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The global protective face masks market registered a revenue of nearly $1,073.1 million in 2019, and is anticipated to grow at 10.8% CAGR, surpassing $2,467.5 million by 2027.
The patient handling equipment market is predicted to have a positive impact due to the pandemic. Increasing cases of corona rises the demand of protection mask across the globe is predicted to drive the market in the forecast period. On the other hand, lesser profit margin is predicted to hinder the market in the forecast period.
MARKET STATS
| CAGR Pre COVID-19 |
CAGR Post COVID-19 |
Realtime BPS | *Estimated market Size, 2020, Pre COVID |
**Real Time market Size, 2020, Post COVID |
|---|---|---|---|---|
| 10.2% | 10.8% | 59 | USD 1,176.5 Million | USD 1,205.6 Million |
* The numbers are estimated prior to the COVID-19 Pandemic in 2020
** The data will vary depending on upcoming developments announced by the operating players
KEY ASPECTS OF THE INDUSTRY
BOOMERS AND DECLINERS
Rise in the demand for protective masks is predicted to drive the market in the estimated timeframe. Increasing uses of mask for the safety of the people, which helps them in preventing bacteria and pollution effects is predicted to boost the global protective face mask market in the estimated period. Due to lesser profit margin, most of the companies are not interested in getting into manufacturing of masks which is predicted to hinder the market growth in the estimated period.
Most companies are focusing more on developing protective masks, which is predicted to create more investment opportunities for the players to invest in the market in the estimated timeframe. For instance, Switzerland’s Federal Institute of Technology Lausanne (EPFL) and Laboratories for Materials Science and Technology (Empa) have developed a transparent face mask which lets the other person see behind the PPE masks. These masks are developed keeping in mind countries like Spain and Italy which have a compulsion of wearing masks in public places.
CONSTRUCTING BRIDGES
APPLYING WISDOM
Increasing cases of corona across the globe is predicted to drive the market in this pandemic period of time. To prevent themselves from the corona virus people are using various protection mask which is believed that it will slow down the transmission process among the people. However there are no specific vaccine or treatment for the COVID-19 treatment. It has been noticed that corona cases are increasing drastically due to which the demand for protection mask is also increasing and boosting the global protective face market in the pandemic.
Majority of companies have increased the production of the masks as the demand of the mask is very high which is predicted to create more growth opportunities in the estimated period. For instance, in august 2020, Arizona PPE Company started mask production at Mesa facility. The mask production will add about 200 jobs. Masks will be available to retailers and distributors within a span of time and will be available in all sizes for adults and children.
MANAGING SUCCESS AMIDST
THE PANDEMIC STRESS
Increasing dependency of the people for protective masks is predicted to be the major driving factor for the global protective face mask market in the estimated period. With the increasing usage of online platforms and rise in e commerce, the demand for the mask is going to be very high as the users are getting multiple products under one roof. This is predicted to boost the global protective face mask market in the estimated period.
Increasing concern among the people for safety is predicted to boost the market in the estimated period, as these masks help in prevent and block the viruses, bacteria and many other pollutants from entering the nose or mouth. Since health care institutions are at a higher risk of bacteria and viruses, masks at such places are used in high amounts. Increasing demand of these masks in the healthcare institutions is predicted to be the one of the major driving factors for the market in the estimated period.
How can we help you?
Our group of skilled analysts provide a solution to help the companies to survive and sustain in this global pandemic. We support companies to make informed decisions based on our findings resulting from the comprehensive study by our qualified team of experts. Our study helps to acquire the following:
- Long-term and Short-term impact of Covid-19 on the market
- Cascading impact of Covid-19 on the Protective Face Masks Market , due to the impact on its extended ecosystem
- Understanding the market behaviour pre- and post-Covid-19 pandemic
- Strategic suggestions to overcome the negative impact on your business or turn the positive impact into an opportunity
