Market Trends of COVID-19 Safety and Prevention Products
This section covers the major market trends shaping the COVID-19 Safety & Prevention Products Market according to our research experts:
Ventilators to Record a Major Share of the Market Studied
- With around 5–15% of patients with COVID-19 infection requiring intensive care surveillance and ventilatory support, the mortality during mechanical ventilation has suggested being higher and lung-protective ventilation is mandatory.
- Developments such as NASA's Jet Propulsion Laboratory (JPL) in California selected eight U.S. manufacturers to make a new ventilator tailored for coronavirus (COVID-19) patients in May 2020, is expected to reduce the demand pressure in the future. The prototype, additionally, features a high-fidelity lung simulator, which was tested across 20 ventilator settings, indicating multiple scenarios that could be seen in critically ill patients in an intensive care unit. Also, the Food and Drug Administration has approved the design for an emergency use authorization.
- Then, non-allied companies/manufacturers have actively set in the production of low-cost ventilators across emerging economies. For instance, Mahindra & Mahindra ventilators have begun for production as of March 2020. The company has build bag valve mask type ventilators to simplify design and to scale up capacity.
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North America to Hold a Significant Share in the Market
- With COVID-19 cases increasing in the region and as of the first week of June 2020, United States had reported more than 2 million cases due to which the demand and production of protective and treatment-related products are likely to rise. Additionally, the health officials from Washington State to Delaware resorted to the federal government for access to a network of storage facilities housing the emergency supply of potentially life-saving pharmaceuticals and medical supplies to be used only in a public health emergency.
- Then, as of April 2020, Trump administration placed an order for 30,000 ventilators worth USD 489.4 million from General Motors (GM) as per the Defense Production Act. GM, also designed its V+Pro ventilator model as an upgrade to the one offered by Ventec for speeding up and optimizing production.
- The United States has been looking forward to international manufacturers from countries as diverse as Brazil, Mexico, India, and Malaysia to fuel its demand for medical-grade supplies. However, the nation observed a falling demand for ventilators amidst the death toll from the coronavirus surpassing 80,000. This is partly due to lack in supply and slightly because doctors have been using ventilators on a last resort basis.
- Companies operating in the region have expanded production capacities, such as 3M Company, expects to increase its United States monthly production of N95 respirator masks to 50 million by June 2020.
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