The protective face mask market is expected to grow at a CAGR of 10.86% over the forecast period.
Rising awareness of protection against air pollution and other harmful pollutants
The unhealthy air quality is a warning of air pollution that has gripped the entire world and the polluted air is leading to the number of health problems. According to the World Bank, the combined impact of outdoor and indoor pollution causes 7 million premature deaths largely as a result of increased mortality from stroke, chronic obstructive pulmonary disease, heart disease, lung cancer, chronic obstructive pulmonary disease, and acute respiratory infections. In addition, the overall cost associated with health damage from ambient air pollution at the global level is estimated to be $5.7 trillion, equivalent to 4.8% of the global GDP in 2016. Also, while all the countries are affected, rapidly growing cities in the South East Asia and the western pacific are the most affected with many showing pollution levels at least five times above the World Health Organisation recommended levels. Therefore, the growing importance of protection against pollution especially in developing countries like India, China, and Indonesia owing to rapid industrialization is anticipated to drive the growth of the market during the forecast period.
Rapid industrialization and increasing adoption of protective face mask in various end-user industries
Globally, there is increasing investment in the construction industry and rising adoption of protective face masks in the construction sector also widens up growth opportunities for manufacturers and vendors in the coming years. For instance, work on electricity infrastructure by the construction sector in the UK has increased from £1.3 million in 2010 to £8.9 million in 2017 (Source: Office for National Statistics, United Kingdom). In addition, a protective face mask is used to increase the protection against airborne contamination such as sparks, chemical and molten metal splashes and flying debris and they are very common in automotive, metalworking and fabrication and chemical plant processes. Due to the expanding automotive industry and increasing government stringent regulations across various end-user industries the market for hoods in the other segment is expected to grow at a significant rate during the forecast period.
Rising government initiative in the development of the healthcare industry
Globally governments of various countries are taking several steps towards developing and building the strong healthcare sector. For instance, in the Saudi Arabian Government, in 2018, the government allocated nearly US$39.2 billion for the healthcare and social development sector an increase of 10 percent over the 2017 figure (Source: Government of Saudi Arabia). Country’s Vision 2030 program also focuses on healthcare under which the government is diverting its funds towards the development of new hospitals and robust the healthcare infrastructure. Also, state-of-the-art healthcare infrastructure in the United Arab Emirates and ease of obtaining Visa for medical treatment in Dubai is attracting people, who seek a high quality of healthcare services at lower costs, from across the globe. According to data from the Dubai Chamber of Commerce and Industry, the value of the medical tourism sector in the UAE rose by 5.5% over the previous year’s value as the total revenue from the sector reached Dh12.1 billion in 2018.
Increasing per capita healthcare spending in developing countries
It is considered as one of the prime drivers for the growth of the market during the forecast period. According to the Organisation for Economic Co-operation and Development data, the per capita healthcare spending in India and Mexico has increased from 144USD and 907USD in 2009 to nearly 220USD and 1,338USD by the end of 2018. Both and public and private players are investing heavily in developing countries to cater to the growing demand for the protective face mask on account of increasing air pollution and growing health awareness.
North America is holding a significant share in the market
By geography, the protective face mask market is segmented as North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The protective face mask market in North America is estimated to hold a significant share in 2019 and is anticipated to grow rapidly on account of rising health awareness coupled with strict health care norms in countries like the United States and Canada in the region. Europe has been known for its manufacturing and development of high-tech machinery and robotics especially in the field of automotive and aviation. Also, according to the European Trade and Invest (GTAI), Germany is the leader in terms of sales in the European Chemical Industry. These industries are also projected to grow during the forecast period owing to the increasing demand for automotive, aviation and chemical products worldwide. In the automotive and aviation industry, a protective face mask is used to protect workers from exposure to specialty coatings. Along with this, the demand for increased petrochemical consumption and increasing influence of electronic vehicles in the region will also result in the increased manufacturing of automotive, further increasing the demand for a protective face mask in the coming years. Furthermore, there are a plethora of atomic power units in the region. The requirement for safe respiratory equipment for these activities will be the leading reason for the growth of a protective face mask market in the region during the forecast period. The Asia Pacific is also expected to provide good growth opportunities on account of the rising prevalence of air pollution in developing countries like India and China and increasing the prevalence of severe conditions like cancer and strokes among others in China.
Prominent key market players in the Indian protective face mask market include 3M Company, Cartel Healthcare Pvt. Ltd, Medline Industries Inc., Gerson, SAS Safety Corp, Honeywell, and Kimberly-Clark Corporation among others. Due to intense competition, different firms are adopting similar strategies to improve their margins. Companies look for strategic partnerships including mergers and acquisitions and joint ventures to boost their market share. Major players in the global protective face mask market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the global protective face mask market.