Surgical Gloves Market revenue worth over $4 Bn by 2026
Published Date: March 27, 2020 Authors: Sumant Ugalmugale, Rupali Swain
Surgical Gloves Market size is predicted to cross USD 4 billion by 2026; according to a new research report by Global Market Insights, Inc.
Rising number of chronic diseases coupled with growing number of surgeries across the globe will significantly boost the market expansion. Rising awareness pertaining to antimicrobial gloves among healthcare professionals is further impelling the demand for the gloves that in turn will render a positive impact on the market growth in the forecast timeframe.
Rising prevalence of corona virus coupled with chronic diseases across the globe will propel the market growth
Growing outbreak of pandemic diseases such as corona virus (Covid-19) across the globe will propel the demand for surgical gloves market across the globe. According to a recent news published, the Indian government has announced, by the end of March the country will procure 10 million pieces of surgical gloves and 20 million pieces of nitrile gloves that will help the healthcare professionals and patients from protecting against contamination with viruses and bacteria.
In addition, growing number of surgeries, rising awareness on hygiene & infection control, increasing aging population coupled with chronic diseases and high penalties for non-compliance are some other factors that are rendering a positive impact on the surgical gloves market growth. Thus, rising prevalence of Covid-19 across the globe along with growing geriatric population will spur the market expansion over the forecast period.
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Browse key industry insights spread across 700 pages with 1,950 market data tables & 21 figures & charts from the report,"Surgical Gloves Market Size By Product (Latex Gloves, Nitrile Gloves, Vinyl Gloves, Neoprene Gloves), By Form (Powder-free Gloves, Powdered 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– 2026” in detail along with the table of contents:
Growing demand for nitrile gloves over latex gloves will spur the growth
Nitrile gloves market held substantial revenue in 2019 and is estimated to expand at more than 18% CAGR during the forecast period. The high growth is due to various reasons such as that these gloves are biodegradable, environmentally friendly, cost effective, and chemical resistance. Furthermore, nitrile surgical gloves consumption is rapidly growing each year and is taking over as the material of choice in hospitals, cleanrooms, and other medical industries. Hence, owing to the benefits of the new nitrile surgical gloves products as an alternative to latex gloves the segmental market is expected to project the substantial growth in the upcoming years.
Ban on powdered gloves will witness the decline in the global market
The powdered gloves have witnessed reduction in the market share from the past few years. This is due to the ban imposed on powdered gloves in January 2017, by Food and Drug Administration (FDA) and various other countries have started to minimize the use of powdered gloves. The major reasons for imposing the ban are severe respiratory issues, growing allergic reactions among patients, wound inflammation, adverse effects on breathing and others. Thus, the above-mentioned factors are some of the reasons that are responsible for the ban on powdered surgical gloves that in turn will lead to the decline of the market growth.
Growing adoption of reusable gloves in medical industry will bolster the segmental growth
The reusable surgical gloves market revenue is estimated to grow at more than 8% in the upcoming years. The high growth can be attributed to the factor that this type of glove offers better skin protection due to its increased thickness. Also, the reusable gloves provide protection against hazardous chemicals and also prevents from contamination. Hence, owing to the above-mentioned factors the market will witness significant product demand in the coming years.
High demand for non-sterile gloves will boost adoption rates
Non-sterile gloves segment is expected to witness more than 9.5% growth in the coming years. Rising demand for these gloves is owing to several factors such as growing aging population and enhancing world economy. Also, increasing awareness regarding infection control benefits, and immense investment for specialized patient care are some other factors contributing into the surgical gloves market growth.
Growing product sales via e-commerce will propel the segmental growth
E-commerce segment will witness a momentous growth at more than 12% through 2026. The segment acts as a major propelling factor for the key players to augment the product sales, expand service offerings and venture into the surgical glove industry. With the rise of e-commerce channel, distributors are capable of supplying products to the end-users in less time and rapid delivery to meet the consumer demand. Thus, owing to these factors the business will witness a significant growth in the projected timeframe.
Rising number of healthcare facilities across the globe will boost the market growth
Hospitals segment held the largest surgical gloves market revenue share in 2019 and was valued at USD 779.5 million. Growing product application in hospitals for hygiene is one of the factors that is contributing to the business growth. Rising awareness pertaining to the gloves that offers protection against pathogens among healthcare professionals has uplifted the business growth positively. Moreover, states with higher concentration of healthcare facilities such as hospitals and clinics will witness significant demand for the surgical gloves.
Growing number of chronic diseases leading to surgical procedures will make Asia Pacific a lucrative market
Asia Pacific surgical gloves market is expected to witness high market growth at around 13% through 2026. The high growth can be attributed to increasing awareness among healthcare professionals regarding antimicrobial surgical gloves that provide effective protection against the viruses and bacteria. Growing number of chronic diseases that require surgeries and rapidly increasing medical and healthcare industry that in turn has increased the demand for surgical gloves.
Furthermore, growing adoption of surgical gloves in China has further propelled the business growth. The factors associated to the growth are rising number of healthcare professionals, significant improvements in the living standard, growing aged population, and stringent rules against infection controls.
The UK surgical gloves market demand is anticipated to showcase growth at 9% over 2020 to 2026. The high growth rate is due to the growing number of corona virus affected patients and implementation of strict regulations in order to prevent the cross contamination in hospitals. Furthermore, increased spending in the country’s medical sector is expected to drive product demand in the coming years.
Companies focusing on innovative products and rapid production of nitrile gloves to meet the competitive pressure
Some of the leading players in surgical gloves market share include Ansell Limited, Cardinal Health, Inc., Robinson Healthcare, Top Glove Corporation Berhad, Semperit AG Holding, Hartalega Holdings Berhad, Kossan Rubber Industries Bhd., AKZENTA INTERNATIONAL SA, Leboo Healthcare Products Limited, Supermax Corporation Berhad, BERNER International GmbH, ERENLER MEDIKAL, SHIELD Scientific, Medline Industries, Inc., Sun Healthcare Sdn Bhd, and Rubberex. Mergers and acquisitions, partnerships, and product launch are some of the key strategies taken by these companies to increase their service offerings and geographical reach.
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