Medical Gloves Market Size

Medical Gloves Market Size

Medical Gloves Market size was valued at around USD 21,071 million in 2021 and is estimated to witness a CAGR of over 18.2% from 2022 to 2030 owing to the increasing awareness regarding the safety and hygiene among people due to rising prevalence of several infectious diseases. Increasing number of healthcare facilities in developing countries, growing prevalence of various chronic diseases and notable advancements related to medical gloves is anticipated to generate immense growth opportunities in the market.

To get key market trends

  Download Free Sample

Availability of advanced and variety of medical gloves for treatment, examination and surgical procedures is contributing to the medical gloves market revenue. In developing nations, the prevalence rate of contagious diseases has long been the leading cause of mortality and morbidity.

Moreover, initiatives for increasing healthcare expenditure and developing infrastructure by several nations has significantly proven beneficial for the medical gloves market. Therefore, supportive government initiatives to create awareness regarding safety and hygiene along with chronic disease conditions are further expected to positively impact the market growth.
 

Medical gloves are personal protective equipment intended to prevent spread of infection and contaminations during patient examination and medical procedures. These gloves act as a barrier and provide protection against any bacterial or fungal infection and safeguard from hazardous chemicals.
 

The strict prices by several market players for same quality gloves has resulted in lowering the market value among the customers thereby hindering their adoption rate, especially in emerging markets. Emergence of COVID-19 propelled the demand of medical gloves for several healthcare procedures. This resulted in adoption of competitive pricing strategies by several market player for customer acquisition.
 

For instance, the price of nitrile gloves from Top Glove Corporation Berhad is around USD 24.0 per thousand pieces and the price for similar gloves from Medline Industries, Inc. is around USD 100. In the short run, this cost will be a major factor restricting medical gloves market for some players in the industry. However, in the long run, it will have minimal influence as manufacturers innovate to make their products more affordable.
 

The COVID-19 outbreak arose as an unprecedented public health concern affecting global industrial sectors, including healthcare services and medical procedures. The COVID-19 pandemic increased the disease burden and clogged healthcare systems with a large influx of coronavirus-infected patients, causing other medical services to suffer. The revised standard operating procedures amended by government regulators, which incorporate social distancing norms and use of PPE kits, have had a favourable impact on the medical gloves market share.
 

Coronavirus being an infectious disease is highly contagious and can spread through touch and other viral mediums. Personal protective equipment’s were made compulsory for all healthcare professionals which included different type of medical gloves for appropriate procedures.
 

Guidelines and norms suggested by the U.S. Food and Drug Administration (FDA) and World Health Organization (WHO), included strict use of medical gloves for all healthcare procedures including examination, surgical interventions, routine check-up, tests, etc. This resulted in high demand of medical gloves in 2020 to safeguard patients and doctors from cross contamination of the disease.
 

Advancements in medical gloves has increased treatment compliance and promoted the acceptance of medical gloves positively. However, as the prevalence rate of Covid-19 decreased, the demand for personal protective equipment dropped in 2022 resulting in pre-pandemic demand levels for medical gloves. Therefore, effective implementation of strategies to minimize infections and other risks during COVID-19 pandemic surged the demand for medical gloves and is anticipated to uplift the business growth in the coming years positively.