Recent Uptick In COVID-19 Outbreak Is Driving Growth Of Surgical Mask Demand
- Financialnewsmedia.com News Commentary
PALM BEACH, Florida, June 23, 2020 /PRNewswire/ -- The global surgical mask market is forecasted to reach $87.67 Billion by 2027, according to a recent report by Reports and Data. According to the latest news from the World Health Organization (WHO), the global health crisis is continuing to grow with more new cases every day. So it is only natural that WHO recommends the use of masks everywhere. This, in turn, has boosted the demand for surgical marks and is expected to drive the global surgical masks market. The use of a face mask is extremely important to control such infections, especially in cases of circumventing droplet transmission. For blocking the transmission of the viruses, the effectiveness of a surgical face mask is 68%. Hence, it is widely used by medical workers for the precaution of droplet transmission while caring for patients with such infections. The report stated: "Rising use of surgical face masks is anticipated to fuel the growth of this market. Furthermore, geriatric population with chronic conditions is more prone to such infectious diseases, including COVID-19. Hence, use of surgical face masks by the geriatric population is expected to drive the global market. The rise in the number of COVID-19 cases in developed and developing countries presents a lucrative opportunity for this market… Mentioned in today's commentary include: Sorrento Therapeutics, Inc. (NASDAQ: SRNE), Global Trac Solutions, Inc. (OTCPK: PSYC), Inovio Pharmaceuticals, Inc. (NASDAQ: INO), Alpha Pro Tech, Ltd. (NYSE: APT), GTX Corp (OTCPK: GTXO).
The demand for respirators, masks, gloves, and protective clothing, have increased significantly as the outbreak of COVID-19 pandemic has impacted the market positively. The employees of many sectors like aerospace, manufacturing, healthcare, etc. have been supplied masks to protect them from the sudden outbreak of the COVID-19 pandemic. Due to supply chain in major suppliers like china under lockdown, the industry is facing significant challenges to ramp up the manufacturing capacities to help mitigate the supply shortage. Despite this, the manufacturers are working to full strength to supply masks across the regions to cover-up this shortage of supply. Therefore, the demand for the surgical mask market is anticipated to witness growth over the coming few years.
Global Trac Solutions, Inc. (OTC Pink: PSYC) Breaking News: PSYC Donates 3,000 Masks Amidst Covid-19 To Support Local Community - Global Trac Solutions is pleased to announce that the Company has donated 3,000 disposable masks to three vital organizations within the San Diego community and as part of the Company's effort to support its community amidst the ongoing COVID-19 pandemic.
Last week, the Company took time to deliver 1,000 one-time use surgical masks to the Alpha Project, Wounded Warrior Support Network, and the San Diego LGBT Center as part of its commitment of supporting local organizations that provide a critical and valuable service to its diverse community members, particularly at a time when many of them are in need of as much support and assistance as possible.
"Supporting the community and the organizations that go above and beyond to support and protect those who find themselves in overwhelming challenging and unfortunate situations is something that is very near and dear to me," said Global Trac Solutions CEO, Vanessa Luna. "As a company, I believe it is our responsibility to lend our support to those within our community in every capacity we possibly can. Organizations such as the Alpha Project, Wounded Warrior Support Network, and the San Diego LGBT Center are such an incredibly valuable resource to so many different people here in our community. And with the volatility and uncertainty that has resulted from the COVID-19 pandemic, the guidance and support resources they offer to those within our wonderfully diverse community are perhaps as vital and important now as they have ever been before."
In response to the Company's donations of disposable masks, each of the organizations offered the following quotes:
"Thank you, Global Trac Solutions, for donating 1,000 masks to keep our residents and staff safe. This is a critical need right now. We appreciate your support; it is a true blessing." – Bob McElroy, President & CEO, The Alpha Project
"The Wounded Warrior Support Network Thanks Global Trac Solutions for their generous and thoughtful donation of face masks. We will be delivering them to the Wounded Warrior Battalion at Camp Pendleton. Thank you so much for thinking of our military families." - Bev Trout, Founder, The Wounded Warrior Support Network
"The San Diego LGBT Community Center is thankful to Global Trac Solutions for their generous donation of 1,000 one-time use surgical masks. As The Center is providing Emergency Services to clients, these masks will be a critical help for our Youth Centers, our Sunburst Youth Housing Project youth tenants, our emergency overnight housing, Safe S.T.A.Y., clients and staff, Center staff who are providing HIV testing, and Food Bank staff and volunteers. The gift of these masks will allow us to provide our Emergency Services safely during this pandemic, while protecting staff and clients. Thank you! "– The San Diego LGBT Center
The Company would also like to extend its thanks and gratitude to GTX Corp (OTC: GTXO) whom the Company collaborated with on the purchase of the 3,000 disposable masks of which they contributed an additional 500 mask donation alongside us, we appreciate their collaborative efforts in helping make these donations a possibility. GTX Corp has been providing Health & Safety products for over 18 years and is a proud U.S. Military & Government Supplier with many of its products made in U.S.A. & Europe; and warehoused in Los Angeles for fast next day shipping at www.gtxmask.com
"As America reopens for business and the community at large pitches in the help our first responders, we were honored to supply and donate essential PPE masks to Global Trac and help support their philanthropic cause," stated Patrick Bertagna, GTX Corp CEO.
In other active company news in the markets this week:
Inovio Pharmaceuticals, Inc. (NASDAQ: INO) the International Vaccine Institute (IVI), and Seoul National University Hospital recently announced a partnership to start a Phase 1/2 clinical trial of INOVIO's COVID-19 vaccine INO-4800 in South Korea at a signing ceremony. In attendance at the ceremony at SNU Hospital were IVI's Director General Dr. Jerome Kim and Deputy Director General of Science Dr. Manki Song, Dr. Anh Wartel (Associate Director General of EPIC and Head of Clinical Development and Regulatory) and Dr. Daniel Chul Woo Rhee (Project Lead), and SNU Hospital's President Yon Su Kim and Prof. Myung Don Oh.
The 2-stage trial of INO-4800, the first clinical study of COVID-19 vaccine in Korea, will assess the safety, tolerability, and immunogenicity of the candidate vaccine in 40 healthy adults aged 19-50 years, and will further expand to enroll an additional 120 people aged 19-64 years.
Alpha Pro Tech, Ltd. (NYSE: APT) recently announced financial results for the three month period ended March 31, 2020 and provided an update on personal protective equipment ("PPE") orders resulting from the COVID-19 pandemic. Lloyd Hoffman, President and Chief Executive Officer of Alpha Pro Tech, commented, "The unprecedented surge in demand for our personal protective equipment, otherwise known as PPE, resulting from the outbreak of the coronavirus, COVID-19, particularly our N-95 Particulate Respirator face mask and face shields, drove quarterly sales and significantly higher gross profit for the first quarter. We are incredibly proud of our employees and their ability to adjust and respond to evolving circumstances and to successfully navigate industry changes and macro-economic cycles in these unprecedented times. Our initial response to the tremendous spike in demand for our N-95 face masks, which are 100% sourced and manufactured in the United States, was quick and demonstrates our continued commitment to navigating an ever-changing landscape. We are working diligently to expand production capacity of our N-95 face mask and our face shields in order to meet the extreme demand for these products."
GTX Corp (OTCPK: GTXO), a pioneer in the field of health and safety wearable technology, recently announced that it is launching masks made specifically for children and students along with UV wands. "As schools and universities consider reopening, safety is top of mind for both parents and administrators," commented Patrick Bertagna, CEO of GTX Corp. "We have been looking at the school market for some time and see there is a need for children and young adults of all ages to have specialized Personal Protective Equipment ("PPE") for them to return to school safely. Young kids need masks that are properly sized and comfortable. Adjustable, washable and offered in kid friendly colors; high school and college students want masks that represent their school colors, logos, mascots, etc., so we see a big opportunity and believe the timing is now to launch products that are custom designed and geared for this demographic."
Sorrento Therapeutics, Inc. (NASDAQ: SRNE) recently announced that an Application for Emergency Use Authorization (EUA) is under review at the U.S. Food and Drug Administration (FDA) for its COVI-TRACKTM in vitro diagnostic test kit for the independent detection of IgG and IgM antibodies in sera of patients exposed to the SARS-CoV-2 virus.
The rapid antibody test allows for results to be available in eight minutes or less. The easy to use assay develops three clear lines that confirm the assay validity and the qualitative detection and differentiation of IgM and IgG antibodies to the SARS-CoV-2 virus.
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