(MENAFN- The Express Wire)
Posted on Mar 15 2022 9:20 AM
'The GCC Medical Gloves market was valued at US$ 145.0 Mn in 2020. Expanding at a 7.9% CAGR, the market valuation is projected to reach US$ 340.3 Mn by 2031.'
[250 Pages Report] According to a recent study by Future Market Insights (FMI), the GCC medical gloves market is reached US$ 145 Mn in 2020. With sales growing at a healthy 7.9% CAGR, the market valuation is set to reach US$ 340.3 Mn by 2031.
Modernization of lifestyles in GCC countries has resulted into a rise in elective surgeries which are not crucial for an individual to survive but have more of an optional nature. Elective surgeries like plastic surgery, liposuction, rhinoplasty, chest augmentation, chest reduction, blepharoplasty, etc. have been getting increasingly popular in countries like Dubai and other Gulf countries. These surgeries ultimately require a supply of necessary medical supplies including medical gloves, thereby increasing their demand.
When performing any type of surgeries, chances of glove punctures while using single set of gloves are high. Therefore, professionals use double set of gloves to avoid the possibility of contamination of sterile surgical equipment. These“double gloving” practices are expected to continue boosting sales over the assessment period.
Key Takeaways:
- By raw material, the latex material segment is expected to hold 80.2% of the total market share in 2021, expanding at 7.9% CAGR during the forecast period.
- Based on product type, the examination gloves segment is projected to command 55.6% of total sales in 2021, expanding at 8.1% CAGR.
- By form, the powdered form segment is expected to hold 63.7% of the total market share in 2021, expanding at 8.0% CAGR.
- By type of use, sales of disposable gloves are anticipated to hold 90.5% of the total market share 2021, and are to projected to increase at a robust 8.0% CAGR over the forecast period.
- By end use, hospitals will account for 67.2% of total sales in 2021.
- By distribution channel, the direct selling channel will account for 55.1% of the total market share in 2021.
- Kingdom of Saudi Arabia (KSA) is anticipated to hold the largest share of 76.2% of the GCC medical gloves market in 2021.
Scope of the Report
Who is winning?
Leading players operating in the market are investing in mergers, acquisitions and collaborations with existing players and healthcare institutes to gain a competitive edge. For instance:
In August 2020, Ansell Healthcare Products LLC collaborated with Nordic company ONeMEd with an aim to expand their customer base in the Nordic countries. Ansell is one of the global leaders in hand protection equipment.
The key market players covered by FMI include Paul Hartmann AG,Hotpack Packaging Industries LLC,Falcon (Falcon Pack),Deeko Bahrain,Salalah Medical Supplies Mfg. Co. LLC,United Medical Industries,NAFA Enterprises Ltd.,Liberty Industries, Inc.,Ansell Healthcare,Mckesson Corporation,Cardinal Health, Inc.,Medline Indsutries, Inc.,Dynarex Corporation,Top Glove Corporation Berhad,Kimberly-Clark Corporation,Semperit AG Holding
Why Future Market Insights?
• Comprehensive analysis on evolving purchase pattern across different geographies
• Detailed insights of market segments and sub-segments for historical as well as forecast period
• A competitive analysis of prominent players and emerging players in the keyword market
• Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years
Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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