Global Medical N95 Respirators Market is valued at USD 593 Million in 2018 and expected to reach approximately USD 1300 Million by 2025 with the CAGR of approximately 8.4% over the forecast period.
Medical N95 Respirators are used for covering nose and face for the protection against the airborne particles or liquid contamination on the face which could cause deadly diseases. In today’s time when COVID is rising at its full power, this is something which is required by all the health and social workers. Although the Centers for Disease Control and Prevention (CDC) does not recommend the general public to use this mask for the prevention even if it COVID, because this is basically for the use of people who are in the highly contaminated areas.
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Key Players of the global Medical N95 Respirators market:
By Distribution Channel
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The increasing opportunity factor which can now be seen is the low breakeven point for the demand and supply of the N95 medical masks. At this time the industries are not able to produce enough according to the demand which is being received from the consumer end. Therefore, it is an opportunity market for the other manufacturers who can jump in and manufacture the masks. This will also provide a market for the import and export because of the worldwide shortage. The small end players can also play a high-end role for the profit purposes.
North America seen to hold prominent share: Can demand and supply be matched?
North America Medical N95 Respirators Masks is likely to grow with the CAGR of 6.81%. A significant and prominent share in the global medical N95 market is being held by North America and all the credit goes to the existing mask producing firms in U.S. which are in present there in large numbers. however, because of the current Covid-19 situation this particular market is seeing a higher demand in the products than the supply which is being generated. This was also amongst one reason why the CDC department recommended the public not to purchase and use the N95 medical masks. However, the fear amongst the public is increasing regarding the disease which is leading to a drastic increase in the demand of the masks and the industry is suffering to match the demand and the supply. Moreover, Owing to the continuously increasing demand for the N95 Mask (due to corona pandemic). Companies like 3M and Honeywell will double their production capacity in 2020. Currently, HONEYWELL is producing 20 Million Mask monthly in U.S.
The European Medical N95 Respirators Masks Market is expected to register a fast growth over the forecast period. Factors that are responsible for the growth of this market include high healthcare spending and increasing prevalence of respiratory disorders.
The COVID-19 pandemic has created an intense demand for respiratory protection equipment’s across the world. Although the manufacturing companies are seeing the benefit of entering this market with respect growing demand but it is also to see till when the market remains in the same phase. This is because nobody knows the future demands. Considering the current market scenario, the market would work well with respect to conditions for meeting the arising demands from the consumer end. As the people are growing to be more aware of the measures for the protection required, the general public is also wanting to invest in the healthier and more durable means.