ID: MRFR/IA - E/8646-HCR | 120 Pages | Author: Snehal Singh | June 2023
Latex Gloves Market Size is expected to at a CAGR of 9% during the forecast period 2022-2030
The latex gloves market is projected to register a CAGR of 9% from 2022 to 2030. Disposable latex gloves are goods designed primarily for medical exams and surgical operations. The characteristic that makes it advantageous is that it lessens patient-health professional cross-contamination. The latex gloves market size is expected to reach approximately USD significant Market value by 2030. As per the latex gloves market report, the market for latex gloves is expanding as a result of increased hygienic and safety consciousness in the healthcare industry. These gloves are extensively used in many industrial sectors, including the food, biotechnology, healthcare, pharmaceutical, and automotive industries. The gloves offer protection while coming into personal touch with dangerous substances, flammable materials, and unsanitary environments. The market for latex gloves is being driven by the increased demand from end users for worker safety, hygiene, and protection against hazardous substances.
The economy and healthcare system suffered as a result of the COVID-19 pandemic. The lockdown has an effect on the supply chains for medical devices, biotech products, and pharmaceuticals. The focus has been on research and development on the other side. All governmental agencies and healthcare industry participants favor the development of COVID-19 diagnostics and treatment options. The clinical management of COVID-19 must include preventing hospital-acquired infections because they are a common aspect of novel coronavirus outbreaks and can be spread by medical gloves. 11.3% of COVID-19 patients in 314 hospitals in the United Kingdom contracted the virus after being admitted, according to the study "Hospital-Acquired SARS-CoV-2 Infection in the United Kingdom's First COVID-19 Pandemic Wave," which was published in August 2021. In May 2020, this rate jumped to 15.8%. As a result, the outbreak has affected how healthcare facilities handle infections picked up in hospitals.
The growing awareness of cleanliness and safety among medical professionals and patients is the major factor propelling the market for latex gloves. The pharmaceutical, healthcare, food, biotechnology, automotive, and other industries have all employed latex gloves. When performing various tasks that include hazardous chemicals, reactive materials, or unsanitary circumstances, latex gloves help protect. The need for latex gloves is expected to increase in the future due to the need for worker safety, product quality control, hygiene, and chemical protection. Additionally, doctors, nurses, and surgeons are increasingly using latex gloves to prevent infections and other risks. Furthermore, latex gloves can be used for washing and cleaning the home. Because of the growing attention being paid to hygiene, product quality, and safety, the market for latex gloves is expected to rise steadily in the future.
During the latex gloves market forecast period, the increase in demand for latex gloves across a range of end-use sectors, including chemical, automotive aftermarket, food processing, food service, pharmaceutical, and industrial research & development, is anticipated to have a significant impact on latex gloves market growth. The use of latex gloves across many industries, particularly the food & beverage processing and the food service industries ly, is primarily driven by the rising consciousness regarding health and hygiene and the shifting focus towards cleanliness and a safe environment.
The main concern for the manufacturers is the hazards related to wearing latex gloves. Some polymers are one of the main sources of irritability for some doctors and may prevent future business growth. However, skin allergies and irritation produced by latex gloves are important restrictions to its growth. Solvent-based adhesives are being transitioned out of the gloves due to small puncture holes existing in the gloves, which will challenge the market growth rate.
Over the projection period, industry growth is anticipated to be fuelled by strict legislation, high expenditures connected with workplace risk, and expanding industry participant awareness of worker safety & security at work. Governments from all over the world are spending a lot of money to ensure that there will be enough Personal Protective Equipment (PPE), which includes items like gowns, gloves, face shields, and masks, during the pandemic in 2020. In order to provide PPE directly and gain a competitive edge, major market players are also collaborating with hospitals, medical facilities, and NGOs.
Based on form, the latex gloves market has been divided into powdered and non-powdered. The latex gloves market growth was prominently high under the non-powdered segment held a major share in 2021. Due to their chlorination, these gloves are less form-fitting, eliminating the need for powder and facilitating easy don and take off. Throughout the projection period, it is predicted that demand for these gloves will increase due to their popularity in sectors like medical, food processing, and chemical.
Based on sterile type, the latex gloves market is divided into sterile and non-sterile. The silicone hydrogel lens category dominated the market for contact lenses in 2021 due to non-sterile gloves are being used more frequently for a variety of treatment and examination purposes in different hospitals, clinics, ambulatory surgery centers, etc. Non-sterile gloves for non-surgical operations are economical and carry a low risk of infection. Unlike sterile gloves, which are often single use and must be thrown away after use, these gloves can be worn more than once.
Based on the end-user, the market is divided into diagnostic centers, hospitals & clinics, ambulatory surgery centers, rehabilitation centers, and others. The hospitals & clinics segment had a significant share in 2021 due to the fact that doctors and patients frequently use them to stop cross-contamination and the spread of pathogens during medical tests and procedures.
By region, the latex gloves market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the most extensive market share. Asia Pacific will exhibit the highest CAGR during the forecast period.
North America dominated the market share in 2021. The COVID-19 countries that the U.S. was one of the worst hits. Throughout the epidemic, there was an abrupt increase in demand for disposable gloves in North America. Additionally, the increased prevalence of chronic diseases, the growing geriatric population, rising healthcare costs, and higher demand for surgical operations in the area are some of the key factors that have accelerated the expansion of the North American disposable glove market
As per the latex gloves market research, Asia Pacific accounted for the second-largest market share in the market in 2021. In the forecast year, it is anticipated that the demand for disposable gloves will increase due to the fast-expanding medical and healthcare sector as well as rising investments in other sectors, including food and beverage, chemical and petrochemicals, construction, and mining. The Asia Pacific disposable glove market is expanding as a result of growing awareness of health, hygiene, healthcare-associated illnesses, and other infections.
The market includes tier-1, tier-2, and local players. The key market participants generally pursue the new market categories. In manufacturing, specialized robots programmed for a particular work environment are generally preferable to the crash barrier systems. Investment is anticipated to strengthen the company's leadership in sterile packaging solutions. Furthermore, In April 2022, in partnership with the Agency for Development of Pharmaceutical Industry (ADPI) under the Health Ministry of Uzbekistan and Ayu Pharm LLC, surgical latex gloves were first produced in Kyrgyzstan.
Key players in the market include Ansell Healthcare (U.S.), Hartalega Holdings Berhad (Malaysia), Cardinal Health (U.S.), Top Glove Corporation Bhd (Malaysia), Supermax Corporation Berhad (Malaysia), Kossan Rubber Industries Bhd (Malaysia), MREPC MARKETPLACE (Malaysia), SHIELD Scientific (The Netherlands), Clean Q Grip (Malaysia), Rubberex (Malaysia), U.G. Healthcare (Malaysia), Valutek (U.S.)., among others.
The objectives of the study are summarized in 5 stages. They are as mentioned below:
To identify and estimate the latex gloves market size for the contact lenses segmented by form, sterile type, and end user by value (in US dollars). Also, to understand the consumption/ demand created by consumers of latex gloves between 2022 and 2030
To identify and infer the drivers, restraints, opportunities, and challenges.
To find out the factors which are affecting the sales of latex gloves among consumers
To identify and understand the various factors involved in the market affected by the pandemic
To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
|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.|
The latex gloves market forecast period is 2022 - 2030
The market is expected to register a CAGR of 9% over the next 10 years, according to the latex gloves market research.
Asia Pacific is expected to register the highest CAGR during 2022 - 2030
North America held the largest share in 2021
The market size is expected to be USD significant Market Value by 2030.
Ansell Healthcare (U.S.), Hartalega Holdings Berhad (Malaysia), Cardinal Health (U.S.), Top Glove Corporation Bhd (Malaysia), and Clean Q Grip (Malaysia) are the major companies operating in the market.
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