The coronavirus or COVID-19 (formerly 2019-nCoV) broke out in December 2019, which has been imposed as a medical emergency worldwide. More than 183 countries and territories have reported cases of coronavirus to date. This is the latest report, covering the current coronavirus impact on the market .
According to a new report published by Fast.MR titled, “Respiratory Mask Market by Product, and End-Use : Global Opportunity Analysis and Industry Forecast, 2016–2027,” the global respiratory mask market was estimated at around USD 6.1 billion in 2019 and is expected to grow with the CAGR of 6.9% during forecast period 2020-2027. Rising emergence of pathogens around the globe is projected to drive market growth.
Global emergence of corona virus has directly boosted the demand for respiratory masks. The product offers greater protection against pathogens and viruses by isolating face through a patch. As the global cases of infected personnel increases, the demand for product is also expected to observe swift growth over the short term period.
Uncertainty related to the arrival of vaccine to cure coronavirus coupled with rising cases is anticipated to drive market growth. The product offers excellent protection while providing comfortable breathing. Countries around the globe are demanding for the product to tackle the rising cases and break the chain of infected personnel through protective equipment such as respiratory masks.
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As the world fights the economic challenges caused due to the outbreak of pandemic, many economist are suggesting strong financial packages to kick-start industrial facilities. Many governments are offering guidelines to initiate industrial activities while focusing on social distancing and promoting use of respiratory masks. This is projected to positively influence the market growth over the coming years.
The current situation offers huge opportunity for market vendors. Key participants of the industry are Medicom, 3M, Ansell, Alpha Pro Tech Limited, Honeywell International, Grainger, JAL Group, Avon Rubber, Uvex Safety Group, and Mallcom Ltd. The vendors of the industry are focused on creating strong sales channel to increase their market presence.
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