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Insights into the Medical Gloves Market to Exceed US$ 27 Billion by 2034

04-19-2024 11:48 PM CET | Health & Medicine

Press release from: Fact.MR

Insights into the Medical Gloves Market to Exceed US$ 27 Billion

The global medical gloves market (医療用手袋市場) is projected to reach a valuation of over US$ 27,141.5 million by 2034, growing from an estimated worth of US$ 11,299 million in 2024, with a forecasted compound annual growth rate (CAGR) of 9.2% until 2034.

The increasing emphasis on hygiene and infection control, particularly in healthcare environments, is driving demand for medical gloves. This demand is further fueled by stringent regulations governing healthcare standards. Additionally, the introduction of technologically advanced gloves that offer improved comfort and dexterity aligns with evolving consumer preferences. With the healthcare sector expanding globally and incidences of infectious diseases on the rise, the foundation for sustained growth in the industry is strong.

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However, rising raw material costs, particularly for latex and nitrile, are squeezing manufacturers' profit margins. Compliance with strict regulatory requirements, particularly in developed regions, is also driving up production costs. Moreover, the environmental impact of disposable gloves is a growing concern due to disposal issues. Shortages in skilled labor for intricate manufacturing processes pose efficiency challenges, particularly in high-demand regions.

Key Companies Profiled in This Report

Top Glove Corporation Bhd
Hartalega Holdings Bhd
Kossan Rubber Industries Bhd
Supermax Corporation Bhd
Sri Trang Gloves Public Company Limited
Intco Medical Pte Ltd
Ansell Ltd
Comfort Choice Medical Inc.
Cardinal Health
McKesson Corporation

Despite these challenges, the medical gloves industry (의료용 장갑 시장) is ripe with opportunities. The expanding global healthcare sector, fueled by population growth and aging demographics, presents a significant market for medical gloves. There is potential for innovation in eco-friendly materials and sustainable production practices to align with the increasing emphasis on corporate social responsibility.

Trends such as integrating antimicrobial properties into gloves, increasing automation in manufacturing processes, and the popularity of powder-free gloves are emerging. Furthermore, there is a shift towards online distribution channels and eCommerce platforms, reflecting changing consumer procurement behaviors.

Key Takeaways from the Market Study

In 2024, the medical gloves industry in North America is estimated to be worth US$ 5,295 million, constituting a substantial 46.9% of the global market.
The United States is projected to hold a commanding 87.8% share in the global medical gloves market in 2024, with an industry worth approximately US$ 4,651 million.
East Asia's medical gloves sector is anticipated to reach US$ 812 million in 2024, securing a 7.2% share of the global market.
In 2024, Japan is expected to dominate the medical gloves industry in East Asia with a substantial market share of 58.2%, reflecting an estimated industry value of US$ 473 million.
The disposable examination gloves segment is poised to dominate the industry and is projected to secure an impressive 72.2% share in 2024.
The disposable examination gloves segment is estimated to be worth US$ 3,823 million in 2024, showcasing its significance in the medical gloves market.
The medical sector is predicted to claim a significant share of 85.9% in the global medical gloves industry in 2024, representing a market value of approximately US$ 4,548 million.
The medical sector's anticipated share translates to a significant industry worth of US$ 4,548 million in 2024, underlining its prominence as a key end-user segment.

Competitive Landscape

The medical gloves industry boasts a competitive landscape with several key players vying for prominence. Renowned global manufacturers such as Ansell Limited, Top Glove Corporation Bhd, and Hartalega Holdings Berhad dominate the market, leveraging their extensive product portfolios and robust distribution networks. These giants set industry standards through continuous innovation and adherence to stringent quality controls.

Regional dynamics play a crucial role, with the industry witnessing the emergence of prominent local players in various markets. For instance, in Asia, Supermax Corporation Berhad and Kossan Rubber Industries Bhd have made significant strides, contributing to the diversity of the competitive landscape. Their localized expertise and strategic market positioning enhance competition, providing consumers with various options.

Competitive strategies in the medical gloves industry often revolve around research and development initiatives. Companies like Cardinal Health and Semperit AG Holding invest substantially in developing advanced glove technologies, such as antimicrobial properties and enhanced durability. These innovations cater to evolving healthcare needs and confer a competitive edge.

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Segmentation of Medical Gloves Market (Markt für medizinische Handschuhe) Research

By Product Type:

Reusable Gloves

Disposable Examination Gloves

Surgical Gloves

Disposable Industrial Gloves

By End User:

Medical Sector

Non Medical Sector

By Region:

North America

Europe

Latin America

East Asia

South Asia & Oceania

Middle East & Africa

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About Fact.MR :

We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.

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