The ‘New Normal’: Medical Mask Sales on an Upswing, as Manufacturers Focus on Mitigating Supply-Demand Challenges

Future Market Insights, Dubai: 2020 will be a remarkable year for diagnostic tests, personal protective equipment (PPE), and various critical medical supplies. Medical masks also witnessed a sudden leap in demand, followed by supply chain disruptions and logistical delays, further causing massive shortages. Medical mask manufacturers are thus pressurized to ramp up production levels amid the global COVID-19 pandemic.

Sales of medical masks are set to account for a
valuation worth over US$ 4 Bn in 2020, witnessing annual growth of around 9.8%.
According to the latest report by Future Market insights (FMI), emergence of
medical face masks as the most popular choice for coronavirus protection is
leading to an unprecedented spike in sales. Simultaneously, panic buying and
stockpiling practices amid COVID-19 related disruptions have shown fragility in
access to medical masks.

Surgical
Masks Mainstay for COVID-19 Protection, N95 Respirators Close in

As the novel coronavirus is characterized by
respiratory tract infection, surgical masks continue to witness higher demand –
accounting for 2/5th of the total sales. Given consideration to growing
preference for N95 respirators for their effective protection against the
highly contagious disease, public health authorities are urging manufacturers
to increase their production.

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“In
the current scenario, demand for medical mask is significantly outpacing its
supply and driving shortages across the globe. Health authorities are therefore
issuing guidelines for rational use of medical masks and retailers are
rationing the product to curb the current shortages, which in turn may result
in market stability,”
says the FMI
analyst
.

North
America at the Epicenter of COVID-19 and Massive Demand

The U.S. is currently the worst-hit country by
COVID-19 pandemic, and the number of cases continues to defy gravity. The
result is leading to a manifold increase in demand for medical mask and other
PPE. In addition to supporting local manufacturers to increase production
levels, Food and Drug Administration (FDA) has issued an Emergency Use
Authorization (EUA) allowing the import of N95 respirators (non-NIOSH-
approved) from several countries. News has also been forthcoming for lifting
restrictions on the import of KN95 masks from China.

North America continues to maintain its dominance
with 40% share of the global market value in 2019. A sudden rise in demand is
also witnessing from Europe, which is expected to outperform the former market
by 2020-end.

The FMI study offers near- and long-term growth
outlook of the medical mask market.
Gain access to
FMI’s exclusive COVID-19 tracker here.

Source:
Future Market Insights

FMI Blog

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