PALM BEACH, Fla., March 17, 2021 /PRNewswire/ — While many industries have suffered during the global pandemic, there are those few whose fortunes are being made because of COVID. The Personal Protective Equipment Market is one of the latter industries. The mass spread infection scale of COVID-19 has led to a burgeoning demand for PPEs around the globe, which is estimated to be elevated during the course of the current pandemic. The COVID-19 pandemic has had such positive impact on the market due to increasing demand for a wide range of PPE, such as gloves, masks, face-shields, and coveralls, especially from the healthcare sector, to avoid the spread of the virus. These special equipment items create a barrier between the personnel and germs often found in the medical environments. The barrier blocks the transmission of contaminants from blood, body fluids, or respiratory secretions. Though it was usually used by doctors, nurses, and cleanroom workers only… now it is now also worn by patients to control the spread of germs at the source and hospitals… and on the streets. Industry reports repeatedly project substantial growth in the PPR markets. One article, by Allied Market Research projected that the global Healthcare PPE market, which was valued at $12.9 billion in 2019, is projected to reach $33.4 billion by 2027, growing at a CAGR of 12.4% from 2020 to 2027… while another report from Grand View Research projects and even higher goal saying that the Personal Protective Equipment Market will reach $123.38 Billion by 2027 at a CAGR of 9.6%… both pretty impressive numbers. Active biotech companies in the market this week include Moderna, Inc. (NASDAQ: MRNA), Maitri Health Technologies Corp. (OTCPK: MHTCF) (CSE: MTEC), Co-Diagnostics, Inc. (NASDAQ: CODX), Adaptive Biotechnologies Corporation (NASDAQ: ADPT), Novavax, Inc. (NASDAQ: NVAX).
The Allied report added: “In the product segment, protective clothing accounted for the largest market share, owing to increase in use of coverall, gowns, and scrubs as a basic requirement for any healthcare personnel or patient. Protective clothing is expected to grow at a CAGR of 11.9%. However, respiratory protection PPE is projected to grow at a highest CAGR of 14%, owing to rise in the usage of face masks by general public due to the outbreak of COVID-19. It continued: “Health ministries have implemented stringent regulations for the health and safety of the healthcare professionals for the adequate availability, allocation, usage, and disposal of PPEs. The Occupational Safety and Health Administration (OSHA), Centers for Disease Control and Prevention (CDC), and the World Health Organization (WHO) are some of the agencies that issue proper guidelines and frameworks for the healthcare professionals. Moreover, countries around the world are increasing the share of GDP on the healthcare expenditure to provide better facilities to its citizens. Both public as well as private players are investing in new hospitals, in-home healthcare services, and primary healthcare centers. This is expected to create new consumers for PPE, contributing to the growth of the global healthcare PPE market.”
Maitri Health Technologies Corp. (OTCPK: MHTCF) (CSE: MTEC) BREAKING NEWS: Maitri Health Technologies Announces Health Canada Approval of Domestically Manufactured N95 Masks – Medical-grade protective gear designed and made in Canada; Offers greater certainty regarding source, quality and timely delivery of genuine N95 masks – Maitri Health Technologies Corp. (“Maitri”), a global platform for healthcare supply security, today announced the availability of N95 medical-grade protective masks, one of the few, domestically manufactured N95 masks to receive Health Canada certification.
N95 masks are among the most in-demand and difficult to source pieces of personal protective equipment (PPE) commonly used by hospital, healthcare and other frontline workers. N95 masks filter out at least 95 per cent of very small particles, including airborne droplets.
Maitri’s N95 masks, manufactured in Port Coquitlam, B.C. through an exclusive partnership with INNO Lifecare, were approved by Health Canada in March.
“Maitri is delivering what governments and organizations across Canada have sorely needed and requested since the beginning of the pandemic – a domestically manufactured and certified N95 mask,” said Andrew Morton, CEO of Maitri.
“Only a handful of Canadian companies have been approved to build and sell N95 masks here and we’ve immediately added this lifesaving PPE to our healthcare security platform.”
Demand for N95 masks has exceeded the supply globally and in Canada news reports have highlighted how healthcare workers and businesses were shortchanged on international orders, or worse, shipped counterfeit or uncertified N95 masks that put people at greater risk of exposure and illness.
Maitri’s N95 masks are a form-cut, cup mask that provides a tight seal to the face yet is comfortable to wear.
“Medical personnel and frontline workers will remain in harm’s way for the foreseeable future, for the current and other healthcare crises,” said Morton. “We also expect ongoing demand from healthcare facilities, factories and workplaces where personal safety remains the top priority. By supplying domestically manufactured N95 masks, we can offer Canadian governments and businesses peace of mind about the source, quality and timely delivery of critical PPE.”
N95 masks join certified surgical masks, face shields, disinfectants and sanitizers that make up Maitri’s comprehensive suite of PPE. Maitri’s unique healthcare supply security platform combines PPE with an integrated, seamless digital solution. Maitri helps organizations manage and monitor PPE and people by tracking vaccinations, activities, inventories and more – all with the goal of keeping people safer and businesses and economies running.Continued…. Read this full release and more news for Maitri Health Technologies at: https://www.financialnewsmedia.com/news-mtec/
Other recent developments in the healthcare industry with regards to Covid include:
Co-Diagnostics, Inc. (NASDAQ: CODX), a molecular diagnostics company with a unique, patented platform for the development of diagnostic tests, recently announced that laboratory partner Clinical Reference Laboratory’s (CRL) FDA-authorized Rapid Response COVID-19 Saliva Test, which uses Co-Diagnostics CoPrimer™ technology, is now available through Walgreens Find Care®, allowing consumers a convenient, non-invasive option for PCR-based COVID-19 testing from their own homes.
Adaptive Biotechnologies Corporation (NASDAQ: ADPT), a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, recently announced that the U.S. Food and Drug Administration (FDA) issued an Emergency Use Authorization (EUA) for T-Detect™ COVID to confirm recent or prior COVID-19 infection. This first-in-class T cell- based test is the first indication resulting from Adaptive’s TCR-Antigen Map collaboration with Microsoft
“We are proud to receive FDA Emergency Use Authorization for T-Detect COVID, the first indication in an entirely new class of tests that use T cells in the blood to detect disease. People who have been unsure about a prior infection will now have another way to know if they had the virus,” said Chad Robins, chief executive officer of Adaptive Biotechnologies. “The authorization of T-Detect COVID represents a true breakthrough for patients and a pivotal milestone for the diagnostic testing paradigm. We have proven that it is possible to read how T cells detect disease in the blood, and this is just the beginning of a pipeline of tests for many other indications.”
Novavax, Inc. (Nasdaq: NVAX), a biotechnology company developing next-generation vaccines for serious infectious diseases, recently announced final efficacy of 96.4% against mild, moderate and severe disease caused by the original COVID-19 strain in a pivotal Phase 3 trial in the United Kingdom (U.K.) of NVX–CoV2373, the company’s vaccine candidate. The company also announced the complete analysis of its Phase 2b trial taking place in South Africa, with efficacy of 55.4% among the HIV- negative trial participants in a region where the vast majority of strains are B1.351 escape variants. Across both trials, NVX-CoV2373 demonstrated 100% protection against severe disease, including all hospitalization and death. Both studies achieved their statistical success criteria. Today’s final analyses build on the successful interim results announced in January 2021, adding substantially more COVID-19 cases and statistical power.
Moderna Inc. (NASDAQ: MRNA), a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, recently announced that the first participants have been dosed in the Phase 2/3 study, called the KidCOVE study, of mRNA-1273, the Company’s vaccine candidate against COVID-19, in children ages 6 months to less than 12 years. The study is being conducted in collaboration with the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH) and the Biomedical Advanced Research and Development Authority (BARDA), part of the Office of the Assistant Secretary for Preparedness and Response at the U.S. Department of Health and Human Services.
“We are pleased to begin this Phase 2/3 study of mRNA-1273 in healthy children in the U.S. and Canada and we thank NIAID and BARDA for their collaboration,” said Stéphane Bancel, Chief Executive Officer of Moderna. “It is humbling to know that 17.8 million adults in the U.S. have received the Moderna COVID-19 Vaccine to date. We are encouraged by the primary analysis of the Phase 3 COVE study of mRNA-1273 in adults ages 18 and above and this pediatric study will help us assess the potential safety and immunogenicity of our COVID-19 vaccine candidate in this important younger age population.”
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