With just a dollar or two, you can get yourself a protective mask. A mask is proven to be a protective gear against the deadly coronavirus. While positive cases continue to add every day, it is important for people to put health first by wearing masks. This leads government officials to pass mask mandates that require their citizens to wear masks in public. With this mandate from the government, masks like the N95 mask became a world-wide household staple.
The N95 mask has become the most in-demand facepiece respirator. This idea of being the most in-demand mask deeply roots in the capabilities of the N95 mask. The N95 mask is capable of filtering particles and bacteria up to 95%. Aside from particles and bacteria, the N95 mask is also capable of filtering dust, mist, finer grains of sand, powdered cement, and volatile gases. Moreover, the N95 mask is water-proof and can provide a tight seal around the area of the nose and mouth. The tight seal of the N95 mask can prevent leakage to avoid contamination. With the N95 mask being the most in-demand mask, this boosted the market for the mask.
Contributors to the expanding N95 mask market
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. The pandemic greatly contributes to the growth of the N95 mask market in the United States alone. Coronavirus is deadly 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.
The Market of the N95 mask
The market is a setting wherein a number of parties gather and exchange goods and services. In simpler terms, the market is where services are offered and goods are sold. The higher the demand the larger the market.
Hospitals are the prime drivers of the N95 mask market. This is because they consume the most pieces of the N95 mask. In the United States alone, hospitals use up to thousands of masks every day.
With the hectic quarantine measures and lockdowns, people are forced to stay at home and order online. E-commerce 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, some consumers sell the N95 mask thrice the original price.
The Expanding Market of the N95 mask
The global demand for the N95 mask is anticipated to swell in overwhelming growth as the year ends. This is due to the coronavirus pandemic where facilities like hospitals are in great need of the N95 mask.
The worldwide market for the N95 mask is at US$4.1 Billion just this year and is projected to expand up to US$5.3 Billion as 2027 reaches. In the United States alone, the market for the N95 mask is at US 1.3 Billion as of this year alone. China forecasted the market for the N95 mask to grow up to US$934.8 Million as the year 2027 reaches.
Insights on the continual N95 mask market expansion
Geographically, the N95 mask market in North America as the projected shipment will reach up to 3.4 billion in the year 2025. This growth of the N95 mask market is associated with the upsurge of acute and chronic respiratory diseases. Besides, more pieces of the N95 mask will be needed as issues concerning the accessibility of hospitals and safety and hygienic measures continue to contribute to the N95 mask market expansion.
From the manufacturer’s point of view, the market competition for the N95 mask is high. This is due to numerous manufacturers of the N95 mask all over the world. There are about 400 manufacturers, which offer a variety of masks including the N95 mask. The pandemic led to the rise of more N95 mask manufacturers. This is why China is now the leading manufacturing machine with about 50% of worldwide manufacture. Manufacturers are now concentrated on the development and innovation of products that generate great results.
What does this mean to 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. However, China is now outnumbering the US in terms of production. This poses a great threat to the economy of the United States. As demanding as it is but the US needs to toughen the game in N95 mask production. Although China is capable of producing the NIOSH-approved N95 mask, the United States has to step up their game.