Medical Gloves Market to Witness Robust Growth in Coming Years: P&S Intelligence

Medical Gloves Market to Witness Robust Growth in Coming Years: P&S Intelligence

PR Newswire

NEW YORK, Aug. 24, 2020

NEW YORK, Aug. 24, 2020 /PRNewswire/ -- According to the market research firm P&S Intelligence, global medical gloves market valuation to cross $20,435.6 million by 2030, growing at a CAGR of 10.8% during 2020–2030.

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The key driver for the medical gloves market is the increasing prevalence of infectious and highly contagious diseases, including Zika, Ebola, severe acute respiratory syndrome (SARS), Middle East respiratory syndrome (MERS), and COVID-19. For instance, beginning in December 2019, the COVID-19 pathogen has already infected over 8 million people and claimed more than 780,000 human lives till August 2020.

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This has given the medical gloves market a boost, as several organizations, including the World Health Organization (WHO) and Centers for Disease Control and Prevention (CDC), have mandated the use of gloves in medical settings. Moreover, several infectious diseases, such as Creutzfeldt–Jakob disease, Ebola hemorrhagic fever, and whooping cough (pertussis), have no vaccine or cure, which is why the usage of gloves is being strongly stressed upon when coming in contact with the mucosa, blood, or injured skin of infected people, so that disease transmission can be limited.

Browse report with detailed TOC on Medical Gloves Market Research Report: By Raw Material (Latex, Nitrile, Vinyl, Neoprene), Application (Examination, Surgical), Sterility (Non-Sterile, Sterile), Type (Non-Powdered, Powdered), Distribution Channel (Indirect, Direct), End User (Hospitals, Clinics, and Diagnostic Centers, Ambulatory Surgery Centers) - Global Industry Analysis and Growth Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/medical-gloves-market-report

In the immediate future, the larger revenue contribution to the medical gloves market will be made by direct distribution channels. This is because healthcare facilities usually require supplies in bulk, which is why they prefer ordering them from the manufacturer itself. This way, even the manufacturers remain profitable, as they do not have to share their earnings with third-party distributors.

Hospitals, clinics, and diagnostic centers have been the most productive end users in the medical gloves market till now, due to the rising prevalence of chronic and acute diseases, number of hospital visits, and volume of surgical and examination procedures at such medical settings.

Presently, North America is the largest medical gloves market, because of its expanding healthcare sector, rising awareness about the significance of using medical gloves in healthcare settings, and increasing prevalence of chronic diseases in the region. For instance, the U.S. currently accounts for large number of COVID-19 case count and mortality rate. In the next decade, Asia-Pacific (APAC) is projected to experience the most rapid industry advance, owing to the growing geriatric population and COVID-19 cases, rising demand for gloves in regional diagnostic centers, clinics, and hospitals, and increasing surgery and medical examination volume.

Players in the medical gloves market are rapidly expanding their operations, to make the most of the rising demand for such products.

For instance, in March 2020, Top Glove Corporation Bhd publicized plans to increase its annual medical glove production to 345 billion pieces, keeping in mind the rampage being caused by COVID-19. The company said that the demand for these medical supplies from the 158 COVID-19-infected countries is set to rise by 7.8% on a year-on-year basis.

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In the same way, five new administrative buildings and medical product manufacturing plants were opened by B. Braun Melsungen AG in Malaysia in April 2018. The company took this measure to strengthen its position in the country's pharmaceutical solutions, infusion therapy, and surgical instrument industries.

The major companies in the global medical gloves market are SUPERMAX Corporation Berhad, Top Glove Corporation Bhd, Hartalega Holdings Berhad, Halyard Health Inc., Cardinal Health Inc., Kossan Rubber Industries Bhd, B. Braun Melsungen AG, Paul Hartmann AG, Kimberly-Clark Corporation, Medline Industries Inc., Mölnlycke Health Care AB, McKesson Corporation, Ansell Ltd., Semperit AG Holding, Sun Healthcare (M) Sdn Bhd, Cypress Medical Products LLC, Riverstone Holdings Limited, Robinson Healthcare Ltd., Dynarex Corporation, and SHIELD Scientific B.V.

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