The masks market is experiencing an exponential growth due to the Covid-19 pandemic. This is because Covid-19 is a severe acute respiratory syndrome, which can be transmitted through airborne droplets, which masks can potentially block. Masks are therefore essential equipment for staff dealing with infectious patients. In addition, many other workers and individuals are using face masks as a precautionary measure.
The market for N95 respirators and other surgical masks (face masks) consists of sales of N95 respirators and other surgical face masks used as personal protective equipment (PPE) to protect the wearer from airborne particles and from liquid contaminating the face. The market consists of revenue generated by companies manufacturing N95 respirators and surgical face masks by the sales of these products.
The global masks (N95 and other surgical masks) market is expected to grow from $1 billion in 2019 to about $8.1 billion in 2020 as there is a massive surge in demand owing to the preventive measures being taken across the globe against the spread of the corona virus. The market is expected to stabilize and reach $1.3 billion at a compound annual growth rate (CAGR) of 5.7% through 2023.
The masks market is segmented by type into N95 respirator, common grade surgical mask, and others (comfort masks/dust masks). By end-user, it is segmented into hospital and clinics, individual, industrial, and others.
Rise in outbreak of airborne diseases contributed to the growth of the masks market. Airborne transmission of infectious agents refers to the transmission of disease caused by dissemination of droplet nuclei that remain infectious when suspended in air over long distance and time. Precautions that create a barrier and procedures that decrease or eliminate the microbe in the environment or on personal belongings, form the basis of interrupting transmission of direct contact diseases. The spread of airborne diseases like seasonal influenza kills 200–500 thousand people annually. The influenza A (H1N1) outbreak caused 17,000 deaths worldwide, many among whom were healthy adults. In 2002-2003, severe acute respiratory syndrome (SARS) killed more than 700 people and spread into 37 countries causing a cost of $18 billion in Asia. These recent outbreaks remind us of the potential for a pandemic such as the Spanish flu of 1918–1920 which killed 50–100 million people; recently, the outbreak of Covid-19 has taken over the world. This is expected to drive the growth of the masks market by several folds in the short term.