The global face shields market size is expected to experience exponential growth by reaching USD 1,642.1 million by 2028 while exhibiting a CAGR of 8.8% between 2021 and 2028. This information is published by Fortune Business Insights in its latest report, titled “Face Shields Market, 2021-2028.” The report further mentions that the market stood at USD 832.3 million in 2020. Factors such as the surging COVID-19 cases worldwide and the increasing healthcare spending by several countries is expected to propel the demand for the product during the forecast period. According to CMS.gov, health care spending in the U.S. rose by over 4.6% in 2019. This resonates to about USD 11,582 per person in the country.
Key Market Segmentation:
Based on the product, the market is bifurcated into a full face shield and half face shield. On the basis of type, the market is divided into reusable and disposable. Furthermore, on the basis of the end-user industry, the market is classified into manufacturing, construction, oil & gas, chemical, food, pharmaceutical, transportation, and others.
Based on the end-user industry, the manufacturing segment is anticipated to hold the largest global market share in terms of revenue in the forthcoming years. This is due to the increasing adoption of advanced face shields to ensure complete protection of the employees working at several manufacturing facilities globally.
Lastly, on the basis of region, the market is segmented into North America, the Middle East and Africa, Europe, Latin America, and Asia-Pacific.
What does the Report Provide?
The market report provides effective analysis on several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market in the forthcoming years. Moreover, the research analyst has adopted several research methodologies such as PORTER’s Five Point analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
Source- https://www.fortunebusinessinsights.com/face-shields-market-105155
DRIVING FACTORS
Rising Cases of COVID-19 to Propel Market Growth
After inflicting serious damages on human lives and economy of several major countries in 2020, the send wave of the COVID-19 pandemic has hit several regions worldwide. According to the WHO Coronavirus dashboard, as of 6th April 2021, the total number of confirmed cases of the novel coronavirus has been staggering 131,309, 792 with over 2,854,276 deaths worldwide. The increasing cases of COVID-19 puts enormous strain on the healthcare settings to contain the disease. This is expected to surge the demand for advanced personal protection equipment (PPE) kits worldwide. Therefore, this is projected to contribute to the global face shields market growth in the forthcoming years.
REGIONAL INSIGHTS
North America – The region is expected to remain dominant and hold the highest position in the market during the forecast period. This is attributable to the stringent government regulations and the increasing healthcare spending that will propel the demand for advanced face shields in the region. North America stood at USD 248.7 million in 2020.
Europe – The market in the region is expected to showcase significant growth backed by the rising cases on COVID-19 in countries such as France, Germany, and Spain. Moreover, presence of established manufacturing industries in the region will boost the demand for these shields between 2021 and 2028.
List of the Top Companies Operating in the Face Shields Market:
Cardinal Health (Ohio, U.S.)
3M (Minnesota, U.S.)
Honeywell International Inc. (North Carolina, U.S.)
AlphaProTech (Richmond, Australia)
Precept Medical Products, Inc. (North Carolina, U.S.)
Prestige Ameritech (Texas, U.S.
Pyramex (Tennessee, U.S.)
Sanax Protective Products (Massachusetts, U.S.)
KARAM (Navi Mumbai, India)
Medline Industries, Inc. (Illinois, U.S.)
MSA (Pennsylvania, U.S.)
Dupont Teijin Films U.S. Limited (Virginia, U.S.)
Radians, Inc. (Tennessee, U.S.)
Kimberly-Clark Worldwide, Inc. (Texas, U.S.)
COMPETITIVE LANDSCAPE
Partnership Among Key Players to Expand Their Product Portfolio & Boost Sales Revenue
The global market is fragmented by the presence of key players that are striving to maintain their dominance by partnering other companies to expand their face shields portfolio to cater to the increasing demand from the healthcare sector. Moreover, the other major companies are adopting organic and inorganic strategies that will favor the market growth in the forthcoming years.
Key Industry Developments:
May 2020 – Aspen Surgical Products, Inc. acquired Precept Medical Products, a company that provides medical clothing. The company is focusing on developing advanced medical equipment to help healthcare professionals combat the novel coronavirus spread.