N95 Masks Market: Introduction
According to the report, the global N95 masks market was valued over US$ 3.5 Bn in 2020. It is projected to contract at a CAGR of -4.2% from 2021 to 2030. N95 mask is an air-purifying, particulate respirator that helps reduce the wearer's inhalation exposure to certain airborne particles. Increase in cases of COVID-19 in 2020 boosted the demand for N95 masks in 2020. Therefore, key players are investing to increase the production of N95 masks, thereby creating significant opportunities in the market.
Investment by key players to strengthen their position is likely to create significant opportunities in the market. For instance, in January 2021, Protectly.co announced partnership with Pacific PPE Corp. to deliver N95 masks to consumers at a time when they are most needed. Most end users are moving toward disposable face masks. N95 masks have been witnessing a paradigm shift toward disposable face masks over reusable ones. This shift can be attributed to the advantages of disposable face masks such as higher protection, elimination of the need of sterilization, and reduction of cross-contamination. Additionally, these are cost-effective and prevent contamination. Thus, key players are engaged in offering disposable N95 masks. This, in turn, is estimated to offer significant opportunities in the N95 mask market.
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North America dominated the global N95 masks market in 2020. The trend is anticipated to continue during the forecast period. Focus of market players on increasing production capacities and government funding & contracts to expand the production of N95 mask is likely to boost the market in region. The robust expansion of the market in the region can be attributed to significant rise in the number of people being affected with the novel coronavirus.
Asia Pacific is likely to be a highly lucrative market for N95 masks. The market in the region is expected to expand at a high CAGR during the forecast period. Opportunities that exist for development of mining resources and infrastructure is likely augment the market in the region.
Rise in Health Concerns to Drive N95 Masks Market
The recent outbreak of coronavirus has increased the demand for N95 face masks globally. Most countries across the globe are witnessing a shortage of masks, and the demand is at an all-time high. The demand for N95 masks is projected to increase during the forecast period, as people are more concerned about health. The rise in transmission of infectious diseases among people, owing to various reasons, including increase in number of microorganisms causing respiratory diseases, and surge in the number of mutants of a single species contribute to health concerns among the people. The usage of face masks has been increasing in order to avoid a range of respiratory diseases. This, in turn, boosts the global N95 masks market.
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N95 Masks without Valve to Dominate N95 Masks Market
In terms of product, the global N95 masks market has been classified into with valve and without valve. The without valve segment accounted for a major share of the market in 2020. It is estimated to maintain its dominance during the forecast period. The low cost of these masks as compared to the with valve masks boosts the higher volume sales of these masks.
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North America to Dominate N95 Masks Market
In terms of region, the global N95 masks market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global N95 masks market in 2020, followed by Europe. North America accounted for a major share of the global N95 masks market in 2020. Well-established healthcare infrastructure, presence of key players, and increase in focus of companies on expansion of production capabilities of N95 masks to cater to the rising demand are anticipated to boost the market in the region. In April 2020, Honeywell International, Inc. began production of N95 face masks in Smithfield, R.I. This has enabled the company to supply masks to the U.S. Department of Health and Human Services for the Strategic National Stockpile to support health, safety, and emergency response personnel.
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The N95 masks market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period. Rise in awareness, increasing pollution, and surge in COVID-19 cases lead to higher usage of N95 masks. This, in turn, is anticipated to drive the market in the region. According to the World Health Organization, 12,584 new cases and 10,479,179 confirmed cases of COVID-19 were recorded in India as of January 2021. Moreover, government initiatives to improve healthcare infrastructure is likely boost the market in the country.
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Google has recently updated its Ad policies to open up the sale of N95 masks again.
Google has stated that it has, ‘determined that it is now appropriate to allow N95 masks in the US and a selection of approved N95-adjacent masks globally to be listed on our Shopping ads and free listings’.
