The global COVID-19 pandemic
is expected to generate high demand for essential medical supplies, including
personal protective equipment, including medical masks. The trend is expected
to continue through the latter part of 2020. On the other hand, the medical masks industry is facing notable shortages in supplies, owing to
disruptions in the supply chain and in adequate logistical infrastructure.
Consequently, manufacturers are forced to surpass their conventional and
contingency capacities, and move towards maintaining crisis capacity standards,
during the coming months.
According to a new
report by Future Market Insights (FMI), the sales of medical masks are expected
to expand 2X and surpass a value pool of US$ 9 Bn by the end of 2030, following
a major upturn post 2020, and the coronavirus pandemic. The COVID-19 outbreak
has forced manufacturers to concentrate their efforts towards bridging the
growing gap between demand and supply. Expanding production capacities is a
challenging opportunity for manufacturers, following the unprecedented rise in
sales figures. On the other hand, practices of hoarding medical mask supplies
by the public is a major problem for the industry in terms of accessibility.
Surgical Masks Favored;
N95 Variants Gain Traction
primarily affects patients through a respiratory tract infection. Consequently,
surgical masks retain a high level of demand, accounting for 35% of the overall
revenue. N95 respirator masks are largely preferred by healthcare
professionals, owing to a high level of efficacy, and affordable cost, which is
boosting adoption rates even among the general public. These masks are expected
to witness higher production rates, following the introduction of favorable
public health policies.
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increase in the COVID-19 patient volumes is severely challenging the existing
capacities of manufacturing facilities, creating notable shortages around the
world. Government bodies such as the CDC are consequently issuing preparedness
guidelines, including surge capacity frameworks to prioritize medical mask
conservation throughout the treatment period,” says the FMI
North America to
Generate Massive Revenue amid the Pandemic
North America has
rapidly become one of the largest markets for medical masks, as the United
States has become one of the hardest hit nations in the coronavirus pandemic. The
U.S. has surpassed 1,000,000 confirmed cases; with thousands more being added
every day. This has resulted in a significant increase in the demand for PPE
such as medical masks. Retailers in multiple countries have run out of stock,
while prices in online platforms has skyrocketed.
East Asia and Europe
are also expected to continue providing highly remunerative opportunities.
China continues to have a high number of coronavirus cases, despite steady
decline in recent weeks. The EU is also
witnessing a spike in demand, with overwhelmed healthcare systems in Italy and
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