The global medical glove market revenue is expected to reach USD 12,601.2 million by 2030, exhibiting a CAGR of 7.4% during 2024–2030. This can be ascribed to the increasing cases of contagious diseases, the growing volume of surgeries, the rising burden of chronic diseases, and the increasing geriatric population.
- Moreover, other factors such as improving healthcare facilities and rising safety and hygiene concerns during medical procedures and examinations are further bolstering the industry.
- In recent times, infection control measures have become a top priority in healthcare settings, leading to a rise in the demand for medical gloves.
- Moreover, the COVID-19 pandemic had a significant effect on the global market for medical gloves. This global health crisis helped in creating a growing awareness among people about safety, leading to a sharp rise in the unprecedented demand for personal protective equipment, including gloves.
- The demand is predicted to witness the same trend in the coming years, owing to the emergence of new and more contagious variations.
- Additionally, the rising government expenditure that supports the development of healthcare infrastructure and the increasing focus on safety precautions and standards boost the market growth.
Nitrile Glove Category To Witness Fastest Growth
Based on raw material, the market is categorized into nitrile, vinyl, latex, and neoprene. Disposable medical gloves are generally manufactured with basic raw materials, including natural rubber and latex, which are tactile and best suited for medical examinations and procedures.
Among these, the nitrile glove category is expected to register the highest growth rate over the forecast period. The abilities like strong puncture resistance, durability, and superior barrier protection serve as the driving factors for this category.
Moreover, these gloves are generally used during the treatment of blood-borne diseases, where nitrile serves as an important barrier between the contaminants and the respective health workers or patients. The high demand for nitrile gloves can also be attributed to the fact that they do not lead to a rise in rubber protein allergies; therefore, prove to be one of the best options in comparison to those causing latex allergies.
Geographically, North America dominates the global market, mainly catering to the increasing demand for medical gloves of the word. Furthermore, the Asia-Pacific (APAC) market is expected to register lucrative growth in the upcoming period, due to the continuously increasing geriatric population and high investments by governments of APAC countries to develop advanced safety standards in order to comply with high sanitation in hospitals, clinics, and diagnostic centers.
Mergers Acquisition and Product Launches Are Shaping Competitive Landscape
- Major players operating in the market have been focused on introducing new products, facility expansion, and collaborations to enhance their presence.
- For instance, in January 2023, the Medicom group made a statement that it planned to build a nitrile glove factory known as ManiKheir, through its subsidiary Kolmi Hopen, which has a specialty in the manufacturing of one-time-use medical devices.
- Furthermore, in November 2020, Vizient Inc. entered into a contract with SafeSource Direct for manufacturing chemo-related nitrile gloves, which increased the critical supply of pharmaceutical equipment.
Some of the most prominent players in the medical glove market include Top Glove Corporation Bhd., Supermax Corporation Berhad, Owens & Minor, Hartalega Holdings Berhad, Kossan Rubber Industries Bhd., Cardinal Health Inc., Paul Hartmann AG, B. Braun Melsungen AG, Medline Industries Inc., Kimberly-Clark Corporation, McKesson Corporation, Mölnlycke Health Care, Semprit AG Holding, Ansell Ltd., Cypress Medical Products LLC, Robinson Healthcare Ltd., Riverstone Holdings Limited, SHIELD Scientific B.V., and Dynarex Corporation.