CLEVELAND, April 27, 2020 /PRNewswire/ -- According to analysts at The Freedonia Group, as the COVID-19 pandemic spreads worldwide, demand for medical gloves is skyrocketing but supplies are short due to production slowdowns and restrictions on trade.
Beyond the current increase in the number of hospitalizations, other factors are also driving demand for gloves:
- a sharp increase in the number of gloves used per healthcare worker, especially outside of hospitals
- an increase in the use of medical gloves by non-medical personnel
- an increase in prices due to temporary production reductions and product hoarding
Growth, currently in the double digits, is expected to return to more sustainable levels, forecast to increase 5.7% per year through 2024. Demand will continue to be driven by developing markets, as these countries gradually improve their healthcare standards and hygiene practices. In developed markets, growth will be supported by aging populations but restrained by market maturity and trends toward telehealth.
Learn more about the short and long term trends for examination, surgical and laboratory gloves in the new Global Disposable Medical Gloves: COVID-19 Impact Analysis. The report also provides perspective with analysis of virus trends, patient activity and supply chain issues.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
SOURCE The Freedonia Group