The pandemic is predicted to have a positive impact on the global protective face masks market. Increasing surgeries and rise in the awareness regarding the benefits of masks is predicted to be the major driving factor for the market in the estimated timeframe. Majority of the company are focusing more in their research and development for the production of their mask as the demand of the masks is very high which is predicted to drive the market in the estimated period. For instance, In August 2020, Notion VTec garners investor interest after registration with US FDA as face mask manufacturer. The interest comes as investors continue to show interest in healthcare-linked stocks amidst the Covid-19 pandemic. During this unpredicted situation, we are helping our clients in understanding the impact of COVID19 on the global market.
According to a study conducted by Research Dive, the global protective face mask market is expected to register a revenue of $2,467.5 million till 2027, growing at a rate of 10.8% CAGR during, 2020-2027. The global market is classified depending on product, distribution channel and end use. The report provides detailed information about drivers, opportunities, restraints, segmental analysis and competitive players of the market.
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Factors Affecting the Market Growth
As per our analyst, Rise in the demand of the protective face mask across the globe due to the pandemic is predicted to be the biggest driving factor for the global market in the estimated period. Moreover, low profit margin for the manufacturer is predicted to hinder the market in the estimated timeframe.
N95 Respirators is Projected to Have Highest Market Share
Depending on product, the protective face mask market is divided into procedure mask, N95 respirators, face shields and surgical mask. N95 respirators segment is predicted to rise at a CAGR of 11.6% by generating a revenue of $392.3 million by 2027. N05 masks are safer and are helpful in protecting various types of bacteria and pollution at a most cost effective manner due to which it is predicted to drive the market in the forecast period.
Pharmacies segment is Projected to Grow Enormously
Depending on distribution channel, the protective face mask market is divided into distributors, online and pharmacies. Pharmacies segment is predicted to grow at a CAGR of 10.6% by generating a revenue of $1,048.7 million by 2027. At present, everyone needs to wear a mask to prevent being affected by the coronavirus, which is predicted to boost the segment in the projected period.
Hospitals and Clinics is Projected to Hold Maximum Market Share
Depending on distribution channel, the protective face mask market is divided into hospitals and clinics, individuals, long term care centers, ambulatory surgical centers, research institutes and other. Individual segment is predicted to grow at a CAGR of 11.5% by generating a revenue of $467.5 million by 2027. Increasing awareness among the patient regarding the usages of mask is predicted to boost the segment market in the estimated timeframe.
Regional Breakdown of the Market
Depending on region, the protective face mask market is divided into North America, Europe, Asia-Pacific and LAMEA. North America region market is predicted to grow at a CAGR of 10.4% by generating a revenue of $913.0 million by 2027. Rise in the corona cases and the rise in the customer base across the region is predicted to boost the region market in the forecast period. Moreover, Presence of major companies across the region is predicted to be the major driving factor for the market in the forecast period.
Top 10 Prominent Players in the Protective Face Mask Market are-
1. Reckitt Benckiser Group plcR
2. Polison Corporation
3. Intech Safety Private Limited
4. Mine Safety Appliances (MSA) Company
5. Delta Plus Group
6. Ansell Limited
7. Alpha Solway Ltd
8. JSP Ltd.
9. Moldex-Metric, Inc.
10. 3M
Reference: https://www.researchdive.com/press-release/medical-pendant-market.html
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