Disposable Medical Gloves Market to Exhibit 10.6% CAGR and Reach USD 14.03 Billion by 2027; Launch of User-friendly Gloves to Augment Growth, says Fortune Business Insights™
Fortune Business Insights
8 min read
Key Prominent Players Covered in the Disposable Medical Gloves Market Research Report Are Kossan Rubber Industries Bhd, Halyard Health, Ansell Ltd, KANAM LATEX INDUSTRIES PVT LTD, Top Glove Corporation Bhd, Elite Surgical, Hartalega Holdings Bhd, Dynarex Corporation, Mölnlycke Health Care AB, Cardinal Health and other key market players.
Pune, India, Nov. 23, 2020 (GLOBE NEWSWIRE) -- The global disposable medical gloves market is projected to gain impetus from the increasing awareness about health and safety, especially after the COVID-19 pandemic. Medical gloves or disposable gloves are used by medical practitioners during surgical or examining procedures. A recent report by Fortune Business Insights titled. The market will hit USD 14.03 billion by the end of 2027 from USD 5.95 billion in the year 2019. The forecast period is set between 2020 to 2027, and the market is expected to rise at a CAGR of 10.6%.
KEY INDUSTRY DEVELOPMENTS:
August 2019: Top Glove Corporation Bhd announced the initiation of industry-academia collaboration by granting a research grant to University Teknologi Malaysia (UTM) for the performing of glove industry related research.
June 2019: Top Glove Corporation Bhd announced the launch of its newest medical glove, the BioGreen Biodegradable Nitrile Gloves (Powder-Free) and is the environmentally safe variation of its disposable nitrile gloves.
Covid-19 Pandemic Propelling Personal Hygiene to Boost Market
The increasing use of disposable gloves in the healthcare sector for personal health safety has propelled the medical gloves market. Additionally, the outbreak of several epidemics, especially the current COVID-19 pandemic and its emerging health threats has further increased the demand for disposable medical gloves from both the general public and healthcare professionals, thereby boosting the market growth.
This, coupled with the increasing adoption of disposable gloves by various ends user industries such as beauty and skincare, food and beverage industry, and others will also add impetus to the market in the coming years.
On the flip side, long term exposure to medical gloves may result in skin rashes, irritation, itchiness, and other skin issues, thereby hampering the market in the coming years. Nevertheless, increasing efforts by the players to launch user-friendly disposable gloves made of different materials are likely to create lucrative business opportunities for the market in the coming years.
North America Held Largest Share Owing to Stringent Health Regulations Imposed by Government on Personal Health and Safety
Geographically, North America earned USD 2.26 billion and emerged as the region with the highest disposable medical gloves market share in 2019, followed by Europe. This is attributable to the growing awareness about prevention of healthcare-related infections. The increasing demand for better quality polyisoprene medical gloves for surgical purpose is also adding a boost to the regional market growth.
On the other side, Asia Pacific market will emerge as the fastest-growing region on account of the increasing adoption of nitrile gloves for medical examination procedures. This is further attributable to the decline in the cost of nitrile gloves and their puncture resistance features. Furthermore, the market in the Middle East and Africa is expected to rise significantly in the coming years on account of the rising medical awareness and expenditure on infrastructural development.
Hospitals and Clinics Sector Holding Highest Share Owing to Their Increasing Number
The global disposable medical gloves market is dominated by the hospitals and clinics segment with a 52.2% share. This is owing to the increasing number of private and public hospitals and clinics in developing countries such as India and China.
Companies Focusing on Launch of Allergy-free Gloves to Compete for Top Position
The global market for disposable medical gloves is consolidated on account of a few players holding major shares. The worldwide demand for rubber gloves is rising at a CAGR of 8 to 10% per year. Most of the Malaysian suppliers have a firm grip on the rubber gloves demand and supply chain.
Companies such as Hartlega Holdings Bhd., Top Glove Corporation, and others are holding about 63% or more of the rubber gloves supply chain on account of the availability of natural rubber latex in the Malaysian region. On the other side, Molnlycke Health Care AB, Cardinal Health, and Ansell are the leading players dealing in surgical gloves.
Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market
Studies published by relevant associations MedTech Europe; American College of Radiology; Cancer Council Australia; Japan Hospital Association, etc.), government sources (Centers for Disease Control & Prevention, Ministry of Health, Labour & Welfare, Japan; National Health Service, England, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Research Gate, NCBI, etc.
Website, reports, and press releases of end user facilities – Hospitals, Ambulatory Surgery Centres, Clinics
Industry journals and paid databases
SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
Number of procedures and average price of procedures
Replacement rate and pricing of capital equipment
Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
Market & technological trends, new product developments, product pipeline.
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