Bizizz Market Research has recently published a research report, “Face Mask Market by Product Type (N95 Mask, Basic Face Mask, Fluid/splash Face Mask, Antifog Surgical Mask, and Others) by Distribution Channel (Online Store, Drug Store, and Hospital & Clinics) and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Face Mask Market was valued at US$ XX Mn in 2018 and it is anticipated to reach at market value of US$ 1.4 Bn by 2027, witnessing a CAGR of 9.3 % during the forecast period. Key drivers of the market are rising awareness regarding benefits of wearing face mask and massive demand owing to coronavirus pandemic
In response of massive demand for face masks owing to rising cases of corona patients, the manufacturers are engaged in maximizing their production capabilities which is likely to fuel the growth of global market during the forecast period. Moreover, rising incidents of lung diseases are expected to poise a positive impact on the market growth.
The Face Mask Market Is Anticipated To Register A CAGR Of Over 9.3 % During The Forecast Period.
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Basic Face Mask Dominated the Global Market Whereas N95 Masks are Anticipated to Witness Lucrative Growth During the Forecast Period.
On the basis of product type, basic face masks occupied significant share in 2018. This is mainly due to comparatively lesser cost and easy availability. Moreover, N95 masks are projected to grow rapidly in coming years. These masks provide very effective filtration from airborne particles.
Asia PacificIs Anticipated To Witness Rapid Growth During the Forecast Period
In terms of region, Asia Pacific held noteworthy share in 2018. The region is projected to grow at a compound annual growth rate of 11.2 % between 2019-2027. The Chinese companies have maximized their production capabilities at a large extent owing to huge demand from different regions and shortage of face masks in medical stores across the globe.
The global market is highly fragmented with several local and few global players. Companies are focused on strategic alliances and partnerships with other players intended to expand their global footprint which is expected to strengthen their market foothold in future. Moreover, the manufacturers are expanding their production capabilities to cater to the rising demand from several countries.
Prominent players operating in the Global Face Mask Market are: Key Surgical, DYNAREX, CREATIVE CONTRACT (M) SDN BHD, Henry Schein, Inc., Sterimed, 3M, Halyard Health, Inc., Cardinal Health, Berkley Surgical Company, Molnlycke Health Care, Medline Industries, Inc., and Fisher Scientific, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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