The global N95 market is projected to reach $11.8 billion by 2026.
Demand for personal protective equipment (PPE) has been booming since the start of the COVID-19 pandemic.
“Amid the COVID-19 crisis, the global market for N95 Masks estimated at US$3.7 Billion in the year 2020, is projected to reach a revised size of US$11.8 Billion by 2026, growing at a CAGR of 18.9% over the analysis period. Offline distribution channel, one of the segments analyzed in the report, is projected to grow at a 17.8% CAGR to reach US$8.1 Billion by the end of the analysis period,” according to a report from Research and Markets.
The N95 mask market in the US is estimated at $2 billion in 2021, accounting for 29.54 percent of the global share. The world’s second largest economy, China, is predicted to reach a market size of $2 billion in 2026.
“Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18.1% and 19.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 19.2% CAGR while Rest of European market (as defined in the study) will reach US$2.1 Billion by the close of the analysis period,” the report continued.
The market is expected to continue growing due to occupational mandates and a rise in number of surgeries and ICU admissions.
At the start of the pandemic, the US Centers for Disease Control and Prevention and the World Health Organization told the public not to wear N95 respirators due to a massive shortage. They argued that the supply should be saved for those working in the healthcare field. They did not update their guidance to suggest the public wear N95 masks, which help hold back aerosols that carry the virus, until September 10.
“CDC continues to recommend that N95 respirators should be prioritized for protection against COVID-19 in healthcare settings,” wrote CDC spokesperson Jade Fulce in an e-mail to Scientific American last week. “Essential workers and workers who routinely wore respirators before the pandemic should continue wearing N95 respirators,” she continued. “As N95s become more available they can be worn in non-healthcare settings, however, cloth masks are an acceptable and recommended option for masking.”