Harrisburg, NC -- (SBWIRE) -- 10/23/2020 -- This report describes and evaluates the global respiratory masks (N95 respirators, surgical masks, and others) market. It covers 2015 to 2019, termed the historic period, and 2019 to 2023 termed the forecast period, along with further forecasts for the periods 2023-2025 and 2025-2030.

The global respiratory masks (N95 respirators, surgical masks, and others) market is expected to grow from $2,860.0 million in 2019 to about $12,155.0 million in 2020 as there is a massive surge in demand owing to the preventive measures being taken across the globe against the spread of Covid-19. The market is expected to stabilize and reach $6,653.2 million at a CAGR of 23.5% between 2019 and 2023.

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The prominent players in the global Respiratory Masks market are:

Honeywell, The 3M Company, Kimberly-Clark Corporation, Ansell Limited, Owens & Minor, Inc.

Market segment by Types:

N95 Respirators; Common Grade Surgical Masks; Non-Medical Grade Masks

Global Respiratory Masks Market Overview:

Covid-19 is an infectious disease caused by a newly discovered coronavirus. Covid-19 originated in the Wuhan Province of China, in December 2019 has now spread across the world. The unprecedented outbreak of coronavirus has caused a surge in demand for respiratory masks used for prevention and precaution measures. Governments across the world are advising people, or introducing compulsory measures, to use face masks to avoid airborne particles transmission, increasing the demand for these masks.

Forecast growth in the market is of course primarily attributable to the Covid-19 pandemic. Governments, health services and individuals are looking to the market for protection amidst the pandemic, and this is set to continue as the coronavirus continues to spread without a vaccine, and countries release seek to safely release their lockdown measures. Growth is also likely to be affected by rising prevalence of airborne diseases, and the growth of online pharmacies. Factors that could hinder the growth of the masks market in the future include environmental concerns, a shortage of masks, stringent regulatory practices and increasing use of homemade masks. Growth in the historic period resulted from the increased prevalence of respiratory diseases, more surgical procedures, developing economies, rise in healthcare expenditure and an expanding geriatric population. An increased number of counterfeit products in the market negatively affected growth in the historic period.

The masks market is segmented by type into N95 respirators, common grade surgical masks and non-medical grade masks. The N95 respirator market was the largest segment of the masks market, accounting for 41.2% of the total in 2019. It was followed by common surgical masks. Going forward, the fastest-growing segments in the respiratory masks (N95 respirators, surgical masks, and others) market will be non-medical masks and common grade surgical masks, where growth will be at CAGRs of 24.13% and 23.43% respectively.

The masks market is segmented by type of end user into hospitals and clinics, individuals, industrial and others. The individual market was the largest segment of the masks market, accounting for 33.8% of the total in 2019. It was followed by the hospitals and clinics market and industrial. Going forward, the fastest-growing segments in the respiratory masks (N95 respirators, surgical masks, and others) market will be the others segment (EXAMPLE HERE) and the hospital and clinics segment, where growth will be at CAGRs of 27.7% and 23.07% respectively.

North America was the largest region in the global masks market, accounting for 39.1% of the total in 2019. It was followed by Asia-Pacific, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the masks market will be South America and the Middle East, where growth will be at CAGRs of 29.65% and 26.51% respectively.

The respiratory masks (N95 respirators, surgical masks, and others) market is highly fragmented, with many small players. The top ten competitors in the market made up to 35% of the total market in 2019. Major players in the market include Honeywell, The 3M Company, Kimberly-Clark Corporation, Ansell Limited, and Owens & Minor, Inc.
Market-trend-based strategies for the masks market include investing in biodegradable and reusable surgical masks, increasing mergers and acquisition, increasing investment in nanotechnology enabled N95 respirators, tie-ups between the government and masks manufacturers and increased demand for personalized masks.

To take advantage of these opportunities, The Business Research Company recommends in the short-term that mask manufacturers focus on managing production capacity to a level to meet global demand exporting to those countries with the largest demand. As the market stabilizes, TBRC recommends companies consider investing in producing biodegradable masks, use 3D printing technology to produce masks, focus on low-cost markets, and offering competitive pricing, among other strategies.

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Furthermore, Global Respiratory Masks Market following points are involved along with a detailed study of each point: –

– Global Respiratory Masks Market Overview, Drivers, Restraints and Opportunities, Segmentation overview

– Global Respiratory Masks Market competition by Manufacturers (2020-2030)

– Production and Consumption by Regions

– Complete profiling and analysis of Manufacturers (2020-2030)

– Manufacturing cost analysis, Materials analysis, Region-wise manufacturing expenses

– Industrial Chain, Sourcing Strategy and Downstream Buyers

– Marketing Strategy Analysis, Distributors/Traders

– Global Respiratory Masks Market Effect Factors Analysis (2020-2030)

– Global Respiratory Masks Market Forecast (2020-2030)

– Global Respiratory Masks Market Research Findings and Conclusion

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