reusable Anesthesia Masks
By Application
- Respiratory Safety
- Infections Disease
- Allergies
- Surgeries
By End User
- Hospitals
- Diagnostic Laboratories
- Research and Academic Institute
- Individual
- Others
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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