Market Research

Medical Glasses & Shields Market to Grow At a CAGR of 4.71% During the Forecast Period 2020-2025

Jul 24, 2020 3:00 PM ET

iCrowd Newswire – Jul 24, 2020

Medical Glasses & Shields Market size is $1217m in 2019, growing at a CAGR of 4.71% during the forecast period 2020-2025. Medical glasses and shield are the medical equipment used by medical personnel for the prevention from germs, infection, bacteria and others. The medical glasses are built with polyester anti-fog film, plastic goggles and some glasses are designed to reveal bruises, rashes and internal injuries invisible to the naked eye that helps in the treatment procedure. Surgical Face Shields are personal protective equipment (PPE) made up of cellulose acetate provide top, side, and front face protection against splash and splatter of fluid-borne pathogens. It helps in the protection of eyes, nose, mouth and others from spurts and splashes of blood and other bodily fluids.

By Application – Segment Analysis
In 2019, Isolation Ward segment dominated the Medical Glasses & Shields Market in terms of revenue is estimated to grow at a CAGR of 2.88%. It is a separate ward used to isolate patients suffering from infectious diseases. It isolates patients who poses a risk of passing harmful infection on to others such as influenza, COVID-19, Ebola and others. It is built with negative pressure air extraction system to ensure good ventilation while preventing the inward flow of contaminated air.

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Geography – Segment Analysis
In 2019, the Europe region dominated Medical Glasses & Shields Market in terms of revenue with a market share of 44%. Growth in the market is attributed to the efficient healthcare structure and the rising cases of COVID-19 which has led to an increase in the number of isolation wards. These medical glasses and shield are used by medical personal working around the infected patients. As per claims of World Health Organization (WHO) the estimated statistics related to COVID-19 outbreak is 0.978 million, which would result in the growth of the market. North America is estimated to record the fasted growth rate during the forecast period 2020-2025.

Drivers – Medical Glasses & Shield Market

Improves Treatment Efficiency
The rising infectious diseases have created more opportunities for the market players. With the help of medical glasses and shield doctors are able to treat patients more precisely without getting affected with infection and focus on the particular infected areas only. It protects the eyes from spurts or splashes of blood while performing surgeries which has gained significant demand hike to the market’s growth.

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Challenges – Medical Glasses & Shields Market

Shortage of Production
The COVID-19 outbreak has been affecting the manufacturing process of medical glasses and medical shields. The virus outbreak has caused the shutdown of manufacturing processes owing to mandatory lockdown by Government authorities. It has been leading to the shortage of products in the market, affecting the growth of the market.

Medical Glasses & Shields industry outlook
Product Launches was the key strategy of the players in the Medical Glasses and Shields Market. Medical Glasses and Shields Market top 10 companies include McKesson Corporation, Prohero Group Corporation ltd, Essilor International S.A., Blue Cross Blue Shield Association, Fielmann AG, Paulson & Co. Inc., Johnson & Johnson, Honeywell International Inc., Sabinsa Europe GmbH and The Cooper Companies, Inc.

Acquisitions/Product Launches
In November 2018, Honeywell International Inc, acquired Transnorm which is helped Honeywell in safety and productivity solutions.

In June 2018, McKesson partners with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare to help provide the right medicines, medical products and healthcare services to the right patients at the right time.

Key Takeaways
The increase of the prevention safety among the individuals in the medical and healthcare industry is set to propel the growth of the market.

The improved treatment efficiency while using these equipment and its application in isolation wards accounting to the recent COVID-19 outbreak is estimated to act as a key driver of the medical glass and shield market.
North America region is estimated to record the fastest growth rate during the forecast period.

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