According to the report, the global N95 masks market size is projected to surpass around US$ 6.3 bn by 2028.
Global N95 masks market size was valued at US$ 2.3 Bn in 2020 and growing at a CAGR of 11% during the forecast period 2021 to 2028.
The market growth can be primarily attributed to the ongoing COVID-19 pandemic due to which, the demand for personal protective equipment around the world has witnessed exponential growth. Narrowing the gap between demand and supply of N95 masks continues to remain a priority for participants involved in the N95 masks market. The evolving regulatory landscape and the growing focus on boosting the domestic production capacity are some of the major factors projected to influence the overall growth of the N95 masks market during the forecast period.
N95 mask, also known as N95 respirator, can be defined as the respiratory protective device employed to achieve a very close facial fit and very efficient filtration of airborne particles. N95 indicates the ability of the mask to block at least 95% of the very small test particles. The rise in demand for N95 masks can be attributed to the growing pandemic of coronavirus, healthcare professionals advocating the use of N95 masks by everyone to avoid infections, rise in levels of air pollutions, and an increase in respiratory diseases among people. Furthermore, increasing geriatric population fuels the demand for N95 masks.
North America dominated the global N95 masks market in 2020. The trend is anticipated to continue during the forecast period. The expansion of the market in the region can be attributed to the significant rise in the number of people being affected with the novel coronavirus. Additionally, increase in focus of market players on enhancing their production facilities to cater to the rising demand for N95 masks further boosts the global market.
Focus on Enhancing Manufacturing Capabilities
Leading market players, such as 3M and Honeywell, are focused on enhancing their manufacturing capabilities, owing to a rise in the demand for N95 masks attributed to the global coronavirus pandemic. This, in turn, would enable them to cater to the rising demand and consolidate their position in the N95 masks market. Enhancement of manufacturing capabilities by these market players is essential to strengthen their market position, as the demand for N95 masks is likely to remain consistent in the near future due to the prolonged fight against the pandemic. In March 2020, 3M entered into partnership with Ford Motor Company to increase the production of 3M’s powered air purifying respirators, or PAPRs. 3M and Ford entered a collaboration to combine their complementary capabilities and resources in order to cater to a surge in the demand for personal protective equipment. Furthermore, the company doubled its production of N95 respirators at a rate of nearly 100 million masks per month, or more than over 1.1 billion per year. In the U.S., the company has been producing over 35 million respirators per month with 90% of these masks designated for healthcare workers.
N95 masks with Valve Segment Dominated Global Market
In terms of product, the with valve segment is projected to account for a major share of the global N95 masks market during the forecast period. The breathability of the N95 masks is enhanced with the presence of the valve.
Entry of Several Small-sized Startups to Drive N95 Masks Market
Several leading and medium-sized N95 mask manufacturers are currently focusing on expanding their production output to cater to the demand. Several government agencies as well as organizations are extending support to increase production amid the ongoing health crisis. The allocation of funds and other resources for large-scale manufacturing of N95 masks is on the rise to address various challenges in the supply chain. For instance, the U.S. Air Force (USAF) issued a US$ 125 Mn contract to 3M in order to expand the supply chain and produce N95 masks in larger quantities. As per the agreement, 3M will manufacture around 26 million additional N95 masks per month. Similar initiatives around the world are expected to empower and accelerate the production of N95 masks.
The surge in the demand for personal protective equipment and diagnostic kits to fight the COVID-19 infection has resulted in the entry of several small-medium-sized startups who are inclined toward the production of N95 masks. For instance, in April 2020, an IIT Delhi startup announced that it is on course to supply N95 masks at cost-effective rates and exploring funding opportunities to ramp up production. Several nations, including India and China are restricting the export of ventilators, surgical masks, and raw materials required for the production of N95 masks.
Export Restrictions Imposed by China and Taiwan to Create Bottlenecks in Supply Chain
While countries in the Asia Pacific region are largely focusing on catering to the domestic demand, manufacturers in North America are emphasizing on increasing the overall production output. In Asia, nations such as India, China, and Taiwan are imposing stringent export restrictions on the export of melt-blown material due to the growing demand from domestic markets. These changes in the N95 masks market landscape across China and Taiwan have played a key role in disrupting the global N95 supply chain. Sourcing raw materials from China continues to remain a major barrier for N95 manufacturers due to which, several consignments and orders are delayed or on hold worldwide.
The global N95 masks market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global N95 masks market in 2020. The U.S. was a major market for N95 masks in the region in 2020. The expansion of the market in the region can be attributed to the rise in the prevalence of chronic and infectious diseases and surge in focus of market players on expansion of production capabilities of N95 masks in order to cater to the rising demand. The N95 masks market in Asia Pacific is expected to expand at a high CAGR from 2020 to 2028 driven by developing countries such as China and India. The expansion of the market in the region can be attributed to the increase in levels of air pollution and surge in medical tourism in the region. Furthermore, a rise in the number of local players entering the market to expand their manufacturing facilities for N95 masks is likely to augment the market during the forecast period.
Focus on Enhancing Manufacturing Capabilities by Key Players to Propel Global Market
The global N95 masks market is fragmented in terms of number of players. Key players operating in the global N95 masks market are 3M Company, Kimberly Clark Corporation, Honeywell International, Inc., Henry Schein, Inc., Medline Industries, Inc., Ansell Limited, Cardinal Health, Prestige Ameritech, Kowa Company, Ltd., and Alpha Pro Tech.
By Distribution Channel
The N95 masks market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of N95 masks market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global N95 masks market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the N95 masks market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted N95 masks market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the N95 masks capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of N95 masks by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global N95 masks market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major N95 masks market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of N95 masks market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the N95 masks industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
N95 masks market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to N95 masks market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of N95 masks market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new N95 masks market. These factors have benefited the growth of the global market for N95 masks. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for N95 masks. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of N95 masks are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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