Market value of medical gloves – US $ 13,465.2 million by 2028 |
Acumen Research and Consulting recently published a report titled “Medical Gloves Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2021-2028”.
NEW YORK, October 28, 2021 (GLOBE NEWSWIRE) – The world medical gloves market counted US $ 6,321.2 million in 2020 with a considerable 12.5% CAGR during the analysis period from 2021 to 2028.
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Impact of COVID-19 on the medical gloves market
The global medical gloves market has changed since the outbreak of the pandemic as it changed the perspective on the transmission of risk. The usefulness of medical gloves having become an essential source of protection, it has now spread to the general population. As a result, it has become an essential source of protection against COVID-19 infection, both for frontline warriors and the general public. The UN report says that with the rise of COVID-19, the UN and its alliances have ensured that personal protective equipment and other life-saving supplies reach frontline workers and ordinary people at a rate higher. In early April 2020, the UN announced the launch of the COVID-19 Supply Chain Working Group to massively scale up the procurement and delivery of PPE and other biomedical equipment.
In addition, in April 2020, the UN launched an urgent appeal for US $ 350 million to rapidly expand common logistics services. Apart from that, the World Health Organization (WHO) report states that nearly half a million sets of PPE have been supplied to 47 countries. In addition, based on WHO modeling, approximately 76 million examination gloves were in demand. These were managed by WHO in collaboration with government, industry players and the pandemic supply chain network to increase production and secure allocations for severely affected countries and to high risk. To meet such accelerated demand, the WHO has estimated that industry needs to increase manufacturing by nearly 40%.
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The global medical gloves market is segmented on the basis of product, type of use, application, distribution channel, and end user. By product, the market is segmented into latex or natural rubber, nitrile butadiene rubber, polyvinyl chloride, chloroprene, and others. By type of use, the market is categorized into disposable and reusable. By Application, the market is separated into Examination, Surgery, and Chemotherapy. By distribution channel, the market is divided into online and offline. Further, the end user is segmented into hospitals, clinics, outpatient surgical centers, diagnostic centers and rehabilitation centers.
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Nitrile butadiene rubber accounted for US $ 1,187.9 million in 2020 with a compound annual growth rate of 8.7% during the analysis period of 2021 to 2028
On the basis of the product, the nitrile butadiene rubber segment will dominate the overall medical gloves market with maximum share during the analysis period of 2021 to 2028. As the nitrile butadiene rubber is composed of synthetic latex with milky color, it is widely used in rubber drops intended for medical purposes and laboratory gloves. These latexes have excellent properties coupled with good tensile strength, which contributes significantly to fueling the demand for NBR in the healthcare industry.
On the basis of the type of use, the reusable gloves segment accounted for a significant share in 2020 with a growth rate of around 7% during the projected period of 2021 to 2028
As government participation plays a vital role for the utility of reusable gloves, it has gained significant importance in the market. The Health Care Without Harm report states that decontamination of single-use protective clothing is, however, only an emergency practice and does not solve the shortage crisis. Therefore, hospitals and buyers should focus their efforts on adopting safe and reusable medical gloves by meeting the environmental and social criteria of the products. In addition, they should focus on supporting innovation towards more durable and reusable items.
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North America dominates the medical gloves market with growth of 8.4% in 2020; Asia-Pacific Expected to Record Fastest Growing CAGR for 2021-2028 Forecast Period
North America dominates the medical gloves market and will continue a similar trend until the forecast period. The presence of key manufacturers in this region is one of the major factors positively impacting the growth of the regional market. For example, in September 2021, American Nitrile, a new company in Columbus, announced the construction of the most advanced US manufacturing facility dedicated to the production of nitrile gloves for healthcare, government and industry. .
On the other hand, Asia-Pacific is expected to register a record CAGR for the medical gloves market in the coming years. The growing awareness among healthcare professionals related to the high use of disposable gloves in countries like India and China has witnessed an acceleration in demand for medical gloves in the healthcare sector. It is one of the most influential factors for regional growth.
The major players in the global medical gloves market are Top Glove Corporation Bhd, Supermax Corporation Berhad, Semperit AG Holding, Cardinal Health, Ansell Limited, SHIELD Scientific, Medline Industries, Inc., MRK Healthcare Pvt. Ltd., Primus Gloves Private Limited, HBM Protection, Shandong Yuyuan Latex Gloves Co., Ltd., Raysen Healthcare Products Co., Ltd., Pidegree Industrial Co., INTCO Medical, Bluesail Medical Co., Ltd., Hartalega Holdings Berhad, Sri Trang and Healthium gloves.
The medical gloves market is highly competitive and fragmented due to the presence of a large number of multinational and local players. The main players are constantly looking to increase their market share.
- In May 2020, Healthium announced the launch of new antimicrobial gloves, namely “Trushield”. Manufactured in Karnataka, India, these AMGs are made using patented technology using a quaternary ammonium compound that kills microbes and provides 99.99% protection for healthcare professionals and patients up to 8 time.
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