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Global Medical Mask Industry Overview for 2024 to 2034
The Global Medical Mask Industry is poised for a significant surge in the coming decade, fueled by rising health concerns and expanding applications. According to a recent report by Future Market Insights (FMI), the market, currently valued at US$6.02 billion in 2024, is expected to experience a remarkable Compound Annual Growth Rate (CAGR) of 10.80%. This impressive growth trajectory is projected to propel the market to reach a staggering US$16.78 billion by 2034.
Medical masks have emerged as an indispensable component in healthcare settings, particularly during surgical procedures. Their essential role in maintaining hygiene and ensuring infection control has catapulted the demand for these masks across various medical facilities, including ambulatory surgical centers, hospitals, dental settings, and more. The availability of diverse mask variants tailored to specific applications and designed for various end-users has emerged as a pivotal driving factor, fostering the continuous expansion of the Global Medical Mask Industry throughout the forecast period.
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Consistent growth in the number of surgeries performed globally is boosting the demand for anesthesia masks and laryngeal masks, which is expected to contribute to the growth of the Global Medical Mask Industry during the forecast period.
Increasing number of infectious diseases and pollution as well as growth in the number of surgeries worldwide are providing further impetus to the growth of Global Medical Mask Industry.
The COVID-19 Impact on Medical Mask Sales
The novel coronavirus (COVID-19) pandemic has put a huge strain on the Global Medical Mask Industry, with the gap between supply and demand gradually widening. COVID-19, being primarily a respiratory disease, makes it imperative to incorporate personal protective equipment (PPE) such as medical masks for both, medical professionals and the general public. This is both a challenge and an opportunity for market players, which are focusing on scaling up production capacities to satiate the rapidly growing demand.
Key Takeaways of Global Medical Mask Industry Study
Soaring Demand: The increasing demand for medical masks is primarily driven by rising healthcare awareness, growing hygiene concerns, and ongoing efforts to combat infectious diseases.
Pandemic Impact: The COVID-19 pandemic significantly heightened global awareness of the importance of proper hygiene practices, including mask-wearing. This trend is expected to continue post-pandemic, fueling market growth.
Diversifying Applications: Medical masks are finding application not just in clinical settings, but also in public spaces, workplaces, and daily life, further expanding the market potential.
Technological Advancements: Advancements in materials and design are leading to the development of more comfortable, breathable, and effective medical masks.
Focus on Sustainability: The increasing demand for sustainable solutions is driving the adoption of reusable and biodegradable medical masks.
Leading Manufacturers Focus on Mergers & Acquisitions
Leading manufacturers in the medical mask market are focusing on regional mergers & acquisitions to enhance their product portfolio and expand their regional presence. For instance, in 2021, Examinetics announced its collaboration with Moldex-Metric Inc. to offer online respirator clearance evaluations. In 30 march 2022, the company moved quickly to expand its production capacity for N95 masks and start its new operation in Phoenix.
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Global Medical Mask Industry, a new study from future market insights, opines on the application of Medical mask from 2014 – 2021 and presents demand projections from 2022 – 2030 based on; product type (surgical mask, N95 respirators, face mask, full-face mask, laryngeal masks, and anesthesia masks), application (respiratory safety, infections disease, allergies and surgeries) and end user (hospitals, academic & research institutes, diagnostic laboratories, individual) across seven prominent regions.
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Key Segments Covered in Global Medical Mask Industry Research By Product:
Surgical mask
N95 Respirators
Face mask
Full-Face Mask
Laryngeal Masks
Disposable Laryngeal Masks
Reusable Laryngeal Masks
Anaesthesia Masks
Disposable Anaesthesia Masks
Reusable Anaesthesia Masks
By Application :
Infections Disease
Respiratory Safety
Surgeries
Allergies
Others
By End User :
Hospitals
Diagnostic Laboratories
Research and Academic Institutes
Others
By Region :
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa (MEA)
Bronchoscopes Market - Category-wise Insights By 2028
The Global Bronchoscopes Industry, valued at approximately US$ 501 Million in 2022, is set for an extraordinary surge, with projections indicating a 1.3X increase over the forecast period, according to the latest report by Future Market Insights (FMI). The market is anticipated to maintain a robust Compound Annual Growth Rate (CAGR) of 4.4% between 2022 and 2028, culminating in sales reaching US$ 647.7 million by the end of 2028.
Bronchoscopes, a significant segment of the global endoscopes market, are expected to represent around 4% of the market share by the close of 2021, as the overall endoscopes market is projected to reach a valuation of US$ 13.0 Billion in the same year.
The escalating prevalence of respiratory conditions such as idiopathic pulmonary fibrosis, pulmonary fibrosis, interstitial pneumonitis, occupational sarcoidosis, and pulmonary hemorrhage is driving an unprecedented demand for Bronchoscopes. This surge in demand not only underscores the critical need for advanced diagnostic and therapeutic tools but also presents lucrative opportunities for manufacturers to innovate and meet evolving healthcare challenges.
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Cleaning typical (multiple-use) flexible Bronchoscopes is time-consuming and expensive, and there is a risk of cross-infection. By adopting a single-use flexible video bronchoscope, cross-contamination is eliminated. An early assessment of the economic effectiveness of single-use Bronchoscopes suggests potential hospital savings and patient benefits from infection prevention. The rising use of single-use flexible Bronchoscopes is developing a sizable industry due to their enticing benefits.
“Apart from the factors mentioned, technological advancements in the Bronchoscopes landscape—witnessing a transformation shift from conventional invasive procedures to minimally invasive and advanced devices is a critical factor determining the global demand for Bronchoscopes, further amplifying its potential applications.
Among the significant improvements and developments boosting global demand for Bronchoscopes are white-light bronchoscopy, navigational bronchoscopy, and autofluorescence (blue-light) bronchoscopy. Thin Bronchoscopes with minimally invasive characteristics are increasingly gaining popularity. Manufacturers of Bronchoscopes have improved on original Bronchoscopes in terms of application and product variety,” notes a company senior analyst.
Top Four Manufacturers Contribute the Largest Global Revenue
Given the rapid pace of technological change, major bronchoscope manufacturers are investing heavily in research and development projects to further improve product efficiency. The Global Bronchoscopes Industry is extremely competitive, with relatively high entry barriers, differentiated and well-established products, and notably high profit margins.
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Tier-1 manufacturers of Bronchoscopes, including Olympus Corporation, FUJIFILM Holdings Corporation, Teleflex Incorporated, and HOYA Corporation, collectively hold a market share of approximately 62.5 percent—with Olympus Corporation contributing the largest revenue slice.
Tier-2 players such as KARL STORZ GmbH & Co KG, Ambu A/S, and Richard Wolf GmbH and tier-3 players including Rochling Group and Shanghai AoHua Photoelectricity Endoscope Co., Ltd, collectively contribute approximately 37.5 percent revenue share to the Global Bronchoscopes Industry. Key forward market strategies include:
With continued improvements in the global healthcare setting, key players seek acquisition opportunities as a key growth strategy. Olympus Corporation, Fujifilm Holdings Corporation, Teleflex Incorporated, and HOYA Corporation are likely to focus on mergers, acquisitions, and collaboration strategies, in the coming years. HOYA Corporation, for instance, acquired C2 Therapeutics, to expand its interventional endoscopy offerings in the U.S. and also provide aftersales and repair services.
Besides strategic tie-ups, new product launches will continue to be the key differentiation strategy, helping manufacturers to further solidify their market position. For instance, Olympus Corporation launched Truresolution objectives for multiphoton laser scanning microscopes. Teleflex Incorporated launched LMA® Gastro Airway, facilitating airway control during endoscopic procedures.
Leading manufacturers of Bronchoscopes are also focusing on geographical expansions, specifically in emerging nations, by acquiring local players in the endoscopy market.
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Critical Market Retainers Identified
Risks of cross-contamination and post-bronchoscopy infection in the form of bleeding, troubled breathing, and low blood oxygen level. FMI study indicates high infection rate at ambulatory surgical centers (ASCs), compared to clinics and hospitals.
Growing demand for non-invasive procedures including liquid biopsy and Magnetic Resonance Spectroscopy.
Stringency in regulations demanding a pre-market approval (PMA).
Global Bronchoscopes Industry, By Category Product:
Non-Video Bronchoscopes
Video Bronchoscopes
Modality:
Rigid Bronchoscopes
Flexible Fiber Bronchoscopes
Mobile Bronchoscopes
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The lightweight automotive body panels market size is projected to be valued at US$ 122,054.9 million in 2023 and is expected to rise to US$ 191,369.2 million by 2033. The sales of lightweight automotive body panels market are predicted to thrive at a significant CAGR of 4.6% during the forecast period.
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The automotive washer system market is poised for significant growth, with the global market size projected to reach US$ 24.674 billion by 2023. Driven by the rapid expansion of the automotive industry, the demand for automotive washer systems is expected to witness a robust CAGR of 5.2% from 2023 to 2033.
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