Medical Gloves Market Size By Product (Latex Gloves, Nitrile Gloves, Vinyl Gloves, Neoprene Gloves), By Form (Powder-free Gloves, Powdered Gloves), By Application (Examination Gloves, Surgical Gloves), By Usage (Disposable Gloves, Reusable Gloves), By Sterility (Sterile Gloves, Non-sterile Gloves), By Distribution Channel (Brick and Mortar, E-commerce), By End-use (Hospitals, Clinics, Ambulatory Surgical Centers, Diagnostic Centers), Industry Analysis Report, Regional Outlook, COVID19 Impact Analysis, Application Potential, Competitive Market Share & Forecast, 2022 - 2030
The medical gloves market is anticipated to expand enormously by 2030 owing to growing number of contagious diseases across the world. Additionally, rising safety and hygiene concerns, coupled with rapid growth in the presence of healthcare facilities, are also likely to stimulate market development over the forecast period.
The COVID-19 outbreak created a positive outlook for the market as product adoption increased exponentially in light of the growing number of infected people. Government authorities around the world emphasized the importance of stringent safety and hygiene protocols, which also boosted product penetration in varied countries.
Moreover, with rising climate consciousness, major industry players have been focusing on formulating strategic alliances, to reduce the carbon footprint across their operations, which has fostered industry outlook. For instance, in April 2022, Top Glove Corporation Berhad, a Malaysian rubber gloves company, inked a power purchase agreement (PPA) with Shizen Malaysia, the healthcare manufacturing division of Shizen Energy Inc. The partnership was purposed to augment electricity cost management for Top Glove and lower its carbon emissions.
The medical gloves market has been bifurcated in terms of sterility, form, usage, distribution channel, product, end-use, application, and region.
By product, the medical gloves industry has been divided into neoprene gloves, nitrile gloves, latex gloves, vinyl gloves, and others. The medical gloves market share from the nitrile gloves segment reached a valuation of approximately $9,846 million in 2021 and is anticipated to grow at a CAGR of more than 20.1% over 2022-2030. The segmental growth is attributed to rising prevalence of contagious diseases.
On the basis of form, the market has been split into powdered gloves and powder-free gloves. The powder-free gloves segment is expected to amass sizable gains, recording more than 18.9% CAGR through the review timeline as a result of growing product adoption as they are safe and do not cause allergies.
The medical gloves market has been segregated with regards to application into examination gloves and surgical gloves. The examination gloves segment held a considerable market share in 2021 and is estimated to reach around $22,788.6 million in revenue by 2030. Surging instances of COVID-19 infections during the pandemic and mounting occurrences of chronic diseases are slated to impel segmental growth.
In terms of usage, the industry has been segmented into reusable gloves and disposable gloves. The disposable gloves segment held a majority market share in 2021 and is poised to garner a valuation of above $26,479 million by the end of 2030 driven by the escalating number of surgeries being performed globally that are fueling product uptake.
From the sterility perspective, the medical gloves market has been separated into non-sterile gloves and sterile gloves. In 2021, the non-sterile gloves segment generated a revenue of nearly $12,140 million and is primed to accumulate substantial growth between 2022 and 2030 due to burgeoning safety and hygiene concerns around the world.
The medical gloves industry has been classified by distribution channel into e-commerce and brick & motor. The brick and motor segment captured a lion’s share in the market revenue in 2021 and is speculated to exceed approximately $19,993 million in revenue by 2030 on account of soaring consumer preference to buy from physical stores.
From the end-use standpoint, the medical gloves market has been segregated into diagnostic centers, clinics, hospitals, ambulatory surgical centers, and others. Hospitals held a majority share in the industry 2021 and are foreseen to observe significant growth at a CAGR of roughly 18.0% through the analysis period. The segmental progress is backed by the availability of high skilled surgeons & healthcare professionals that focus on delivering quality patient management in therapeutic, diagnostic, and surgical interventions.
In the regional landscape, the Asia Pacific medical gloves market is foreseen to grow at a CAGR surpassing 23.2% through the assessment period to showcase solid revenue growth in the coming years. Proliferating number of people suffering from infectious diseases and increasing healthcare awareness across APAC are expected to facilitate regional market growth.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook