|04-15-2019 07:21 PM CET - Health & Medicine||
Disposable medical gloves Market Poised for Dramatic Market Expansion in Medical Devices & Supplies Industry | 2017-2023
Press release from: Allied Market Research
The global disposable medical gloves market was valued at $3,819 million in 2016, and is projected to reach $5,994 million by 2023, growing at a CAGR of 6.9% from 2017 to 2023. In 2016, the surgical application segment accounted for about three-sevenths share of the global market.
Disposable medical gloves market growth is attributed to rising concern for safety and hygiene, coupled with advanced manufacturing technologies. Market players have successfully developed gloves with different properties such as higher resistance against chemicals, greater anti-tear properties and gloves with limited thickness thereby not affecting the donning and doffing process, which is anticipated to create huge opportunities for the growth of disposable medical gloves industry.
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Disposable medical gloves form an essential part of maintaining hygienic conditions, ensuring security of patients and caregiver, and safeguarding against infections. These are used while performing diagnostic tests and surgeries to ensure safety of the personnel. The usage of gloves minimizes the possibility of infection due to blood flow, pathogens, and other external factors. The adoption of disposable medical gloves has been a prerequisite for medical applications globally. The advent of newer manufacturing technologies, increased awareness regarding the benefits of disposable medical gloves, and improved healthcare practices are expected to catalyze the market growth.
The market for disposable medical gloves is primarily driven by their requirement in diagnosis and surgical applications to ensure safety and hygiene. In addition, the growing number of end users, such as healthcare and pharma industries, is expected to create huge demand supplementing the market growth. However, toxic reaction from certain gloves as well as competition pricing offered by local manufacturers could hamper the market growth. However, the impact of this limitation is anticipated to diminish in future due to ongoing improvements in production of disposable medical gloves for medical use. Moreover, advancements in technology related to the development of novel disposable medical gloves are expected to create lucrative opportunities for the market players in near future.
In terms of revenue generation, powdered disposable medical gloves accounted for major share of the global disposable medical gloves market in 2016, and is projected to maintain this trend throughout the forecast period growing at a CAGR of 4.3%. This is attributed to the growing use of these gloves for examination purposes.
Natural rubber gloves are eco-friendly compositions, low cost of raw materials, and has a convenient production process. Thus, natural rubber gloves are the most popular and conventional glove solution and it is projected to grow at a CAGR of 6.5% during the forecast period.
In 2016, examination gloves accounted for the highest revenue share and is expected to grow at a CAGR of 6.6% during the forecast period. Moreover, in terms of volume, examination gloves is expected to grow at a CAGR of 3.3% during the forecast period. The use of disposable medical gloves for diagnosis and check-up purposes with the growing incidence of chronic and infectious diseases is expected to drive the market for examination market.
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North America dominates the disposable medical gloves market. The market growth in North American region is primarily a reflection of new product innovations resulting from technological advancements. Introduction of advanced products such as puncture-resistant gloves, temperature-resistant gloves, and others has also fueled the growth of this market. Europe and Asia-Pacific together accounted for around half of the market in 2016. The companies mostly adopted product launch, acquisition, and expansion as their key strategies to keep pace with the changing demands of consumers and strengthen their market position. The key players operating in the global disposable medical gloves market are Top Glove Corporation Berhad, Supermax Corporation Berhad, Semperit AG Holding, Rubberex Corp. M Bhd, Kossan Rubber Industries Bhd., Hartalega Holdings Berhad, Dynarex Corporation, Cardinal Health, Inc., B. Braun Melsungen AG and Ansell Limited. Other players operating in the value chain are Unigloves (UK) Limited, Smart Glove Corporation Sdn Bhd, Cypress Medical Products LLC, Microflex Corporation, Mlnlycke Health Care and YTY Industry Holdings Berhad.
Table Of Content
Chapter: 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models
Chapter: 2: EXECUTIVE SUMMARY
2.1. CXO perspective
Chapter: 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Porter’s five forces analysis
3.4. Market share analysis
3.5. Market dynamics
126.96.36.199. Rising concerns for safety and hygiene
188.8.131.52. Increase in frequent outbreak of epidemics and pandemics
184.108.40.206. Advancements in technology
220.127.116.11. High price competition
18.104.22.168. Toxic reaction to certain gloves
22.214.171.124. Developing economies and untapped markets
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