The global surgical masks market size was estimated at USD 4.2 billion in 2030 and is expected to expand at a compounded annual growth rate (CAGR) of 11.5% from 2020 to 2030. The growth of the market is expected to be driven by improved healthcare expenditure as well as the increasing significance of respiratory protection in the healthcare industry, particularly during the COVID-19 pandemic. Short-term demand for surgical masks remains unprecedented, however, growing awareness regarding their effectiveness will lead to steady sales in the long-term, according to a latest study by Future Market Insights. According to the study, even after the COVID-19 pandemic is brought under control, a sizeable percentage of people are likely to continue wearing masks in crowded places, and cities where pollution levels are high.
Key Report Takeaways
- The global surgical masks market is forecasted to surge past valuation of US$ 4.2 Bn by 2030
- Basic surgical masks and fluid/splash resistant surgical masks are expected to collectively account for 80% of market value, each holding a share of near-equal proportions.
- The adoption of basic surgical masks is concentrated among general consumers while fluid/splash resistant surgical masks find a majority of takers among medical professionals.
- By end-use, hospitals are foreseen to channel the majority of revenue, capturing more than 70% of market value.
- Ambulatory surgical centers are anticipated to remain the second-most lucrative market, accounting for more than 1/5th of global market value.
- Europe is poised to capture the lion’s share in market value, accounting for a share little below 2/5th of market value.
“Market players are leveraging the unprecedented demand for surgical masks created by the pandemic and are focusing on increasing their brand visibility,” remarks FMI analyst.
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Through the years, surgical masks have remained one of the most prominent protective equipment among healthcare professionals while performing medical procedures.
Surgical masks offer protection against exposure to harmful bacteria and other organisms present in the blood and other bodily fluids that the medical professionals are likely to come in contact with during surgical procedures.
As the number of surgeries continues to increase in direct proportion with the expanding base of the geriatric population, the demand for protective surgical equipment, including surgical masks, is expected to prevail high for the years to come.
As per the statistics of The Lancet, the number of surgeries conducted across the world surged passed 313 Mn in recent years and continues to rise year-on-year, offering substantial revenue opportunities to market players.
Likewise, high levels of air pollution in East Asian nations such as China, South Korea, and Japan have made wearing masks a common practice among the population of these regions.
Besides, the sales of masks in the aforementioned regions have historically witnessed an upsurge during the flu seasons. On these lines, the outbreak of COVID-19 is creating an unprecedented demand for surgical masks, as they become an integral part of routine during the pandemic.
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COVID-19 Impact on Surgical Masks Market
The outbreak of COVID-19 has proven fruitful to the manufacturers of surgical masks, as demand for surgical masks has never been higher. As the number of infections continues to spike in large nations such as the US, India, Brazil, and Russia, with no vaccine approval in sight, people are resorting to all kinds of protective measures in their routine.
On this premise, surgical masks have emerged as the most accessible and efficient safety measure, and have become an integral part of their lives. Surgical masks are currently among the most sought out essentials and are poised to remain through the pandemic, thus catalysing the overall market growth.
Who is Winning?
Key players operating in the market are capitalizing on the demand created during the pandemic and are upscaling their production capacities to gain a competitive edge. Moreover, market players are focusing on procuring approvals for new products to distribute on a wide-scale. On these lines,
3M is committed to producing 50 Mn masks to the US medical authorities during the pandemic.
Similarly, Honeywell International has expanded its manufacturing capacity in its facility located in Smithfield, Rhode Island, to cater to the growing demand.
FMI’s report includes profiles of some of the most prominent names in the market including 3M, Honeywell International Inc., and Medline Industries, Inc., Halyard Health (Owens & Minor, Inc.), Kimberly-Clark Worldwide, Inc., Medline Industries, Inc., Moldex-Metric Inc., Kowa Company Ltd., Premium HealthCare Disposables Private Limited, Kindwell Medical BioClean (ANSELL LTD.), Dynarex Corp., and Valmy among others.
To Know More About Surgical Masks Market
A new market research report published by Future Market Insights (FMI) on the global surgical masks market offers an executive-level blueprint of the market. It offers insights into demand trends and provides analysis of opportunities over the forecast period, 2020-2030. The report examines the market through four different segments – product, end-use, and region. The report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the supply and product adoption across several end-use industries.
Download TOC @ https://www.futuremarketinsights.com/reports/surgical-mask-market/table-of-content
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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