The latex medical gloves market is anticipated to witness a CAGR of nearly 5.1% during the forecast period on account of increasing hygiene practices in the healthcare sector.
- The rise in the cases of infectious diseases, along with the growing number of surgeries, is the main factor driving the growth of this market. In addition, risks associated with the transmission of germs and blood-borne pathogens are expected to augment the demand for latex medical gloves in the medical and healthcare facilities.
- The market has witnessed a significant rise in demand from the healthcare sector, owing to seasonal factors, such as the prevalence of viral outbreaks and infectious diseases. Growing awareness regarding health and safety measures associated with patient treatment and emergency response incident has played a key role in driving the demand for latex medical gloves in the healthcare industry. Latex medical gloves help in protecting patients and physicians from cross-contamination during medical examinations.
- However, risks associated with latex gloves is the major challenge faced by the manufacturers. Some polymers are found to be one of the leading causes of irritation for some physicians may hamper business growth in the future.
Key Market Trends
Surgical Gloves Segment Dominates the Market and is Expected to Continue the Same during the Forecast Period
- The surgical gloves segment is expected to dominate the latex medical gloves market through the forecast period. An increasing number of surgical procedures where latex gloves have been used is a high impact rendering driver. As per the American Society of Plastic Surgeons, more than 17.7 million surgical and minimally-invasive cosmetic procedures performed in the United States, in 2018, thereby, bode a well for segmental growth.
- The surgical application segment includes dental, veterinary, EMS, and cosmetic use. This segment has witnessed a significant shift in focus toward increased consumer health awareness, environmental sustainability, and improved protection of physicians, which is likely to drive demand.
The North America Dominates the Market and is Expected to Continue the Same during the Forecast Period
North America is the largest market for latex medical gloves, owing to the developed healthcare industry, increasing consumer awareness, government initiatives, and new product development. The market demand was followed by Europe. Implementation of hygiene measures on account of the stringent regulatory framework is expected to boost the overall market demand in Europe.
Asia-Pacific is expected to show steady growth throughout the forecast period. This growth can be attributed to developing healthcare facilities, which, in turn, is supposed to result in higher market demand over the forecast period. Upgrading public healthcare systems, as well as investments in new facilities, are expected to drive product demand in these countries.
The market for latex medical gloves is highly competitive and consists of global as well as local players. The competitive environment is marked by key players extensively deploying sustainability strategies. Ansel Ltd, Cardinal Health, McKesson Medical-Surgical Inc., and Valutek Inc. are some of the most notable companies. These companies are involved in new product development initiatives, mergers and acquisitions, and geographical expansion. Ansell, one of the major players in glove manufacturing, was earlier named as Dunlop. In December 2019, Ansell partnered with ProGlove at A+A Congress to enable the creation of innovative protection solutions, offering real-time data collection capabilities for precise and immediate information enabling compliance to safety recommendations.
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