Disposable Gloves Market Set to Witness Huge Traction Thanks to Increased Investment to Improve the Public Healthcare System
The disposable gloves market was valued at USD 13.76 billion in 2021 and is anticipated to experience an exponential growth rate to cross USD 37 billion by 2028, registering a CAGR of 6.3% over the forecast period (2022 to 2028).
Westford, USA, Jan. 10, 2023 (GLOBE NEWSWIRE) — The growing need for disposable gloves in medical and healthcare, pharmaceutical, automotive, chemical, and oil and gas industries has been the key driver of the business in recent years. Furthermore, the product’s use in the food-preparation sector is expected to supplement market development. Market participants are concentrating on growth tactics such as obtaining distribution agreements with the governments of their respective countries. As a result, the global disposable glove market is predicted to expand. Technological improvements and increasing efforts to reduce the hospital admissions will give market participants lucrative chances in the coming years.
As per SkyQuest’s projection, North America, one of the key regions, is expected to register promising growth in the coming years and grow with a significant CAGR of 37.6% CAGR during 2022-2028. The dominance of North America will be followed by Europe and Asia Pacific, owing to increasing initiatives to promote hygienic and safe practices.
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Rising Burden of Healthcare-Associated Infections Push the Sales of Disposable Gloves
Healthcare-associated infections (HAIs) are increasing and are most frequent in the healthcare sector. According to SkyQuest’s market research, more than 1.4 million people globally get infected in hospitals at any given moment. In addition, healthcare-acquired infections have climbed by 36% in the last 20 years as invasive procedures have expanded and antibiotic resistance has grown, requiring more healthcare resources each year. Every year, HAIs cause an estimated 1.7 million infections and 99,000 deaths in American hospitals. With such rising health issues, public healthcare organizations are making extra efforts to ensure cleanliness and safety with the ample use of disposable gloves.
The most recent report on the disposable gloves market examines industry trends over the previous several years. It includes some of the main trends and patterns likely to emerge as major influencing factors for the market. With the help of an informed market forecast, opportunities, challenges, trends, size and growth, and Porter analysis, the market report provides a clear picture of the industry.
Nitrile Gloves Segment to Register High Growth owing to Preference among People with Latex Allergies
Increasing awareness regarding the key benefits of nitrile gloves in healthcare settings and the continuous rise in latex allergies are likely to drive the market growth globally. SkyQuest’s market research shows that around 4% of the global population is allergic to latex. Because mucous membranes are repeatedly exposed to latex during surgeries and treatments, patients with spina bifida (myelomeningocele) are at the highest risk of latex allergy. The rapid spread of this allergy has increased demand for the product, notably in the healthcare field, to prevent further transmission. Manufacturers of nitrile gloves use innovative technology to produce, create, and supply products to various end-use sectors.
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The latest research report includes significant segments and sub-segments influencing the market dynamics in the short and long term. In addition, the report features an analysis of prevailing opportunities, drivers, and restraints of the disposable gloves market, a complete porter’s five forces analysis, and competitive insights. Finally, the research examines the current market size in revenue in main regions such as Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.
Increasing Number of Surgeries Conducted Globally to Positively Influence the Disposable Gloves Industry
As the number of surgeries conducted by surgeons increases, so will the use of gloves, likely to fuel growth in the global disposable gloves market throughout the forecast period. According to SkyQuest’s analysis, estimated 234 million major surgical procedures are performed worldwide each year. In addition, according to statistics, around 41,354 organ transplant procedures will be done in the United States in 2021. To conduct such a high number of surgeries, the surgeon requires proper safety equipment, such as disposable gloves, which eventually pushes the market forward.
The research report traces the development of the market over time and projects regional market growth. In addition, the report further covers in-depth assessment of the key segments of the market, helps in understanding the forms and types of gloves used across the globe. Such key insights are crucial for market participants to prepare their future roadmap regarding product portfolio enhancements and related strategies.
Key Advancements in Disposable Gloves Market
- MultiCorp International, Inc. has reached an arrangement with a global glove manufacturer to provide medical-grade gloves to the healthcare sector. The deal with a glove producer to acquire and distribute gloves at preferential pricing to healthcare firms in the United States and other countries looking for a cost-effective approach to reduce their disposable nitrile glove prices.
- Showa Group’s single-use nitrile gloves have received 510(k) medical approval from the U.S. Food and Drug Administration (FDA). As a result, the company is the only fully integrated manufacturer of nitrile, single-use personal protective equipment (PPE) gloves in the United States. According to the approval, SHOWA will now supply the market’s first biodegradable nitrile gloves licensed for medical use.
- American Nitrile opens a nitrile glove manufacturing facility in Columbus, Ohio. The business is constructing the most advanced U.S. manufacturing facility dedicated to making nitrile gloves for healthcare, government, and industrial usage to help fulfill the increasing demand for latex-free nitrile gloves for medical and non-medical applications.
The disposable gloves market research provides the most recent news and industry trends in terms of disposable glove product innovations, acquisitions, growth strategies, joint ventures and collaborations, product launches, and market expansions. In addition, with SWOT analysis, the market report analyses each leading market participant and their product offerings, production, value, capacity, and other essential criteria.
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Prominent Companies in Disposable Gloves Market
- Top Glove Corporation Bhd
- Supermax Corporation Berhad
- Semperit Ag Holding
- Rubberex Corporation (M) Berhad
- Kossan Rubber Industries Bhd
- Cardinal Health, Inc.
- Ansell Limited
- Hartalega Holdings Berhad
- Adventa Berhad (Sun Healthcare)
- Dynarex Corporation
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