The N95 mask market is projected to grow from USD 857.98 million in 2019 to USD XXXX.XX million by 2025, at a CAGR of 8% during the forecast period 2020-2025.
Impact of Covid-19
The N95 masks are the part of personal protective equipment, which helps to filter out more than 95% of bacterial, virus and airborne particles from inhalation. Increasing demand for personal protective equipment including face masks, owing to outbreak of global pandemic such as Covid-19 across the globe. With the rapidly increasing global cases of coronavirus in more than 200 countries, N95 face masks are witnessing the strong demand in the world. Amid to the coronavirus, the demand for N95 mask has increased by 10 fold. E-commerce websites such as eBay and Amazon are also running out of N-95 masks.
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On the basis of product type
Without Exhalation Valves
With exhalation valves segment expected to held the largest market share in the year 2020. The N95 masks with exhalation valves are specifically designed to prevent the inhalation of bacteria, viruses and other airborne particles. These masks help for easy breathing than the masks without exhalation valves. In addition to this, the N95 masks with exhalation valves help to maintain the face cooler by reducing the moisture level of face. Furthermore, with the recent out outbreak of Covid-19, the N95 masks with exhalation valves are witnessing the rapid growth, further boosting the market growth.
On the basis of distribution channel, N95 mask market is classified into rattail pharmacy, drug stores, and online stores. The online stores segment projected to grow at the highest CAGR of 11.65% over the forecast period. Connivance to buy the N95 masks from the online marketplace and verity of options available to choose from, are some of the factor driving the growth of market.
On the basis of end use, the market is segmented into hospitals & clinics, personal care/individual, and others. The hospital and clinics segment is likely to dominate the global N95 mask market in the year 2020. The increasing demand for N95 mask from the hospitals and clinic, with increasing Covid-19 cases. The healthcare professionals are demanding the N95 mask and other personal protective equipment to treat the patients of coronaries. However, there is huge shortage of N95 masks in the hospitals across every country in the world. Thus, to fulfil the demand, many government have encouraged the manufacturers to supply the masks in the hospitals.
The North America region is anticipated to hold the largest market share of global N95 mask market in the year 2020. Currently U.S. has the largest number of Covid-19 cases of total
3,67,461 and total deaths of 10,910. Thus, there is a huge demand for N95 masks in the region. Furthermore, the North America is witnessing the tremendous shortage of face mask and has only 1% of masks of total required mask. Thus, the U.S. government is increasing the manufacturers to increasing the production of N95 mask to fight the Covid-19. Furthermore, in the March 2020, the U.S. government announced that they have ordered 500 million N95 masks to fill the supply demand gap.
Asia Pacific region is projected to grow at the highest CAGR of 12.56% over the forecast period. The China is the largest manufacturer of face mask in the world. However, with initial outbreak of Covid-19 in China, the production and export of face mask were slowed down. As the China is recovering from the global pandemic, Chinese companies have increased the production capacity of face masks by 15 fold to meet the demand of the word.
Key Company Profiles
With the increasing demand for N95 masks, many companies such as 3M and Honeywell have doubled their production of masks to fulfil the demand supply gap. In March 2020, Honeywell announced that it has expanded the expanded the production capacity of N95 masks by adding manufacturing capabilities in Phoenix, U.S. This production capacity is expected to produce more than 20 million masks per month to fight COVID-19 in the U.S.
During the same period, 3M announced that the company has doubled the production of N95 mask at an annual rate of more than 1.1 billion a year.
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