Exponential Rise in Demand amid COVID-19 Pandemic to Augment Market Growth

Surgical masks are predominantly used by healthcare professionals while performing surgeries or medical procedures. While the demand for personal protective equipment witnessed consistent growth prior to the novel COVID-19 pandemic; however, in the current scenario, the gap between the demand and supply for N95 masks and other types of protective medical gear continues to widen at a rapid pace. As the number of COVID-19 cases around the world continues to spike, several N95 masks manufacturers are increasingly finding new ways to ramp up the production speed and roll out more products. In addition, as N95 respirator masks are primarily designed for high-risk environments and highly effective in restricting viruses from spreading.

In the current scenario, due to the shortage of N95 masks globally, N95 mask manufacturers have largely focused on expanding their production capacities and bridging the gap between demand and supply. Prior to the pandemic, China produced nearly half of the global N95 masks. However, countries around the world have witnessed a surge in the number of N95 mask manufacturers during the COVID-19 pandemic, as more number of companies are diversifying their product range to fulfill the growing demand for N95 masks.

The raw materials required to manufacture N95 masks such as melt-blown fabric is largely sourced from China, which indicates the role of China in the supply chain of N95 masks. The COVID-19 pandemic is one of the leading factors that is expected to drive the global N95 masks market and as per current trends, production as well as demand for N95 masks are set to move in the upward trajectory during the COVID-19 era. At the back of these factors, the global N95 masks market is expected to reach a value of ~US$ 6.4 Bn by the end of 2030.

N95 Masks Market Infographic

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Demand for N95 Increase amid COVID-19 Crisis; Market Participants focus on Addressing Supply Chain Bottlenecks

As the COVID-19 pandemic continues to spread rapidly around the world, it presents a major health threat to the human population. The ongoing pandemic has played a key role in increasing the demand for personal protective equipment and a similar trend was observed during the SARS pandemic in 2003. While several hospitals and healthcare centers around the world were experiencing a severe shortage of N95 masks in the first two quarters of 2020, the supply-demand gap has narrowed down over the course of the pandemic due to the entry of a number of N95 masks manufacturers. This is expected to drive the N95 masks market.

Exports from nations that are large-scale producers of N95 masks have declined particularly in the first two quarters due to the increasing demand from domestic markets. Although the production of N95 masks in China has witnessed a 12-fold growth during the COVID-19 pandemic, due to the increasing domestic demand coupled with trade restrictions imposed by various governments around the world, exports continue to remain sluggish.

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.

N95 Masks Market Segmentation

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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.

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Analysts’ Viewpoint

The global N95 masks market is expected to grow at an impressive CAGR of ~11% during the forecast period. 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 Masks Market: Overview

  • The global N95 masks market was valued at US$ 1.1 Bn in 2019. It is projected to expand at a high CAGR from 2020 to 2030. N95 masks, also known as N95 respirators, can be defined as a 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 global N95 masks market is driven by the rise in prevalence of infectious diseases, increase in the number of people suffering from respiratory diseases, surge in levels of pollution, and the coronavirus pandemic.

N95 Masks: Market Segmentation

  • The global N95 masks market has been segmented based on product, material, application, distribution channel, and region
  • In terms of product, the global N95 masks market has been categorized into N95 masks with valves and without valves. The N95 masks with valve segment dominated the market in 2019. It is likely to remain dominant during the forecast period. Expansion of the N95 masks with valve segment can be attributed to the growing usage of these masks, owing to the breathability offered by the presence of the valve.
  • In terms of material, the global N95 masks market has been classified into cellulose, polypropylene, and others. Based on application, the global N95 masks market has been segmented into industrial use, medical use, and daily use.
  • Based on distribution channel, the global N95 masks market has been classified into retail pharmacies, online stores, and drug stores. The online stores segment of the N95 masks market is anticipated to expand at a high CAGR during the forecast period, owing to the home delivery options of N95 masks and safety requirements being met by the online delivery of products.

N95 Masks Market: Regional Segmentation

  • In terms of region, the global N95 masks market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America dominated the global N95 masks market in 2019. The trend is estimated to continue during the forecast period.
  • The N95 masks market in Asia Pacific is anticipated to expand at a high CAGR from 2020 to 2030. Expansion of the N95 masks market in the region can be attributed to the increase in the number of patients suffering from infectious diseases and focus of leading players on consolidating their presence in emerging markets.

N95 Masks Market: Major Players

  • Key players operating in the global N95 masks market include 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.
  • These players focus on enhancing their production capabilities to meet the burgeoning demand for N95 masks, owing to the growing pandemic of coronavirus. In March 2020, the 3M Company entered into a partnership with Ford Motor Company to increase the production of 3M’s powered air purifying respirators, or PAPRs. 3M and Ford entered into a collaboration to combine their complementary capabilities and resources in order to cater to the surging demand for personal protective equipment.
  • 3M Company also doubled its production of N95 masks/respirators at a rate of nearly 100 million masks per month, or over 1.1 billion per year. In the U.S., the company has been producing over 35 million N95 masks or respirators per month, with 90% of these masks designated for health care workers

N95 Masks Market – Scope of the Report

TMR’s report on the global N95 masks market studies the past as well as the current growth trends and opportunities to gain valuable insights of these indicators for the global market during the forecast period from 2020 to 2030. The report provides the overall revenue of the global N95 masks market from 2018 to 2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global N95 masks market for the forecast period.

The report has been prepared after an extensive research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with market leaders and opinion makers. Secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global N95 masks market.

Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts also employed a combination of top-down and bottom-up approaches to study various phenomena in the global N95 masks market.

The report includes an elaborate executive summary, along with a snapshot of the growth pattern of various segments and sub-segments included in the scope of the study. Additionally, the report sheds light on the changing competition dynamics in the global N95 masks market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the global N95 masks market. The next section of the report highlights the USPs, which include pricing analysis, N95 masks- manufacturing capabilities expansion, regulatory scenario assessment, and COVID-19 pandemic impact in the global N95 masks market.

The report delves into the competition landscape of the global N95 masks market. Key players operating in the global N95 masks market have been identified and each one of these has been profiled for its distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players profiled in the global N95 masks market report.

Key Questions Answered in N95 Masks Market Report

  • What will be the sales revenue generated by N95 masks across all regions during the forecast period?
  • What are the key trends in the global N95 masks market?
  • What are major drivers, restraints, and opportunities in the global N95 masks market?
  • Which regional market is set to expand at the fastest CAGR during the forecast period?
  • Which application segment will generate the maximum revenue by 2030 and which product segment will expand at the fastest CAGR during the forecast period?

N95 Masks Market – Research Objectives and Research Approach

The comprehensive report on the global N95 masks market begins with an overview of the market, followed by the scope and objectives of the study. Following this, the report provides detailed explanation of the objectives of the study and health care compliances laid down by accredited agencies in the purview of research in the global N95 masks market. It is followed by market introduction, market dynamics, and an overview of the global N95 masks market, which includes TMR’s analysis of market drivers, restraints, and trends affecting the market. Furthermore, Y-o-Y growth analysis with elaborate insights has been provided to understand the Y-o-Y growth trends of the global market. The next section of the global N95 masks market report highlights the USPs, which include pricing analysis, regulatory scenario assessment, N95 masks - manufacturing capabilities expansion, and COVID-19 pandemic impact on the global N95 masks market.

For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller sections. The entire report comprises an exhaustive collection of graphs and tables that are appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of market shares of key segments in the past and at the end of the forecast period.

Revenue generated by key players in the global N95 masks market has been mapped to ascertain the size of the market in terms of value. The forecast presented here assesses the total revenue generated in the global N95 masks market. In order to provide an accurate forecast, we initiated by sizing up the current N95 masks market with the help of the parent market.

The report analyzes the global N95 masks market in terms of product, material, application, distribution channel, and region. Key segments under each criteria have been studied at length and the market share of each of these by the end of 2030 has been provided. These valuable insights would help market stakeholders in making informed business decisions for investments in the global N95 masks market.

N95 Masks Market – Segmentation

Product

  • With Valve
  • Without Valve

Material

  • Cellulose
  • Polypropylene
  • Others

Application

  • Industrial Use
  • Medical Use
  • Daily Use

Distribution Channel

  • Retail Pharmacies
  • Online Stores
  • Drug Stores

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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