Disposable Gloves Market Expected to Reach $18,885.88 Million by 2027
According to a new report published by Allied Market Research, titled, “Disposable Gloves Market by Type, Form, Application, and Region: Opportunity Analysis and Industry Forecast, 2020–2027," The global disposable gloves market was valued at $6,858.07 million in 2019, and is expected to reach $18,885.88 million by 2027 at a CAGR of 13.1% during the forecast period.
Disposable gloves form an essential part in maintaining hygienic conditions, ensuring security of patients and caregivers, and safeguarding against infections. These are used while performing laboratory experiments to ensure safety of personnel. The use of gloves minimizes possibility of infection, pathogens, and other external factors. Adoption of disposable gloves has been a prerequisite for medical applications across the world. Advent of newer manufacturing technologies, increase in awareness regarding benefits of disposable gloves and improved healthcare practices are expected to catalyze the market growth.
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Medical gloves are essential during the COVID-19 outbreak. They help slow the spread of the disease by protecting hands from coarse contaminants and protect health care providers. Medical gloves is a form part of the personal protective equipment (PPE) that are used to protect health care professionals and patients from spread of infection. In addition, in May 2020, CDC recommended that the use of gloves should be during food handling, cleaning, gardening, trades, or caring for someone who is sick, and while in contact with blood, stool, or body fluids, such as saliva, mucus, vomit, and urine.
The market for disposable gloves is primarily driven by their requirement in medical and surgical applications to ensure safety and hygiene. In addition, growth in number of end users, such as healthcare, pharma, and food industries, is expected to supplement the market growth. However, toxic reaction from certain gloves as well as competition pricing offered by local manufacturers hamper the market growth. Moreover, advancements in technology related to development of novel disposable gloves are expected to create lucrative opportunities for the market players in the future.
The demand for disposable gloves is expected to rise in the future, owing to necessity for product quality control, workers safety, hygiene, and protection. Healthcare professional, doctors, and surgeons use medical gloves during surgeries and other activities to prevent infection and cross contamination. Furthermore, disposable gloves have applications in household purposes for cleaning and dish washing. Thus, the market for disposable gloves is expected to grow in the near future, owing to rise in concern for safety, hygiene, and product quality.
By type, the nitrile gloves segment was the highest contributor to the global disposable gloves market revenue as these are widely used in healthcare settings for protection against disinfectants and other related harmful chemical agents.
By form, the powder form segment is expected to dominate the global disposable gloves market during the forecast year as these gloves are convenient to use, owing to their non-sticky nature and facilitates easy removal after use. In addition, powdered disposable gloves tweak the surface weakness property of natural rubber latex, making them easy to put on.
In 2019, Europe was the dominant revenue contributor, owing to increase in awareness about hygiene, growth threat of infection & contamination among the end users, and improvised safety regulations. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period, owing to presence of high populace in countries such as India and China, which have a prominent prevalence rate of chronic diseases, geriatric population, and unmet medical needs.
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Emerging countries are expected to provide lucrative opportunities for disposable gloves manufacturers, owing to rise in disposable income, increase in awareness regarding disposable gloves, and growth in healthcare expenditure. Spur in the medical tourism industry is a key driver of the disposable gloves market in emerging economies such as India, South Korea and other. In emerging economies, healthcare scenario has improved at a steady rate, owing to growth in awareness regarding healthcare and proactive government initiatives.
Key Findings Of The Study
· The study provides an in-depth analysis, current trends, and future estimations of the global disposable gloves market to elucidate the imminent investment pockets.
· Comprehensive analysis of factors that drive and restrict the disposable gloves market growth is provided.
· By type, the nitrile gloves segment is anticipated to grow at a CAGR of 14.2% from 2020 to 2027.
· Extensive analysis of key segments of the industry help to understand the types of products and application used across various geographies.
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