According to a new study by Grand View Research, Inc., the global N95 mask market size is anticipated to hit USD 21.57 billion by 2027. At a CAGR of 45,1 percent from 2020 to 2027, it is projected to grow.
It is expected that the rapid spread of the COVID-19 pandemic across the world, combined with the growing cases of infectious respiratory diseases such as SARS, MERS, and H1N1 influenza, will push the market.
The N95 mask without exhalation valve was the market leader by-product and accounted for 73.0% of total sales in 2020 because of the high safety efficiency provided by the product during inhalation and exhalation.
Due to the rapid penetration of the internet and e-commerce platforms in developing countries, and benefits such as ease and convenience associated with the channel, the online distribution channel is likely to grow at the fastest CAGR of 54.0 percent from 2021 to 2027.
Because of the predominant usage of N95 masks in the construction industry by employees for safety against dust, fumes, gases, and vapors, the construction end-user segment accounted for the largest revenue share of 36.5% in 2020.
The United States is expected to expand at the fastest CAGR of 70.7 percent in the Asia Pacific market from 2021 to 2027 due to growing awareness of N95 masks, especially during the pandemic, coupled with rising domestic production of N95 masks.
Demand for N95 respirators worldwide has increased due to increasing incidents of respiratory infectious pandemic diseases such as COVID-19 and H1N1. In ensuring the safety of frontline staff, such as nurses, first responders, and medical professionals, N95 respirators are essential.
In addition, the use of N95 respirators for frontline employees has been required by many healthcare regulatory bodies across the globe. Moreover, due to the rising understanding of the transmission and control of COVID-19, demand for N95 respirators is on the rise among the general population. All these factors are contributing significantly to the growth of the global demand for N95 respirators.
Major Five N95 Respirators Companies:
Through segments such as Safety and Industrial, Transportation and Electronics, Health Care, Consumer, and Corporate and Unallocated, 3M Co. operates its sector. The company offers a line of NIOSH certified products such as Particulate Respirator 8210, N95 160 EA/Case that offers filtration efficiency of at least 95 percent against certain non-oil related particles.
Cambridge Mask Co.
Through the Unified segment, Cambridge Mask Co. operates its company. The company provides a variety of products such as N95 Simple MASK in black with laboratory-tested filtration technology filters for up to 90 hours of usage for over 95 percent of emissions, gases, and bacteria, and viruses.
Cardinal Health Inc.
Pharmaceutical and Medical, Cardinal Health Inc. operates its business. The company offers a line of cost-effective Surgical N95 Respirators that comply with the TB safety guidelines of the Centers for Disease Control and Prevention (CDC) and is NIOSH certified to have a philter efficiency rating of 95 percent or greater against oil-free particulate aerosols.
Honeywell International Inc.
Honeywell International Inc. conducts its business across sectors such as Aerospace, Honeywell Construction Technology, Materials, and Technologies for Performance and Solutions for Safety and Productivity. The company provides a line of items to defend against airborne particulates, such as 801 N95 disposable masks.
Ansell Ltd. manages the organization across divisions such as Industrial and Healthcare. Several NIOSH N95 licensed products such as the GAMMEX N95 Respirator and Surgical Mask are provided by the company, which filters to 0.1 microns and protects against the harmful effects of surgical smoke.
As per the market research report from Technavio, the global market for N95 respirators is projected to rise by USD 382.90 million. A business downturn in the first half of 2020 is exposed in the study of the market effect of COVID-19. However, in the coming quarters, the impact would steadily diminish. Moreover, healthy growth is expected to continue throughout the forecast period, and at a CAGR of almost 9 percent, the market is expected to rise.
Based on the upstream and downstream markets, we analyzed the effect of COVID-19 on the product industry chain in Chapter 3.5.
From demographic conditions and business cycles in a given country to industry-specific microeconomic effects, a systematic analysis of the market is carried out by considering some variables. In terms of regional competitive advantage and the competitive environment of major players, the study described a change in business paradigms.
Market Insight, Drivers, Restraints & Opportunity of the Market:
The N95 is a type of protective device (class II medical device) that is mainly used to fight infectious diseases in healthcare settings. These N95 masks are designed to provide very close contact with the face and superior airborne particle filtration. The classification 'N95' means that the masks remove at least a 95 percent risk of very tiny (0.3 microns) test particles being swallowed. It can't remove the possibility of infection entirely, however.Factor to the growth of the market: The rising concern about infectious diseases such as COVID 19, Hantavirus, is a factor contributing to the growth of the industry. COVID 19 is currently seen as a global pandemic, claiming about 0.4 million lives worldwide. Conversely, during emergencies, product recalls, shortages and black markets of N95 masks (such as in COVID 19) may limit the growth of the global market for N95s in the coming period.