ID: MRFR/HC/8229-HCR | 100 Pages | Published By Rahul Gotadki on April 2023
Medical Gloves Market is Set to Rise at a CAGR of 8.73% with USD17, 399.81 Million by 2027
According to the latest research report, the global medical gloves market size was valued at USD 8,638.19 million in 2019 and is predicted to grow to USD 17,399.81 million by the end of the year 2027, according to industry estimates. From 2020 to 2027, the industry is expected to increase at an annual rate of 8.73%. Medical gloves are worn during a medical assessment or while performing a variety of treatments in the medical field. These are single-use gloves that are used to avoid cross-contamination between physicians, nurses, and other caregivers, as well as between patients. These are often constructed of synthetic polymers or rubberized substances such as latex, neoprene, vinyl, or nitrile, amongst other things. Among the protective equipment available, gloves serve to provide a barrier between microorganisms and the user's hands.
Growing concerns for security, cleanliness, and quality of the product, as well as advancements in technology and new research, as well as a higher incidence of mild and severe ailments, are some of the primary reasons contributing to the market's expansion and expansion. Therefore, it is expected that the need for medical gloves will expand in the future years as people seek some sufficient security from corrosion inhibitors and surface pollution as well as the transfer of infectious illnesses.
This report contains all the information on the global medical gloves market analysis and its strengths. In addition, the report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other essential factors. And a detailed analysis of the global market of medical gloves is also included in the report.
Covid 19 Analysis
This new COVID-19 pandemic has caused unprecedented worry for global health and benefited the medical glove industry. However, the corona virus epidemic has impacted the sourcing, transportation, and distribution network of raw materials and established travel bans that impede the flow of commodities. In order to prevent the spread of disease, though, there has been an increase in the need for protective equipment and emergency aid. In addition, as a result of the epidemic, the general public's awareness of the need for personal protective equipment has increased dramatically.
A rise in the occurrence of chronic conditions, increasing safety risks and hygiene, stringent guidelines regarding the use of protective equipment, and an increase in the number of health facilities in developing nations are some of the key factors fueling the expansion of the medical gloves market growth in recent years.
The non-powdered glove market is predicted to increase at a higher pace than the powdered glove industry, owing to the fact that it is used in surgery, but powdered gloves slow down the recovery process. In addition, the medical and health care industries are expanding at a rapid pace, which is fueling the expansion of the disposable gloves business, which is a need in this sector due to the fact that disposable gloves are an essential product.
Although this industry is growing, it is being held back by increased price rivalry among producers, unpleasant responses to specific gloves, and the ecological effects of natural rubber manufacturing and disposal.
However, the costs of raw materials are constantly shifting, and currency changes add to the difficulties of operating in this market.
Cumulative Growth Analysis
Furthermore, the Food and Drug Administration of the United States has decided to restrict powdery gloves due to a significant danger of disease or infection to users. This may reduce consumption. Medical gloves are tightly supervised by the Food and Drug Administration of the United States and are categorized as Class I restricted medical equipment. As a result, a 510(k) premarket notice is required for these gloves before they may be sold commercially. The FDA supervises this equipment to ensure that they retain the basic requirements, such as tear protection, leakage resistance, and biocompatibility, that are required.
Value Chain Analysis
According to the reports, the global medical gloves market is segmented on the basis of product type, usage, form, raw material, end-users, and regions. Non-invasive physical examinations are used in clinics and nursing centers to assist non-invasive physical examinations, therefore reducing the risk of cross-contamination amongst patients and caregivers. They are excellent for usage in filthy environments since they can be thrown off after each use. This is the category with the quickest growth. Disposable gloves are intended for one-time usage only. Due to the thinner nature of disposable gloves, they allow for increased responsiveness. These may provide protection against minor irritants and toxins. This category accounts for the majority of the medical gloves market's outlook and is the fastest-growing sector.
Nitrile is a synthetic rubber latex made from the copolymer Acrylonitrile Butadiene. These are long-lasting and provide excellent traction in a variety of conditions, including wet, dry, and greasy. During the projected period, nitrile gloves are predicted to be the fastest-growing sector in the industry. There are many significant segments in the medical gloves industry. For example, the quantity of disposable gloves necessary for halting infection in clinics and hospitals includes latex and nitrile gloves, as well as vinyl gloves and vinyl gloves. This is the category with the quickest and most significant growth.
The market is segmented based on product type, usage, form, raw material, end-users, and regions. The global medical gloves market trends are expected to witness decent growth during the forecast period.
Based on the Application, the market is segmented into Nitrile rubber, Vinyl rubber, Neoprene, and Polyethylene.
Based on the propulsion types, the market is segmented into Hospitals and Clinics, Ambulatory surgery centers, Diagnostic Centers, and Rehabilitation centers.
According to the reports, the global market of medical gloves is divided into America, Europe, Asia Pacific, Middle East and Africa. The Americas are claimed to be the world's biggest market for medical gloves in the business. The usage of medical gloves to prevent cross-contamination and transmission has become more critical since the number of COVID 19 patients has increased to more than 13,000 and is expected to continue to rise. The medical gloves market share in Europe is the 2nd largest market in the world, behind the United States. Increasing demand for medical gloves, the implementation of rigorous regulations aimed at preventing cross-contamination in hospitals, and increased supply will all contribute to significant development in the medical gloves market throughout the projection timeframe.
Asia-Pacific is widely recognized as the region with the fastest-growing business in the medical gloves sector. The expansion of the healthcare industry is a boon to economic development. With an expansion in the utilization of surgical procedures, it is projected that the desire would grow. In addition, higher security issues and cleanliness difficulties resulting from worldwide outbreaks, changes in safety regulations in healthcare facilities, and growing use of bio-safety gear are all driving the medical gloves market value in the Middle East and African countries.
The most notable leaders prioritize close collaboration, acquisitions, and partnerships in order to develop their businesses and introduce new goods in order to increase their profit share. Additionally, these industry leaders are engaging in research and innovation operations that will allow them to generate the tremendous amount of income possible.
Medical Gloves Market Key Players
The following report comprises of –
Product Type Insights
Form Type Insights
Material Type Insights
Usage Type Insights
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Usage, Form, Raw Material and End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Supermax Corporation Berhad, Glove Corporation Berhad, Rubberex Corp. M Bhd, BraunMelsungen AG, Semperit AG Holding, Mckesson Corporation, Cardinal Health, Inc., Medline Industries, Inc., Dynarex Corporation, Ansell Limited, Cypress Medical Products LLC, Microflex Corporation|
|Key Market Opportunities||Rising Cases of COVID-19, are expected to create Huge Demand for Personal Protective Equipment, including Medical Gloves.|
|Key Market Drivers||
Global Medical Gloves Market is expected to record a substantial market valuation of USD 17.4 billion by 2027.
Global Medical Gloves Market is projected to register a moderate 8.73% CAGR in the forecast period.
The polyethene segment is expected to observe substantial demand over the review period.
The hospital and clinics segment is slated to expand as the fastest-growing segment.
A few emminent market players operating in the global medical gloves market are Weatherford (US), Schlumberger Limited (US), Halliburton (US), among others.