The Neoprene (Polychloroprene) Surgical Glove Market is estimated at US$267.355 million for the year 2019 growing at a CAGR of 5.13% to reach the market size of US$360.866 million by 2025. The growth of the market is majorly attributed to the growing adoption of these gloves across the healthcare industry, as these are risk-free from allergic reactions and offer more resistance and strength in comparison to latex gloves. Neoprene is one of the types of synthetic material which is produced by polymerization of chloroprene. The strength and resistance offered by these gloves is comparatively high as compared with latex gloves is also one of the key drivers to augment the adoption of these gloves for surgical procedures. Also, these gloves are capable of maintaining flexibility at high-temperature ranges and also exhibit elevated chemical stability. The use of these gloves across the healthcare industry is also considered safer as they offer extra protection to the healthcare professionals and the patients by reducing the risk of allergic reactions caused by chemical accelerators and latex. Thus, rising incidence of latex allergy across healthcare professionals is significantly driving the demand for neoprene surgical gloves.
Furthermore, these gloves also offer a longer chemical breakthrough further making them suitable for their application in surgeries where bone cement and cytotoxic agents are used. Bone cement is widely used in orthopedic and trauma surgeries for implant fixation purposes. Cytotoxic agents are used for the treatment of cancer, these are used in cancer to destroy the cancer cells. Thus, the growing prevalence of cancer disease and an increasing number of cancer, trauma and orthopedic surgeries among others are projected to significantly drive the demand for neoprene (polychloroprene) surgical gloves during the coming years and add up to the growth of the market. According to the data provided by the U.S Department of Health and Human Services, in the United States, the new number of cancer cases is expected to increase to 1.9 million people per year by 2020 from 1.5 million people per year in 2010, thereby expected to significantly drive the demand for these gloves in the coming years. In addition, the growing investments by major market players in the R&D, increase of production capacity coupled with new product launches are some of the additional factors showing the market potential of growth to the manufacturers during the forecast period.
The rising incidence of latex allergies across the globe is fuelling the demand for neoprene surgical gloves
Rising incidence of latex allergy among healthcare workers is the major driver of synthetic surgical gloves, thereby supplementing the growth for the neoprene surgical gloves market also. People across the globe are increasingly developing allergic reactions to certain proteins present in natural rubber latex that is used to make both medical and industrial gloves. The growing healthcare sector is projected to be the largest source of job creation in the coming years. The increasing global population is leading to mushrooming demand for healthcare services worldwide. Furthermore, the growing geriatric population in countries like the U.S., Japan, and China is also driving the demand for home healthcare solutions and services. Healthcare workers are, thus, at the highest risk of latex exposure. According to the American Latex Allergy Association, 8-17% of healthcare workers in the U.S. are sensitized to natural rubber latex. Thus, all these factors are collectively contributing to boost the demand for these gloves, especially in developed economies.
Hospitals are expected to rule the market
On the basis of end-user, the market has been classified into end-users has been segmented into Hospitals, Medical Centers and Ambulatory Surgeries Centers (ASCs). Hospitals are expected to hold a noteworthy share in the global market owing to the fact that the majority of the surgeries are performed in the hospitals as a general super specialty or multi-specialty hospitalsare equipped with highly advanced and latest instruments on account of higher funding capabilities. Ambulatory Surgical Centers are expected to grow substantially over the forecast period on account of the increasing ability of these centers on improving treatment quality along with the reduction of costs as more patients tend to visit them rather than going to hospitals owing to lower treatment costs.
North America to hold a noteworthy market share
By geography, the neoprene surgical glove market is segmented as North America, South America, Europe, Middle East and Africa, and the Asia Pacific. North America is estimated to hold the major market share on account of the rising geriatric population in countries like the U.S. and Canada along with the growing medical tourism industry in Mexico. The growing middle-class population in Mexico is leading to an increase in the prevalence of lifestyle-related chronic diseases in the country. According to the World Health Organization (WHO), the country accounts for the most hospitalizations related to diabetes among the Organization for Economic Co-operation and Development’s (OECD) 35 countries. These factors are leading to the escalating number of surgical procedures being performed in the country which, in turn, is boosting the demand for synthetic surgical gloves in Mexico. According to the OECD data, the total number of surgeries in Mexico increased from 657,730 in 2011 to 835,606 in 2018.
Furthermore, the growth of the market in Europe is majorly attributed to the growing number of surgical procedures in countries like Germany and Spain. Furthermore, rising healthcare expenditure and increasing government support for healthcare services is also contributing to the market growth in the European region. The market growth in the Asia Pacific is majorly attributed to the rising incidence and prevalence of severe heart diseases and other complex conditions in China and India. In the APAC region, Japan is projected to hold a notable in this market and the demand for these gloves in this country is being driven by continuously increasing geriatric population. The increasing popularity of cosmetic surgeries in South Korea is expected also to continue aiding the market growth over the projected period.
Major industry players profiled as part of the report are Mölnlycke Health Care AB (A subsidiary of Investor AB), Cardinal Health, Ansell Limited, Medline Industries, Inc., and B. Braun Melsungen AG, among others.