Medical Gloves Market size worth over $13.5 Bn by 2026

Medical Gloves Market size is set to exceed USD 13.5 billion by 2026; according to a new research report by Global Market Insights, Inc.
 

Increasing geriatric population across the globe will significantly boost the medical gloves market expansion. The geriatric population shows an increased incidence of chronic diseases that requires surgical intervention that in turn will increase the demand for medical gloves, thereby boosting the industry growth.  

 

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Rising prevalence of aging population couple with chronic diseases in North America and Asia to propel market growth

Growing prevalence of aging population coupled with rising awareness on hygiene & infection control, increasing healthcare spending in the emerging economies such as India and China where the usage of medical gloves is rapidly increasing are some of the factors boosting the market growth. Technological advancements in providing the customized designs to cater to precise industry demands is expected to witness a positive impact on the market growth.
 

Furthermore, rigorous government norms pertaining to the safety of doctors and patients along with other staff at hospitals have accelerated the usage of medical gloves in the healthcare sector. In addition, high penalties for non-compliance are further pushing the medical sector to adopt the medical gloves, thereby protecting people from contamination or chemicals that will further enhance the market growth. Thus, rising prevalence of chronic disorders in North America and Asia coupled with the large geriatric population will spur the medical gloves market expansion over 2020-2026.
 

Asia Pacific Medical Gloves Market

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Growing demand for nitrile gloves over latex gloves will spur the demand

Nitrile gloves held substantial revenue in 2019 and is estimated to exceed 17.5% CAGR during the forecast years. This high growth is attributed to the several facts it possesses such as cost effective, tactility, comfort, chemical resistance, improved heat dissipation and less environmental issues. Furthermore, nitrile medical gloves are quickly advancing and is rapidly taking over as the material of choice in cleanrooms, hospitals and other medical industries. Hence, owing to the benefits of these new nitrile medical gloves products as an alternative to latex medical gloves the segmental market is expected to project the substantial growth in the upcoming years.
 

Growing demand for powder-free gloves will spur the demand for overall medical gloves market

The powder-free gloves held the largest revenue in 2019 and was valued at USD 5.6 billion and is anticipated to witness the significant growth over the analysis timeframe. The high market revenue is owing to the rising health concern pertaining to the use of powdered gloves. In addition, the current ban imposed by the Food and Drug administration on using the powdered gloves in healthcare facilities also decreases the demand for powdered nitrile gloves. Thus, the above-mentioned factors are positively impacting the growth of powder-free nitrile gloves market.
 

Browse key industry insights spread across 850 pages with 2,266 market data tables & 23 figures & charts from the report,Medical Gloves Market Size By Product (Latex Gloves, Nitrile Gloves, Vinyl Gloves, Neoprene Gloves), By Form (Powder-free Gloves, Powdered Gloves), By Application (Examination Gloves, Surgical Gloves), By Usage (Disposable Gloves, Reusable Gloves), By Sterility (Sterile Gloves, Non-sterile Gloves), By Distribution Channel (Brick and Mortar, E-commerce), By End-use (Hospitals, Clinics, Ambulatory Surgical Centers, Diagnostic Centers), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020– 2026in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/medical-gloves-market
 

High tensile strength and cost effectiveness will boost the demand for surgical gloves

Surgical gloves market is anticipated to witness the lucrative growth at 10.5% during 2020 to 2026. These gloves are classified under medical devices and is particularly designed to offer high tensile strength, sensitivity, tactility and accuracy that a surgical team requires. Furthermore, a rapid shift towards nitrile surgical medical gloves due to its resistance to needle sticks & abrasions, protection from the contamination and assist in preventing bacteria and other pathogens from entering the sterile surgical area are some of the factors boosting the medical gloves market growth.
 

Rising demand for disposable gloves in medical industry will bolster the segmental growth

The disposable gloves market held the largest revenue in 2019 and was valued at USD 5.6 billion. The high growth can be attributed to the growing demand for these gloves in pharmaceutical, biotechnology industry, healthcare and medical facilities among others. Rising awareness regarding health safety and growing number of surgeries across the globe are further propelling the demand for these gloves. Hence, the above-mentioned factors will boost the product demand in the upcoming years.
 

High demand for non-sterile gloves will boost adoption rates

Non-sterile gloves held the largest medical gloves market share of around 58% in 2019 and is expected to follow the same trend during 2020 to 2026. Non-sterile gloves are cost-effective, poses no higher risk of infection for non-surgical procedures as compared to sterile gloves. These gloves are further used for the majority of medical procedures that falls under non-surgical.
 

Growing digitization in healthcare will propel the segmental growth

E-commerce segment will witness a momentous growth at 11.6% over the forecast period. Healthcare is entering into a phase of rapid transformation and digitization in healthcare especially products, services and others are making healthcare system available and easy around the globe. Growing demand for ordering medical supplies such as syringes and medical gloves online has reduced the supply chain labor cost by 80% according to amazon. Furthermore, in 2017, Amazon made up 35% of online medical supply and healthcare sales and generated around USD 2.1 billion. Thus, owing to this the market will witness a significant growth in the projected timeframe.
 

Rising number of surgical procedures will boost the market growth

Hospitals segment witnessed the largest medical gloves market share in 2019 and is expected to project a lucrative growth in the upcoming years. The high growth is attributed to the growing number of surgical procedures that are performed in a hospital setting. Furthermore, to prevent the contamination of pathogens the demand for these gloves have increased dramatically, thereby propelling the business growth. Hence, these factors will contribute to the segmental growth in the future.
 

Growing number of chronic disease leads to the surgical procedures that will make Asia Pacific a lucrative market

Asia Pacific market will witness a significant growth at 12.5% in the upcoming years. The growth can be attributed to high geriatric population in the region as the present population is aging drastically. Furthermore, growing usage of these gloves in surgical procedures along with food & beverages sector will propel the business growth in the region. Countries like Japan, China, India will see the huge demand for medical gloves owing to rising cases of surgical procedures. Hence, the above-mentioned factors will contribute to the regional business expansion over the analysis timeframe.
 

UK medical gloves market is predicted to showcase substantial growth over the forecast period at 8.5% CAGR. The high growth rate can be attributed to the growing adoption of nitrile gloves over the latex gloves that leads to allergies is further boosting the business growth. Moreover, growing medical tourism, implementation of strict regulations in order to prevent the cross contamination in hospitals will significantly boost the business growth. Thus, owing to these factors the business will witness the enormous growth in the country.
 

Companies focusing on innovative products and rapid production of nitrile gloves to meet the competitive pressure

Some of the leading players in medical gloves market share include Top Glove Corporation Berhad, Supermax Corporation Berhad, Semperit AG Holding, Kossan Rubber Industries Bhd., Cardinal Health, Inc., Ansell Limited, AKZENTA INTERNATIONAL SA, BERNER International GmbH, ERENLER MEDIKAL, SHIELD Scientific, Robinson Healthcare, Hartalega Holdings Berhad, Medline Industries, Inc., Leboo Healthcare Products Limited, Sun Healthcare Sdn Bhd, and Rubberex. These companies are focusing on various strategies such as, strategic partnerships and acquisitions to consolidate their market presence, new product launches and rapid production yield.
 

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