Prior to the worldwide covid-19 outbreak, the market for the N95 mask had expanded across the Pacific and the Australian continent. This was when the Philippines had a volcanic eruption and the wildfires ignited all across Australia. Now that the pandemic is here, the market for the N95 mask continues to expand; knowing that there is no exact date as to when the pandemic will end.
The demand for the N95 mask surely has erupted at such overwhelming rates; to the point that the supply has to be doubled each and every month due to its demand. Medical experts in the United States have projected the total number of used N95 masks to be used in the following years. In their projection, hospitals will be using around 14 million pieces of the N95 mask if the pandemic worsens.
But why the N95 mask?
The N95 mask is best known for its protection. Being the most recommended mask, the N95 mask is proven to filter up to 95% of free-floating particles like dust, smoke, and strains of viruses and bacteria. The N95 mask prevents those particles from infiltrating everyone’s lungs. What’s good about the N95 mask is that it is FDA and NIOSH approved. The N95 mask is guaranteed to prevent the particles from infiltrating the lungs and develop several complications.
The Expanding Market for N95 mask in the United States
Earlier 2019, the market for the N95 mask in the US was estimated at around $810.0 million. With the pandemic and the rapid upsurge of the level of pollution in the air, the market is estimated at around $1,627.5 million by the time it reaches the year 2025. With the given estimated digits, the market gets doubled. In addition, vaccine trials are still on the roll and are yet to be released in public. This gives a clear idea that the demand for N95 masks will continue to surge in the coming months.
What are the markets of the N95 mask?
For starters, the Market is a setting where a number of parties gather and exchange goods and services. With the definition provided, the market refers to a place where services are offered and goods are sold. The higher the demand, the larger the market. Here are some markets for the N95 mask.
Predictable as it is but the hospital is the driver of the market growth in this time of need. With the pandemic, hospitals need more supplies of Personal Protective Equipment (PPE), especially the N95 mask. Nurses, Doctors, and other medical personnel need a lot of stocks of the N95 mask. In fact, US hospitals use up to a million pieces of the N95 mask on a daily basis. This makes hospitals as the prime mover for the market of the N95 mask.
With the intense quarantine measures and lockdowns, people are forced to stay at home and order online. In fact, eCommerce activity increased at an overwhelming rate due to its convenience. Now, this comes in the issue of impulsive buying and price gouging. Since the N95 mask is in high demand, consumers purchase bulk stocks of the N95 mask. Though this contributes to market growth, there are some consumers who sell the N95 mask thrice the original price.
For those who do not like the idea of waiting for a week or two before the N95 mask arrives, drug stores are their way to go. Aside from medicines, medical supplies like the N95 mask are also sold in drug stores. A lot of people purchase the N95 mask from drugstores because the mask is for sure legit and not counterfeit.
With these markets, they make up a larger component of the N95 mask market. However, there is a great threat to the N95 mask market growth. The demand overshadowed the supply itself. That is why manufacturers of the N95 masks like 3M continuously make efforts to meet the demands for the N95 mask.
What makes the market for the N95 mask grow even bigger?
There are several contributions of nature as to why the N95 mask grows even bigger and it continues to expand at such overwhelming rates.
The Pandemic. It is already given. The pandemic greatly contributes to the growth of the N95 mask market in the United States alone. Coronavirus is a deadly virus that is why the N95 mask is needed for it helps lessen the transmission. People from all walks of life buy the N95 mask due to the protection it offers.
Worsening Air Pollution. In the year 2019, about 70 million tons of pollutants were released into the air. Aside from filtering strains of viruses and bacteria, the N95 mask is also capable of filtering dust, smoke, smog, and other tiny particles that can endanger the lungs of humanity. Not only that, but the N95 mask is also capable of protecting the wearer from volatile and harmful chemicals.
What does this mean to the economy of the United States?
As the market for the N95 mask continues to expand and grow, it means greater sales and a solid reputation. This is why 3M became the largest and the most trusted brand not only in producing medical-grade N95 masks, but also quality medical equipment. In fact, the North American region contributes to the largest market for the N95 mask in the year 2019. How much more this year?