N95 Mask is a respiratory protective device designed to achieve protection from airborne particles. The 95 mask when carried are expected to block at least 95% of 0.3 micron test particles. Although these respirators are not oil-proof.
Global N95 Masks Market is valued at USD 740.24 Million in 2018 and expected to reach approximately USD XXXX Million by 2025 with the CAGR of approximately 8% over the forecast period.
Market Dynamics and Global Supply-Demand Chain
The U.S. and China are among the most affected countries by COVID-19 and are also among the largest masks producers in the world. China owns the capacity to produce more than 8 billion units annually and hold approximately 50% share of the global N95 mask production. The U.S. market consisting of the second most number of mask producers in the world after China. However, even after such a huge production capacity, these markets are falling short to cater to even domestic demand. Hence, cars, electronics, and diapers manufacturing facilities are converted and re-tooled to produces N95 masks. For instance, Zettl Automotive an automotive part manufacturer has re-tooled its leather seat manufacturing facility to produce surgical masks to cater to increased demand.
The leading companies including 3M and Prestige Ameritech have increased their production capacity to cater to increasing demand generated due to pandemic. For instance, on 30th March 2020, 3M announced it has doubled its production of N95 to 1.1 billion per year.
How Europe is dealing with the situation?: Apart from the U.S. and China, Europe is another most COVID 19 affected region. Based on European standards FFP2 masks are considered as alternatives for N95 masks and demand for these masks is mostly catered by Chinse manufacturers. For instance, LVMH a luxury goods manufacturer ordered 40 million health masks from Chinese distributors to cater to increasing demand. Italy requires around 3 million masks per day during the current situation and most of this demand id fulfilled from Chinese import.
The COVID-19 outbreak compel manufacturers to constant mass production of masks. Honeywell, 3M, Prestige Ameritech, Shanghai Dasheng, Te Yin, DACH Schutzbekleidung GmbH are some of the leading mask producers across the globe.
Counterfeit Products are Likely to Hamper the Growth Of Market During COVID 19 Outbreak
The emergency and huge demand for N95 masks have paved the way for counterfeits to enter into the supply chain. Several health care facilities and medical centers reported receiving counterfeit products labeled as N95 masks. Immediate shortages of N95 created an opportunity for scammers to sell counterfeit products into the market. Till 26th February 2020, China seized around 30 million face masks which were supposed to spread over 37 countries across the globe.
Apart from the temporary rise in demand, the global N95 mask market is likely to witness decent growth during the upcoming years owing to several advantages over other respiratory protective devices. However, the economic disruptions resulted from COVID 19 outbreak are likely to hamper the growth of the market during late 2020 and 2021. Respiratory protective devices such as N95 are an inevitable part of the healthcare chain and is the primary driver for the growth of the global N95 market.
Key Company Profiles
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