Medical Mask Market: Hospitals captured around half of overall medical mask market revenue
There has been an increasing demand for medical masks recently, creating an absolute opportunity for growth of the Medical Mask market. A new Future Market Insights (FMI) report reveals that the global medical mask market will experience a major upturn post 2020, and further reaching over US$ 9 Bn by the end of 2030.
Medical facility highly depends on medical mask during surgeries. The availability of different versions of mask for different applications across different end-users, such as ambulatory surgical Centre’s, hospitals, dental settings, etc., are expected to fuel the growth of the medical mask market throughout the forecast period. Consistent growth in the number of surgeries performed globally is boosting the demand for anesthesia mask and laryngeal masks, which is expected to contribute to the growth of the medical mask market during the forecast period.
Increasing number of infectious diseases and pollution as well as growth in the number of surgeries worldwide are providing further impetus to the growth of medical mask market.
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The COVID-19 Impact on Medical Mask Sales
The novel coronavirus (COVID-19) pandemic has put a huge strain on the medical mask market, with the gap between supply and demand gradually widening. COVID-19, being primarily a respiratory disease, makes it imperative to incorporate personal protective equipment (PPE) such as medical masks for both, medical professionals and general public. This is both a challenge and opportunity for market players, which are focusing on scaling up production capacities in order to satiate the rapidly growing demand.
Key Takeaways of Medical Mask Market Study
- In terms of product type, N95 respirators are expected to contribute over 25% of revenue in the medical mask market.
- Owing to low product cost and demand, surgical mask is the most preferred choice among costumers.
- Surgeries dominate the medical mask market by application, as medical professionals mostly prefer medical masks during surgeries to avoid contamination.
- In terms of end user, hospitals are expected to capture over 50% of share in the medical mask market during the forecast period.
- North America is the highest revenue generating market by region due to well-established and sophisticated healthcare infrastructure. East Asia is expected to offer lucrative opportunities owing to rapid healthcare programs and flourishing medical facilities.
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Leading Manufacturers Focus on Mergers & Acquisitions
Leading manufacturers in the medical mask market are focusing on regional mergers & acquisitions to enhance their product portfolio and expand their regional presence. For instance, in 2019, Examinetics announced its collaboration with Moldex-Metric Inc. to offer online respirator clearance evaluations. In 30 march 2020, the company moved quickly to expand its production capacity for N95 masks and start its new operation in Phoenix.
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Medical mask market, a new study from future market insights, opines on the application of Medical mask from 2015 – 2019 and presents demand projections from 2020 – 2030 on the basis of; product type (surgical mask, N95 respirators, face mask, full-face mask, laryngeal masks and anesthesia masks), application (respiratory safety, infections disease, allergies and surgeries) and end user (hospitals, academic & research institutes, diagnostic laboratories, individual) across seven prominent regions.
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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