The market for medical masks was valued at USD 2.15 billion in 2019 and is anticipated to grow to USD 4.11 billion by 2027, at a CAGR of 8.5%. The increasing incidence of coronavirus across the world will have a huge impact on market growth. According to a report published by Fortune business Insights, titled “Medical Mask Market Size, Share & Industry Analysis, By Type (Surgical Mask, Respirators, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and Regional Forecast, 2020-2027,” the market was worth USD 2.15 billion in 2019 and will exhibit a CAGR of 8.5% during the forecast period, 2020-2027.
Industry Developments:
April 2020: Sandler Group announced that it will be investing in the production of the non-woven line of production of respirator masks. The company plans to manufacture around 800 million masks; a step that was taken to cater to the growing demand.
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Medical masks are widely used in hospitals, clinics, and other diagnostic centres by healthcare professionals. The ability of these products to stop the spreading of infectious and contagious diseases has created a huge demand for the product in recent years. The increasing use of the product, owing to the awareness of safety and preventive measures will contribute to the growing demand. Variations in product offerings will have a huge impact on the growth of the market in the coming years.
The cost-effectivity of the product, coupled with the ease of availability, has been influential in the growth of the market. Medical masks can prevent the spreading of infectious diseases such as pneumonia, influenza, and the coronavirus. The high prevalence of viral diseases has been a primary factor that has contributed to the growing demand for the product across the world. Facemasks possess around 90-95% efficiency, and given their price tag, it has emerged as the most cost-effective way of viral disease prevention.
Emphasis on Distribution of PPE to Aid Growth
The report encompasses several factors that have contributed to the growth of the overall medical mask market in recent years. The increasing prevalence of viral diseases and infections has been a primary factor that has influenced the growth of the market. But most recently, the coronavirus outbreak has created a huge demand for personal protective equipment (PPE) across the world. The coronavirus has spread to 80% of countries across the world and the number of infected cases crossed 2.7 million. This pandemic has created a huge awareness regarding preventive measures.
During these pandemics, governments, as well as private organizations, are putting in several efforts for the distribution of personal protective equipment in several countries across the world. In April 2020, the US Department of Justice and the US Department of Health and Human Services announced that it has initiated the distribution of PPE, including a total of 192,000 NHH-95 masks to healthcare workers across New York and New Jersey.
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