(MENAFN- GlobeNewsWire - Nasdaq) Pune, India, Nov. 24, 2021 (GLOBE NEWSWIRE) -- The global disposable medical gloves market size is projected to reach USD 11.52 billion by 2027, exhibiting a CAGR of -0.19% during the forecast period. The market is expected to gain impetus from the increasing awareness about health and safety, especially amid 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,“Disposable Medical Gloves Market Size, Share & COVID-19 Impact Analysis, By Application (Surgical and Examination), By Material (Latex and Synthetic), By Category (Powdered and Powder-free) End User (Hospitals & Clinics, Diagnostic/Pathology Labs, and Others), and Regional Forecast 2020-2027,” states that the market will hit USD 11.52 billion by the end of 2027 from USD 5.98 billion in the year 2019. The forecast period is set between 2020 and 2027, and the market is expected to rise at a CAGR of -0.19%, a negative growth rate, reflecting strong growth in the year 2020 due to the COVID-19 impact.
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Growing Awareness about Personal Hygiene amid Covid-19 to Propel the Market
The increasing use of disposable gloves in the healthcare sector for personal health safety has propelled the medical gloves market growth. 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 market growth. This, coupled with the increasing adoption of disposable gloves by various end-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 market players to launch user-friendly disposable gloves made from different materials are likely to create lucrative business opportunities for the market in the coming years.
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North America Held Largest Share Backed by Stringent Health & Safety Regulations
Geographically, North America generated USD 2.68 billion in revenue 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 purposes is also giving a boost to the regional market growth.
On the other hand, Asia Pacific will emerge as the fastest-growing region in the market 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.
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Companies to Focus on Launching Allergy-free Gloves to Compete for Top Position
The global market for disposable medical gloves is consolidated on account of a few players holding the majority shares. Most of the Malaysian suppliers have a firm grip on the rubber gloves demand and supply chain. Companies such as Hartalega 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. These players are engaging in product expansion activities. They are therefore investing heavily in developing allergy-free gloves and alternatives to powdered latex gloves for gaining a competitive position in the market.
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June 2019 – A new medical glove was launched by Top Glove Corporation Bhd called the BioGreen Biodegradable Nitrile Gloves. They are environment-friendly in nature and are powder-free, thereby serving as a safer version of the company's disposable nitrile gloves.
Some of the Key Players of this Market include:
- Kossan Rubber Industries Bhd (Selangor, Malaysia)
- Halyard Health (Georgia, United States)
- Ansell Ltd (Richmond, Australia)
- KANAM LATEX INDUSTRIES PVT LTD (Kerala, India)
- Top Glove Corporation Bhd (Shah Alam, Malaysia)
- Elite Surgical
- Hartalega Holdings Bhd (Kuala Lumpur, Malaysia)
- Dynarex Corporation (New York, United States)
- Mölnlycke Health Care AB (Gothenburg, Sweden)
- Cardinal Health (Ohio, United States)
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