New Analysis from Global Industry Analysts Reveals Steady Growth for Medical Gloves, with the Market to Reach $29.8 Billion Worldwide by 2026

SAN FRANCISCO, March 24, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Medical Gloves - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 17; Released: March 2022
Executive Pool: 12218
Companies: 229 - Players covered include Ansell Healthcare Products, LLC; B. Braun Melsungen AG; Cardinal Health, Inc.; Cypress Medical Products, LLC; Halyard Health, Inc.; Hartalega Holdings Bhd; Kossan Rubber Industries BHD; Molnlycke Health Care AB; Paul Hartmann AG; Rubberex Corporation (M) Berhad; Semperit AG Holding; Shijiazhuang Hongray Group; Supermax Corporation Berhad; Top Glove Corporation Bhd; Vulkan Medical AS and Others.
Coverage: All major geographies and key segments
Segments: Segment (Examination Gloves, Surgical Gloves); End-Use (Hospitals & Clinics, Ambulatory Surgery Centers, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Medical Gloves Market to Reach US$29.8 Billion by the Year 2026
Medical gloves are indispensable products in the area of medicine, whose primary function is to protect healthcare personnel as well as patients from various infections. These gloves are used by physicians, surgeons and other assisting professionals in various healthcare settings. Although a commodity, the criticality of medical gloves continues to rise in wake of growing spread of infectious diseases, increasing incidence of hospital-acquired infections, and growing awareness on safety. In an era where infectious diseases such as the ongoing COVID-19 pandemic, AIDS, SARS, Dengue, Ebola and Zika elude medical defenses and treatment, the need for superior quality and highly functional protective gloves is more pronounced than ever in endeavors to prevent spread of diseases in hospitals. The need and demand for disposable types of medical gloves surged in the wake of growing nosocomial or hospital acquired infections over the years. The technology behind medical gloves has grown considerably over the years. Persistent increase in incidence of infectious and chronic diseases, rising concerns over personal safety and sanitation and strict regulations in place pertinent to the use of personal protective equipment are fueling demand for medical gloves. Also driving growth is the development of healthcare infrastructure in developing nations and the increase in number of hospitals and other care facilities.

Amid the COVID-19 crisis, the global market for Medical Gloves estimated at US$21.8 Billion in the year 2022, is projected to reach a revised size of US$29.8 Billion by 2026, growing at a CAGR of 13.2% over the analysis period. Examination Gloves, one of the segments analyzed in the report, is projected to grow at a 14% CAGR to reach US$26.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Surgical Gloves segment is readjusted to a revised 9.7% CAGR for the next 7-year period. This segment currently accounts for a 20.7% share of the global Medical Gloves market. Examination gloves are widely used due to their extensive use by medical practitioners during patient examinations. As the number of infectious diseases continue to increase around the world, the demand for examination gloves is on the rise. In the coming years, the growing need for early detection and diagnosis of diseases and the steady rise in routine diagnostic tests will spur demand for examination gloves. Surgical gloves, used while performing surgical procedures, are witnessing growing demand led by the rise in surgeries in both developed and developing regions. Growing prevalence of chronic diseases and other medical conditions that contribute to the need for surgical interventions is giving impetus to the market.

The U.S. Market is Estimated at $6.9 Billion in 2022, While China is Forecast to Reach $6 Billion by 2026
The Medical Gloves market in the U.S. is estimated at US$6.9 Billion in the year 2022. The country currently accounts for a 31.7% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$6 Billion in the year 2026 trailing a CAGR of 15.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.3% and 12% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.1% CAGR while Rest of European market (as defined in the study) will reach US$676.4 Million by the end of the analysis period. The United States dominates the global market for medical gloves on account of high level of awareness about hygiene and the role of these gloves in preventing spread of infectious diseases. The US is poised to retain its leading position in the coming years due to its advanced healthcare setup, strong focus on minimizing the risk of healthcare associated infections and increasing demand for quality polyisoprene medical gloves in surgeries. The market is also propelled by high cost of medical gloves and the presence of numerous suppliers across the region. In addition, the presence of an extensive base of patient population and high R&D investment are anticipated to drive regional adoption of disposable medical gloves.

Europe is projected to remain the second leading market in the global medical gloves market due to increasing healthcare spending and extensive adoption of disposable medical gloves while performing surgical procedures. Increasing medical tourism, efficient supply chain, and enforcement of stringent regulations to control cross-contamination are anticipated to help the regional market in exhibiting incremental gains. While developed regions remain major revenue contributors, developing regions, especially China and Asia-Pacific, have evolved into fastest growing regional markets. Growing healthcare spending and a significant base of patient population are likely to present lucrative opportunities in China. While similar trends prevail in Asia-Pacific, the regional market is also anticipated to gain from growing prevalence of chronic and infectious diseases. Rising cases of chronic diseases like diabetic foot ulcer and cancer along with infective conditions including STDs and HIV across emerging countries are expected to provide a notable impetus to the market. Asia-Pacific is also the leading provider of rubber gloves and plays an important role in addressing global demand. The region's dominance is attributed to the presence of advanced rubber manufacturing units in Malaysia, Thailand and Indonesia. The regional market for medical gloves is likely to be also propelled by increasing medical tourism, adoption of sophisticated products and rising healthcare awareness across rural areas.
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Zak Ali
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Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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