The global disposable medical gloves market size is projected to reach USD 10.9 billion by 2026, registering a modest CAGR of 9.1%. According to the Global Burden of Disease Study 2017 conducted by the World Health Organization (WHO) and Institute of Health Metrics Evaluation (IHME), chronic (non-communicable) diseases caused 80% of the disabilities in 2017.
The WHO further predicts that chronic diseases will be responsible for 60% of the global burden of disease by 2020. Most of these diseases, such as COPD and diabetes, are a result of faulty lifestyle habits, namely, lack of exercise, unhealthy diets, and smoking. The global disposable medical gloves market stands to gain from these developments in the coming decade.
List of key companies mentioned in the disposable medical market report;
- Ansell Ltd
- KANAM LATEX INDUSTRIES PVT LTD
- Top Glove Corporation Bhd
- Cardinal Health
- Halyard Health
- Dynarex Corporation
- Mölnlycke Health Care AB
- Elite Surgical
- Kossan Rubber Industries Bhd
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Increasing Innovation to Propel Market Competition
The global disposable medical gloves market is set to experience intense competition as players increase their investment in innovation to gain an edge in the market. For example, Mun Global launched GloveOn Alexa, the company’s first-ever gauntlet cuff glove, in 2017. Moreover, some companies are merging with each other, such as the merger between Adenna and NuTrend in March 2019, to diversify their product offerings.
Fortune Business Insights shares interesting perspectives in its report, titled “Disposable Medical Gloves Market Size, Share & Industry Analysis, By Application (Surgical and Examination), By Material (Latex and Synthetic), By Category (Powdered and Powder free) End User (Hospitals & Clinics, Diagnostic/Pathology Labs, and Others), and Regional Forecast, 2019-2026”.
From its current standing at USD 5.4 billion, the global disposable medical gloves market value is projected to reach USD 10.9 billion during the forecast period, as per the report. Additionally, the report provides a detailed analysis of the factors and dynamics that will shape the market till 2026.
Disposable gloves are some of the most commonly used health safety products in the field of medicine. Their aim is to prevent contamination of equipment and other materials in a hospital which can give rise to opportunistic infections in patients. The most widely used varieties of disposable gloves include vinyl gloves, latex gloves, and nitrile gloves.
Major Segmentation Include:
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Growing Popularity of Medical Tourism to Boost the Market
Medical tourism refers to travelling undertaken by patients to other countries to seek medical help either because healthcare in their country is unaffordable or is extremely weak. Medical tourism is increasing around the world, especially from the developed nations such as the US to developing nations such as India. For example, a study published in the American Journal of Medicine estimates that in 2017, about 1.4 million Americans and 14 to 16 million people all over the world toured different countries for healthcare.
The top five most preferred destinations being Costa Rica, India, Malaysia, Mexico, and Singapore. According to a report by Visa and Oxford Economics, the value of the overall medical tourism industry is increasing annually by USD 439 billion. This will fuel the global disposable medical gloves market revenue till 2026.
Asia-Pacific to Showcase Splendid Growth; North America to Dominate
Having generated business worth USD 2 billion in 2018, North America is expected to hold a dominant portion in the global disposable medical gloves market share in the forecast period. The primary reasons for this being high awareness levels about safety of medical equipment, well-established distribution network, and growing demand for high quality disposable gloves. Similar factors are expected to drive the market in Europe as well and make the region the second largest stakeholder in the global disposable medical gloves market.
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Asia-Pacific is expected to exhibit the most impressive growth rate among regions owing to the rising incidence of chronic and infectious diseases in the region, along with increasing production of medical equipment in India, China, and Bangladesh. Africa and the Middle East are anticipated to grow at a decent pace on account of increased healthcare spending and investment, which can expand the global disposable medical gloves market size.
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