Dublin, May 13, 2022 (GLOBE NEWSWIRE) -- The "Medical Gloves - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Medical Gloves Market to Reach US$29.8 Billion by the Year 2026
Amid the COVID-19 crisis, the global market for Medical Gloves estimated at US$21.8 Billion in the year 2022, is projected to reach a revised size of US$29.8 Billion by 2026, growing at a CAGR of 13.2% over the analysis period.
Although a commodity, the criticality of medical gloves continues to rise in wake of growing spread of infectious diseases, increasing incidence of hospital-acquired infections, and growing awareness on safety. In an era where infectious diseases such as the ongoing COVID-19 pandemic, AIDS, SARS, Dengue, Ebola and Zika elude medical defenses and treatment, the need for superior quality and highly functional protective gloves is more pronounced than ever in endeavors to prevent spread of diseases in hospitals.
The need and demand for disposable types of medical gloves surged in the wake of growing nosocomial or hospital acquired infections over the years. The technology behind medical gloves has grown considerably over the years. Persistent increase in incidence of infectious and chronic diseases, rising concerns over personal safety and sanitation and strict regulations in place pertinent to the use of personal protective equipment are fueling demand for medical gloves. Also driving growth is the development of healthcare infrastructure in developing nations and the increase in number of hospitals and other care facilities.
Examination Gloves, one of the segments analyzed in the report, is projected to grow at a 14% CAGR to reach US$26.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Surgical Gloves segment is readjusted to a revised 9.7% CAGR for the next 7-year period.
This segment currently accounts for a 20.7% share of the global Medical Gloves market. Examination gloves are widely used due to their extensive use by medical practitioners during patient examinations. As the number of infectious diseases continue to increase around the world, the demand for examination gloves is on the rise.
In the coming years, the growing need for early detection and diagnosis of diseases and the steady rise in routine diagnostic tests will spur demand for examination gloves. Surgical gloves, used while performing surgical procedures, are witnessing growing demand led by the rise in surgeries in both developed and developing regions. Growing prevalence of chronic diseases and other medical conditions that contribute to the need for surgical interventions is giving impetus to the market.
The U.S. Market is Estimated at $6.9 Billion in 2022, While China is Forecast to Reach $6 Billion by 2026
The Medical Gloves market in the U.S. is estimated at US$6.9 Billion in the year 2022. The country currently accounts for a 31.7% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$6 Billion in the year 2026 trailing a CAGR of 15.1% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.3% and 12% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.1% CAGR while Rest of European market (as defined in the study) will reach US$676.4 Million by the end of the analysis period.
The United States dominates the global market for medical gloves on account of high level of awareness about hygiene and the role of these gloves in preventing spread of infectious diseases. The US is poised to retain its leading position in the coming years due to its advanced healthcare setup, strong focus on minimizing the risk of healthcare associated infections and increasing demand for quality polyisoprene medical gloves in surgeries.
The market is also propelled by high cost of medical gloves and the presence of numerous suppliers across the region. In addition, the presence of an extensive base of patient population and high R&D investment are anticipated to drive regional adoption of disposable medical gloves.
Europe is projected to remain the second leading market in the global medical gloves market due to increasing healthcare spending and extensive adoption of disposable medical gloves while performing surgical procedures. Increasing medical tourism, efficient supply chain, and enforcement of stringent regulations to control cross-contamination are anticipated to help the regional market in exhibiting incremental gains.
While developed regions remain major revenue contributors, developing regions, especially China and Asia-Pacific, have evolved into fastest growing regional markets. Growing healthcare spending and a significant base of patient population are likely to present lucrative opportunities in China. While similar trends prevail in Asia-Pacific, the regional market is also anticipated to gain from growing prevalence of chronic and infectious diseases.
Rising cases of chronic diseases like diabetic foot ulcer and cancer along with infective conditions including STDs and HIV across emerging countries are expected to provide a notable impetus to the market. Asia-Pacific is also the leading provider of rubber gloves and plays an important role in addressing global demand.
The region's dominance is attributed to the presence of advanced rubber manufacturing units in Malaysia, Thailand and Indonesia. The regional market for medical gloves is likely to be also propelled by increasing medical tourism, adoption of sophisticated products and rising healthcare awareness across rural areas.
What's New for 2022?
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to the publisher's digital archives and Research Platform
Complimentary updates for one year
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Gloves Become an Important Weapon to Fight Against COVID-19 Pandemic
Pandemic Propels Production and Sales of Medical Gloves
Risk of Skin Damage due to Excessive Glove Usage: A Concern Amidst the Pandemic
Excessive Glove Usage and Increase in Medical Waste Give Rise to Environmental Concerns
Pandemic Leads to Spike in Prices of Medical Gloves
Medical Gloves: Global Market Prospects & Outlook
Disposable Medical Gloves Find Wider Acceptance
Surgical Gloves to Post Healthy Gains
Powder-Free Gloves Enjoy High Popularity
Hospitals & Clinics Remain Primary End-User of Disposable Medical Gloves
Developed Regions Remain Major Revenue Contributors, Developing Regions Evolve into Fastest Growing Markets
Global Production Landscape: Malaysia Leads the Production of Disposable Gloves
Malaysia Ramps Up Production to Cater to Surging Global Demand Amidst the Pandemic
Top Glove: The Largest Rubber Glove Manufacturer
Top Gloves Manufacturers Worldwide: Capacity in Billion Pieces for Top Glove, Hartalega, Kossan, and Supermax
Hartalega Leads in Nitrile Gloves Segment
Supermax & Kossan: Other Leading Malaysian Manufacturers
Medical Gloves: An Introduction
Polymer Coatings: Technological Advancements
Benefits & Drawbacks of Latex and Non-Latex Gloves
Types of Medical Gloves
Powdered and Powder-Free Gloves
Recent Market Activity
2. FOCUS ON SELECT PLAYERSSelect Competitors (Total 229 Featured)
Ansell Healthcare Products, LLC
B. Braun Melsungen AG
Cardinal Health, Inc.
Cypress Medical Products, LLC
Halyard Health, Inc.
Hartalega Holdings Bhd
Kossan Rubber Industries BHD
Molnlycke Health Care AB
Paul Hartmann AG
Rubberex Corporation (M) Berhad
Semperit AG Holding
Shijiazhuang Hongray Group
Supermax Corporation Berhad
Top Glove Corporation Bhd
Vulkan Medical AS
3. MARKET TRENDS & DRIVERS
An Insight into Global Rubber Gloves Market
Innovations Drive Growth
Focus on Hygiene & Safety Amidst the Pandemic to Fuel Demand for Disposable Medical Gloves
Surging Demand for Disposable Gloves Amidst the COVID-19 Pandemic
Significance of Hand Protection in Hospitals and Laboratories Drives Demand for Medical Gloves
Rising Number of Medical Professionals and Surgeries Drive Growth in Market
Rising Incidence of Hospital Acquired Infections Propels Market Growth
Rising Cases of Chronic Wounds Propel Need for Medical Gloves
Growth in Number of Surgical Procedures to Propel Demand
Medical Gloves Demand Benefits from the Rise in Number of Cosmetic & Plastic Surgeries
Increasing Patient Population & Medical Tourism Propel the Market
Growing Needs of Aging Population Spur Demand for Medical Gloves
Improving Healthcare Expenditure Turbo Charges Demand
Rise in Number of Diagnostic Laboratories Spurs Demand for Medical Gloves
Trend towards Powderless Examination Gloves for Medical Use
Latex Gloves Rapidly Lose Share to Synthetic Gloves
Nitrile Gloves: An Effective Synthetic Alternative to Natural Rubber Latex Gloves
Nitrile Gloves Market Witnesses Exponential Demand amid COVID-19 Crisis
Nitrile Gloves Witness Surging Demand
Medical Nitrile Gloves Market Endows Stellar Opportunities for Growth
Vinyl Disposable Gloves Laced with Inherent Drawbacks
Manufacturers of NR Latex Gloves Rise to the Challenge
Underplayed Advantages of NRL: Hoping to Reinstate Consumer Confidence
Surgical Gloves: Shaped by Comfort, Fit & Barrier Protection
COVID-19-Induced Shortages of Surgical Gloves despite Capacity Expansions
Surgical Gloves Market Posts Healthy Growth as Demand Continues Skewing Upside
Pent-Up Elective Surgery Demand Bodes Well for Surgical Gloves
Exploding Demand & Price Spree Enjoyed by Surgical Gloves to Subside Gradually
Sustainability as Prominent Buzzword in Surgical Gloves Space
New Surgical Gloves to Mitigate Risk of Allergic Contact Dermatitis
Popularity of Ambulatory Surgical Centers Surges Demand for Surgical Gloves
Implementation of Double Gloving Practice Spurs Growth Opportunities
Amidst Concerns over Environmental Pollution, Environmentally Friendly Gloves Find Favor
Future of Powdered Gloves Precariously Hangs in Balance
Product Variables for Commercial Success
Managed Care Vs. Cost Concerns
Industry Upbeat on the Technology & Innovation Front
Hartalega Develops Non-Leaching Antimicrobial Gloves with Active Ingredient
Technology/Product Breakthroughs in Recent Years
Demand and Supply Dynamics
Durability of Medical Gloves: A Key Issue
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
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