Indonesia’s medical glove market is projected to witness a compounded annual growth rate of 10.81% to grow to US$50.503 million by 2026, from US$24.617 million in 2019. Medical gloves are single-use gloves that should ideally be discarded after only one use, especially when dealing with bacterial cultures or being worn during surgeries. These gloves are made from a variety of polymers, including latex, nitrile rubber, vinyl, and neoprene. The growing awareness of health and safety measures that must be implemented to prevent disease spread is one of the primary factors driving Indonesia’s medical glove market. Disposable gloves have long served the medical industry in terms of hygiene, safety, and cost-effectiveness. Indonesia’s healthcare and medical industries are rapidly expanding, which is fueling the growth of its medical glove market as well, considering it is a necessary product required during almost all medical procedures.
One of the major factors expected to propel the growth of Indonesia’s medical glove market is the increasing healthcare expenditure by its national government along with increasing awareness about the spread of infections through improper medical clothing. Health care is funded through a variety of mechanisms, including government spending and mandatory health insurance. According to the Finance Ministry, the Indonesian government's health budget for 2021 has more than doubled since the beginning of the year to Rp 193.93 trillion (US$1.34 billion), as the pandemic worsens and more Indonesians are affected. The budgeted funds, according to the official statement, are for diagnostics, testing, and tracing, health equipment, COVID-19 hospital treatment, and a financial incentive for healthcare workers. The budget allocation has been increased multiple times, from Rp 87.55 trillion to Rp 172 trillion and Rp185 trillion before reaching Rp193.93 trillion after the latest increase announced in July 2021. This increase in the country’s healthcare expenditure is expected to propel the demand for medical gloves in the country as well, propelling its market growth during the forecast period.
Taking advantage of this increasing demand for medical gloves in Indonesia, market players operating in the country are undertaking various strategic actions to further increase their foothold in the market. For instance, in December 2020, Safety First Healthcare, a Delaware company registered with the Securities & Exchange Commission, announced a joint venture with Wynn Empire Pte Ltd., a large producer of vinyl, latex, and nitrile gloves in Malaysia and Indonesia. The Joint Venture is a benefit to both parties due to Safety First Healthcare's glove finishing and packing factories in Vietnam and Malaysia paired with Wynn Empire's raw glove production capabilities in countries like Indonesia.
The market for medical gloves in Indonesia had been gaining at a decent pace before the outbreak of the novel coronavirus disease owing to the increasing health expenditure and improved healthcare facilities in the country over the years. Anticipating a similar trend, the market growth was initially projected to be close to the double-digit figures in 2020. However, the COVID-19 pandemic changed the market scenario completely. A large number of cases of COVID-19 in Indonesia led to high demand for medical gloves, as it was mandatory to be used by the doctors and other medical staff, along with PPE. Also, the rise in the safety and hygiene standards in order to have protection against COVID-19 during medical and treatment measures led to the high demand for medical gloves and hence boosted the growth of the Indonesian medical gloves market. Thus, the projection for the Indonesian medical glove market in the COVID-19 scenario is significantly revised upwards.
|Market size value in 2019||US$24.617 million|
|Market size value in 2026||US$50.503 million|
|Growth Rate||CAGR of 10.81% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Material, Type, End-User, And Region|
|Regions covered||Jakarta, West Java, East Java, Sumatra, Others|
|Companies covered||Medical Gloves Co, Ltd, P.T. Arista Latindo, VISECOMDATA Medical Supplier Lda, PT Medisafe Technologies, Multi Warna, Sempermed, Wynn Empire Pte Ltd, PT. Shamrock Manufacturing Corp, PT. Latexindo Tobaperkasa, Maja Agung Latexindo. Indonesia.|
|Customization scope||Free report customization with purchase|