GCC Medical Gloves Market Anticipated to be Valued at US$ 240.8 Mn by 2026
Increasing awareness regarding hygiene and health and safety is boosting market growth
Growing prevalence of pandemic diseases such as Swine flu (H1N1 pandemic), HIV, and other communicable and non-communicable diseases; and an increase in the number of elective treatments such as plastic surgeries, facial rejuvenation etc. have created an increasing awareness regarding hygiene and disease prevention among both patients and healthcare providers. This is boosting the demand for medical gloves and subsequently impacting market growth in a positive way. Favourable government policies for the growth of the healthcare sector to meet international standards through the development of word-class healthcare infrastructure, services, and expertise is also contributing to the growth of the GCC medical gloves market.
However, an import oriented market, price-based competition, and increasing outbound medical tourism in the GCC region is expected to restrain the growth of the GCC medical gloves market over the forecast period.
The market is also witnessing trends such as a shift in demand from natural rubber gloves to synthetic rubber gloves and a focussed investment in capacity expansion by leading market players.
The GCC medical gloves market has been segmented on the basis of Product Type (Examination Gloves, Surgical Gloves, Chemotherapy Gloves); Form (Powdered Form Gloves, Powder-Free Form Gloves); End Use (Hospital Use, Clinic Use, Ambulatory Surgery Centre Use, Diagnostic Imaging Centre Use, Rehabilitation Centre Use); Type of Raw Material (Latex Material Gloves, Nitrile Rubber Material Gloves, Vinyl Rubber Material Gloves, Polyisoprene Material Gloves); Type of Use (Disposable Medical Gloves, Re-usable Medical Gloves); and Distribution Channel (Direct Selling Channel, Medical Store Channel, E-Commerce Channel, Other (Retail Store or Hypermarket) Channel). The GCC medical gloves market has also been segmented into the top six countries of Saudi Arabia, United Arab Emirates, Qatar, Bahrain, Oman, and Kuwait.
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Examination gloves product type segment anticipated to account for the largest market share by 2016 end
The examination gloves segment is expected to account for the largest market share of 56.8% by 2016 end and is expected to register a value CAGR of 8.9% during the forecast period. The surgical gloves segment is estimated to account for a lesser market share as compared to the examination gloves segment during the forecast period. The chemotherapy gloves segment is anticipated to project increased Y-o-Y growth from 2015 to 2020.
Latex gloves raw material segment expected to be a major market segment; however, there is an increasing shift in user preference towards nitrile gloves
Consumption of latex rubber material gloves is projected to stand at 1,217 Mn units by the end of 2016. The nitrile rubber material gloves segment is anticipated to register the highest CAGR of 10.2% throughout the forecast period.
The Kingdom of Saudi Arabia is expected to dominate the GCC medical gloves market
In terms of value, the Saudi Arabia market accounts for the maximum revenue share of the overall GCC medical gloves market. This market is expected to witness the highest CAGR of 9.4% during the forecast period and is expected to continue to dominate the market in terms of value. The UAE medical gloves market is anticipated to witness significant growth over the forecast period, owing to an increasing number of plastic surgeries and other elective surgeries. The UAE market is projected to register a value CAGR of 9.0% between 2016 and 2026.
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Leading market players are looking to beat competition through industry collaborations, mergers and acquisitions, and capacity expansion
Some of the major players in the GCC medical gloves market are Paul Hartmann AG, Hotpack Packaging Industries, LLC, Falcon (Falcon Pack), Deeko Bahrain, Salalah Medical Supplies Mfg. Co. LLC, United Medical Industries Co. Ltd., and NAFA (NAFA Enterprises, Ltd.). Top market companies are entering into strategic mergers and acquisitions and are investing in R&D initiatives to build a solid product portfolio and cement their footprint in the GCC medical gloves market.
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