Global Face Shield Market poised to grow at a CAGR around 6.2% during the forecast period
Market Forecast
Global Face Shield
Market size was valued at approximately USD 3.1 Billion in 2019 and is
projected to grow at a 6.2% CAGR between 2020 and 2026. The demand for face
shield is anticipated to increase owing to the growth in healthcare,
manufacturing, and various other industries. The healthcare industry across the
globe is increasing at an exceptional rate. As per MRFR analysis, the global
healthcare industry in 2018 was worth USD 8.40 trillion. Global healthcare
spending is expected to reach USD 10 trillion by 2022. The healthcare industry
in emerging markets is anticipated to witness exponential growth in the next
couple of years. According to Krane Shares Emerging Market Healthcare Index, by
2040, emerging countries are projected to increase healthcare spending as by
24.4% of their current GDPs compared to just 9.8% in developed markets over the
same period. Rapid urbanization, increasing awareness of basic healthcare
amenities, and the rising per capita income are some of the key factors, which
are anticipated to boost the healthcare industry in such markets. The
increasing trend of medical tourism is further expected to boost the face
shield market in the next couple of years. Additionally, the manufacturing
industry in emerging economies is growing at an exponential rate. With rapid
urbanization in emerging economies such as China, India, and many other southeast
Asian countries, the demand for face shield is expected to grow in the next
couple of years. Indian government initiatives such as ‘Make in India’ and
‘Atmanirbhar Bharat’ are anticipated to boost the manufacturing industry. This,
in turn, is anticipated to further boost the growth of the face shield market
during the forecast period.
Additionally, with the
outbreak of a global pandemic, COVID-19, the demand for a face shield for
protection from harmful infections is anticipated to increase for a short
period. With the increasing number of COVID-19 infections across the globe, the
demand for face shield is expected to increase across hospitals and other
medical facilities. Several companies manufacturing face shields for the
construction and manufacturing industries are coming up with reliant and
effective face shields for protection against COVID-19 infections. Startups
such as Armor Care, an India based startup company, started mass production of
face shield owing to rising demand in the healthcare sector. Similarly,
Amazon.com, Inc., an e-commerce company based in the US, began the production
of face shields for the US healthcare industry. Therefore, the outbreak of
COVID-19 is certainly expected to boost the demand for the face
shield market for a short period.
Market USP
Growth in the
healthcare and manufacturing industries, coupled with the rising number of
COVID-19 cases across the world, is expected to boost the demand for face
shield during the forecast period.
Growth Opportunities
in the Market
Polycarbonate is more
economical: The polycarbonate segment is expected to register the fastest growth
during the forecast period. Polycarbonate material is economical. Additionally,
polycarbonate material also helps in countering and protection against the
airborne droplets of the COVID-19 virus. With the growing number of COVID-19
cases, the demand for face shields having polycarbonate materials is expected
to have the fastest growth during the forecast period.
Growth of the
healthcare and manufacturing industry: The demand for face shield in the healthcare and
manufacturing industries is expected to increase during the forecast period.
With the growing number of emerging economies and the development of
healthcare, infrastructure is expected to boost the growth of the global
market. This, in turn, is anticipated to increase the demand for face shields
in the global market during the forecast period. Additionally, the
manufacturing industry in emerging economies is experiencing robust growth in
the last couple of years. However, amidst the current scenario of the global
pandemic, COVID-19, demand for face shield is expected to surge in the
healthcare industry for a short period.
Dominance of
Store-Based Distribution Channels: The majority of face shields are sold through
vendors as face shields are most sold in bulk in professional sectors. The
healthcare and manufacturing industries are some of the dominant sectors for
the face shields. The professional segment is further anticipated to remain
dominant during the forecast period. Additionally, amidst the outbreak of
COVID-19, individual usage of the face shield is expected to grow for the next
couple of years.
Browse Full Report
Details @
https://www.marketresearchfuture.com/reports/face-shield-market-10155
Key Players
- The 3M Company (US)
- Honeywell International (US)
- MSA Safety (US)
- Medline Industries, Inc. (US)
- Dymax Corp (US)
- Kimberly-Clark Corporation (US)
- Brady Corporation Ltd. (UK)
- Alpha Pro Tech, Ltd. (US)
- Thermo Fisher Scientific (US)
- Shelby Group International, Inc. (MCR Safety) (US)
Request a Sample Report @
https://www.marketresearchfuture.com/sample_request/10155
NOTE: Our Team of
Researchers are Studying Covid19 and its Impact on Various Industry Verticals
and wherever required we will be considering Covid19 Footprints for Better
Analysis of Market and Industries. Cordially get in Touch for More Details.
Comments
Post a Comment