N95 Masks Market to hits $ 4,925.80 million by 2028 | COVID-19 Impact and Global Analysis

November 26 17:28 2021
N95 Masks Market to hits $ 4,925.80 million by 2028 | COVID-19 Impact and Global Analysis
Lucrative Regions for N95 Masks Market
N95 Masks Market to Grow at a CAGR of 14.5% to reach US$ 4,925.80 million from 2021 to 2028

According to The Insight Partners new research study on “N95 Masks Market Forecast to 2028 – COVID-19 Impact and Analysis – by Product, Distribution Channel, and End User,” the market is expected to reach US$ 4,925.80 million by 2028 from US$ 1,914.54 million in 2021; it is estimated to register a CAGR of 14.5% from 2021 to 2028. 

Strategic Insights:

Report Coverage              Details

Market Size Value in  – US$ 1,914.54 Million in 2021

Market Size Value by   – US$ 4,925.80 Million by 2028

Growth rate     – CAGR of 14.5% from 2021-2028

Forecast Period  – 2021-2028

Base Year     – 2021

No. of Pages      – 161

No. Tables          –  83

No. of Charts & Figures –  72

Historical data available – Yes

Segments covered         – Product , Distribution Channel , and End User ; and Geography

Regional scope  – North America; Europe; Asia Pacific; Latin America; MEA

Country scope  –  US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage      –  Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Face masks are a particular type of personal protective equipment designed to reduce the respiratory exposure of the wearer to dangerous substances such as toxic chemicals or infectious particles. N95 masks are capable of blocking at least 95% of the airborne particles larger than 2.5 microns, including particles or droplets carrying viruses and bacteria, thereby protecting people against respiratory tract infections and diseases.

Prevalence of COVID-19

COVID-19 is a contagious disease that is transmitted through the nasal and oral cavity. Since its emergence, SARS-CoV-2, the causative agent, has undergone mutation a couple of times, which has added to the severity of the COVID-19 pandemic. Right from the initial phases of this crisis, the World Health Organization (WHO), as well as health authorities from many countries, has been instructing healthcare professionals and the general public to use facial masks that lessen the chances of viral transmission from infected persons or carriers to healthy populations. Thus, the demand for masks has increased exponentially since 2020. The governments and regulatory bodies are insisting on the continuous use of masks in public places. As a result, the demand for N95 masks has also increased. As per COVID-19 tracker data by the Centers for Disease and Control (CDC), as of August 17, 2021, the seven-day case rate per 100,000 is 270.6, and over 113,993 new cases are reported in the US. Moreover, as per the European Centre for Disease Prevention and Control, as of August 12, 2021, the total count of COVID-19 cases reached ~35,381,520 in the European Economic Area (EEA).

COVID-19 pandemic on the market across all the regions. There has been a tremendous rise in the demand for N95 masks in the regions during the pandemic. To tackle the shortage, regulatory agencies such as USFDA have given revised guidelines regarding the PPE. The agency has liberalized the product approval procedures to facilitate early product availability in the market. Various market players of non-healthcare businesses are involved in the hospital gowns’ productions to fulfill the high demand. The existing players are ramping up the production and supply chain for the hospital gowns in the region. However, in the current scenario, various counterfeit N95 masks of the branded companies are being marketed. The government has issued an alert regarding the same. For instance, Health Canada issued a warning regarding counterfeit 3M N95 respirators/masks. 

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Based on product, the N95 masks market is segmented into without exhalation valve and with exhalation valve. In 2021, the without exhalation valve segment accounted for a larger share of the market. However, the demand for N95 masks with exhalation valve is expected to grow significantly owing to the high efficiency of protection provided during inhalation and exhalation. Various government bodies, such as the WHO, the CDC, and health ministries across several countries are encouraging the usage of such masks to prevent the spread of the virus from an infected individual.

Based on end user, the N95 masks market is segmented into construction, manufacturing, healthcare, mining, oil and gas, and others. The construction segment would hold the largest share of the market in 2021, whereas the healthcare segment is estimated to register the highest CAGR in the market during the forecast period.

N95 Masks Market: Competitive Landscape and Key Developments

3M Company; Kimberly-Clark Corporation; Medline Industries, Inc.; Cardinal Health Inc; Ansell Limited; ALPHA PRO TECH, LTD.; Honeywell International Inc.; The Gerson Company; Medisca Inc.; and Moldex-Metric are among the leading companies operating in the N95 masks market.

These companies are adopting inorganic and organic growth strategies to expand their global footprints and product portfolio to meet the rising demands for N95 masks. In January 2021, 3M has raised its annual production rate to 2.5 billion N95 respirators, a fourfold rise over 2019. In 2020, the company manufactured 2 billion respirators globally.

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In September 2020, Moldex- Metric, Inc., a manufacturer of N95 masks, planned to open a new manufacturing facility in Wilson County. Moldex-Metric, Inc. planned to take over an existing building in Lebanon and build an additional distribution center on the 21-acre site creating 220 job opportunities.

In January 2021, 3M has raised its annual production rate to 2.5 billion N95 respirators, a fourfold rise over 2019. In 2020, the company manufactured 2 billion respirators globally.

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