Dublin, Jan. 06, 2023 (GLOBE NEWSWIRE) -- The "Global Disposable Gloves Market Size, Segments, Outlook, and Revenue Forecast 2022-2030 by Product, Form, Application, End-User, and Major Regions" report has been added to ResearchAndMarkets.com's offering.
The Global Disposable Gloves Market is expected to record a positive CAGR of nearly 6% during the forecast period (2022-2030). The market was estimated to be the size of US$7 billion in 2019 and US$10 billion in 2022. It is expected to reach a size of US$15 billion by 2030.
According to the World Health Organization's 2021 report on Global Health Expenditure, global spending on health more than doubled in real terms from 2000 to 2019, reaching US$8.5 trillion in 2019, equivalent to 9.8% of global GDP.
According to the healthcare industry publication Pharmaceutical Technology, the spending was expected to go further up to US$8.8 trillion in 2021. Increased investment in improving the public healthcare system boosted the market for protective medical equipment, such as disposable gloves.
The Asia Pacific region is expected to grow fastest in the forecasted period due to the large number of players operating in the region. As per the Malaysian Institute of Chemistry's August 2022 report, 65% of the global output of rubber gloves will be produced in Malaysia in 2022, followed by 20% in China, 10% in Thailand, and 3% in Indonesia.
Since the disposable gloves market was boosted by the COVID-19 outbreak, it started decelerating with the fading away of the intensity of the pandemic. For instance, Top Glove, one of the major leading manufacturers of gloves in Malaysia reported sales of US$0.32 billion during the third quarter of FY22, down 64% from US$0.91 billion reported last year. With the Covid19 pandemic slowing down, the market for gloves and protective equipment is consolidating and expected to harm the growth of the disposable gloves market.
Covid19 pandemic had a positive impact on the disposable gloves market. Rubberex, one of the key manufacturers of disposable gloves, mentioned in its annual report for FY21 that sales volume growth for nitrile disposable gloves saw an increase of 23.6% from 2020 to 2021, with approximately 1.2 billion pieces sold versus 970.5 million pieces in 2020. Also, the average glove selling price increased from US$53/1000 pieces to US$73/1000 pieces from 2020 to 2021.
Scope of the Report
Top Glove Bhd
Kossan Rubber Industries
Cardinal Health Inc
Sri Trang Gloves
Supermax Corporation Berhad
Comfort Rubber Gloves Industries
Key Trends by Market Segment
By Product: Nitrile holds the largest share of the Global Disposable Gloves market.
Nitrile gloves are in the market for a long time. Yet, declining prices and potential application in multiple new industries make it a potentially high-reward investment opportunity for the future.
By Form: Powder-free gloves tend to be stronger than powdered gloves. Powdered gloves contain a corn-starch powder that may result in allergies or sensitivity.
Powdered-free gloves are strongly suited for manufacturing industries, food industries, chemicals, and others.
Studies show that powdered free gloves held approximately 75% of the market in 2021 and would continue to dominate the disposable gloves' form segment.
By Application: The surgical segment holds the largest market share by application in the Global Disposable Gloves Market as the number of surgeries is increasing worldwide.
Increasing Covid19 infections also led to a surge in surgeries. For instance, the total number of procedures done in 2020, in Germany alone, was 858,553, while in Korea 702621 surgeries were conducted.
Examination disposable gloves are expected to grow in the forecasted period, because of their growing use in various industries, including food processing, chemical, automotive, etc.
By End-User: Medical and Healthcare industries are the foremost end users of disposable gloves. Disposable gloves are used to prevent cross-contamination between patients and doctors. Since these disposable gloves are one-time usable, they should be dumped after surgical procedures and recycled again.
Medicals remain the prominent end-user for disposable gloves and hold the major chunk of the market.
However, as the gloves are getting upgraded as per evolving market demands, it is possible that non-medical end users also become important buyers for the gloves industry.
By Geography: North America accounts for the largest share of the Global Disposable Gloves market. The Asia Pacific region is expected to be the fastest-growing in the forecasted period.
The Asia Pacific region is expected to be the fastest-growing region among others. The surge is expected to be driven by the presence of large glove manufacturing players in the region and developing economies. In the rubber gloves segment, Malaysia holds the major chunk of the market with 51% of the global share.
Opportunities in the North American market are driven by the awareness among people regarding infectious viruses, and diverse precautionary measures adopted by national governments. In 2020, the United States ranked as the top net importer with US$455 million worth of rubber surgical gloves.
Key Topics Covered in the Report
Snapshot of Global Disposable Gloves Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Disposable Gloves Market
Historic Growth of Overall Global Disposable Gloves Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter's 5 Forces Analysis of Global Disposable Gloves Industry
Overview, Product Offerings, and SWOT Analysis of Key Competitors
Covid 19 Impact on the Overall Global Disposable Gloves Market
Future Market Forecast and Growth Rates of the Total Global Disposable Gloves Market and by Segments
Market Size of Application/End User Segments with Historical CAGR and Future Forecasts
Analysis of Global Disposable Gloves Market
Major Production/Consumption Hubs in the Global Disposable Gloves
Major Production/Supply and Consumption/Demand Hubs in Each Major Regions
Major Region-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Region
For more information about this report visit https://www.researchandmarkets.com/r/k8zcp8
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