The Latex Gloves Market growth will obtain a CAGR of 9 % and a significant market value in the forecast period between 2022 to 2030.
Latex gloves are disposable items specifically made for medical examinations and surgical procedures. The beneficial feature is that it reduces cross-contamination between health professionals and patients. The Latex gloves market is enhancing due to the rise in awareness of hygiene and safety in the healthcare sector. These gloves are highly utilized in various industrial verticals such as food, biotechnology, healthcare, pharmaceutical, automobile, etc. The gloves provide safety during physical contact with toxic chemicals, reactive materials, and unhygienic conditions. The higher demand from the end-users concerning product quality control, workers' safety, hygiene, and protection against harmful chemicals are driving the Latex Gloves Market.
The medical sector is highly driving the Latex gloves market because it is widely used by healthcare professionals, doctors, and surgeons to prevent contamination and infection. Moreover, it is also utilized in household tasks like washing and cleaning.
The developments of industrial players and their product developments are driving the market's performance. The upcoming innovation and improvements to enhance product quality accelerate the Latex gloves market demand. All these factors will simultaneously drive the Latex Gloves Market growth.
Prominent players in the global latex gloves market include Ansell Healthcare (US), Hartalega Holdings Berhad (Malaysia), Cardinal Health (US), Top Glove Corporation Bhd (Malaysia), Kossan Rubber Industries Bhd (Malaysia), Supermax Corporation Berhad (Malaysia), Clean Q Grip (Malaysia), MREPC MARKETPLACE (Malaysia), SHIELD Scientific (The Netherlands), Rubberex (Malaysia), UG Healthcare (Malaysia), and Valutek (US).
Showa Group on earth day has announced its biodegradable, single-use, nitrile gloves. It has been cleared through FDA's 510(k) process. The Showa M7005PFA gloves are the first biodegradable nitrile gloves for medical usage. The company will be the only integrated manufacturer of fully made nitrile and single-use PPE gloves in the United States.
The medical gloves market were incorporated with Showa's Eco Best Technology during the launch in 2012 for biodegradable nitrile gloves. The material composition will include the decomposition within five years in active landfills. It is way better when compared with other conventional nitrile gloves. The company also partnered with Zeon Chemicals to secure nitrile butadiene latex.
The global latex gloves market is segmented by form, sterile type, end-users, and region. Based on the form, the latex gloves market is segmented into powdered gloves and non-powdered gloves. Non-powdered gloves have more applications in surgeries and other sensitive procedures.
Based on the Sterile Type, the latex gloves market is segmented into sterile gloves and non-sterile gloves. Sterile gloves are likely to have higher demand during the forecast period due to the rising preference of healthcare providers for using sterile gloves to avoid contamination.
Based on End Users, the global latex gloves market is segmented into hospitals, clinics, ambulatory surgery centers, diagnostic imaging centers, rehabilitation centers, and others. The hospital end-user segment is likely to hold a significant share of the global market during the forecast period.
The global latex gloves market is expected to witness moderate growth during the forecast period owing to the rising awareness regarding hygiene and safety among healthcare professionals and patients. The wide scope of applications for latex gloves is likely to drive product demand in the coming years.
Based on region, the global latex gloves market is segmented into North America, Europe, Asia-Pacific, and the rest of the World. In 2019, North America was the leading market for latex gloves in terms of revenue, owing to the rising prevalence of diseases and the rising demand for sterile gloves. The market in North America is expected to register significant growth during the forecast period. Emerging markets such as Asia-Pacific are expected to witness high growth from 2020 to 2026 due to the increasing patient population and growing health care industry in the region. Among developing countries, the markets in Brazil, China, and India are expected to witness robust growth between 2020 and 2026, due to growing investments by governments of these countries to improve health care facilities.
|Market Size||2030: Significant value|
|CAGR||9% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Form, Sterile Type and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Ansell Healthcare (US), Hartalega Holdings Berhad (Malaysia), Cardinal Health (US), Top Glove Corporation Bhd (Malaysia), Kossan Rubber Industries Bhd (Malaysia), Supermax Corporation Berhad (Malaysia), Clean Q Grip (Malaysia), MREPC MARKETPLACE (Malaysia), SHIELD Scientific (The Netherlands), Rubberex (Malaysia), UG Healthcare (Malaysia), and Valutek (US).|
|Key Market Opportunities||rising concerns regarding hygiene, product quality, and safety, the latex gloves market is projected to grow exponentially in the near future.|
|Key Market Drivers||rising awareness regarding hygiene and safety among healthcare workers and patients.|
Global latex gloves market is projected to grow at approximately 9% CAGR during the assessment period (2020-2027).
Sterile gloves is the largest type segment in the global latex gloves market.
North America holds the largest share in the global latex gloves market, followed by Europe and Asia Pacific region, respectively.
Hartalega Holdings Berhad (Malaysia), Ansell Healthcare (US), Cardinal Health (US), Kossan Rubber Industries Bhd (Malaysia), Top Glove Corporation Bhd (Malaysia), Supermax Corporation Berhad (Malaysia), MREPC MARKETPLACE (Malaysia), Clean Q Grip (Malaysia), SHIELD Scientific (The Netherlands), UG Healthcare (Malaysia), Rubberex (Malaysia), and Valutek (US), are some of the top players operating in the global latex gloves market.
Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global latex gloves market adopt to gain a larger competitive advantage.