The synthetic medical glove market is projected to witness a compound annual growth rate of 15.09% to grow to US$13,279.653 million by 2027, from US$4,963.838 million in 2020.
The high concerns regarding latex allergy caused by latex gloves among healthcare workers are a major driver of the global synthetic medical gloves market.
There has been a continuous rise in the number of cases reported across the healthcare sector about allergies caused due to the high usage of latex gloves. As a result, many hospitals worldwide have started switching to synthetic medical gloves, both for surgical procedures and examination purposes, thereby driving the synthetic medical glove market growth. The rising number of surgical procedures globally on account of the growing geriatric population and the increasing number of patients suffering from cardiovascular diseases (CVDs) is another factor boosting the market growth. The recent COVID-19 global pandemic outbreak has dramatically led the demand for synthetic medical gloves to new heights. With the continuous surge in the number of COVID-positive patients each day, the demand for synthetic examination gloves has risen substantially, increasing the demand-supply gap and causing a shortage in the market. As such, many governments, as well as global organizations, have issued emergency guidelines to use even surgical gloves to prevent the transmission of the coronavirus among healthcare workers while examining their patients.
Geographically, North America accounted for a significant market share in 2019 as a result of the ban on powdered latex gloves by the U.S. FDA (Food and Drug Administration). APAC is projected to grow at a noteworthy CAGR during the forecast period owing to the rising concerns about latex allergy in countries such as Australia, the Philippines, and India.
Medical gloves based on synthetic materials, more specifically, nitrile rubber, have been gaining traction in the overall medical glove industry globally. In fact, most of the gloves exported by Malaysia – the largest glove producer globally, are made of synthetic material. Anticipating a similar trend, the market growth was initially projected to be around 10.5% in 2020. However, the COVID-19 pandemic has drastically changed the economic landscape, with several healthcare facilities being converted into COVID-19 facilities because of the rising number of COVID-19 patients. Thus, the projection for the synthetic medical gloves market in the COVID-19 scenario is significantly revised upwards – primarily on account of a surge in demand and a simultaneous rise in the demand-supply gap, causing the ASP to rise.
GROWING CONCERNS REGARDING LATEX ALLERGY AMONG HEALTHCARE WORKERS
The rising incidence of latex allergy among healthcare workers is the primary driver of the synthetic medical glove market. People across the globe are increasingly developing allergic reactions to certain proteins present in natural rubber latex that is used to make medical and industrial gloves. Despite the proven effectiveness of latex gloves in preventing the transmission of several infectious diseases among healthcare workers, exposure to latex may result in allergic reactions. Latex gloves can lead to several allergic skin problems following direct contact with allergic latex proteins in latex glove products. Symptoms may include redness, itching, and even swelling of the skin that touched the item containing latex. People who are allergic to latex are also susceptible to eczema and blisters on the back of their hands after using latex gloves. Although the prevalence of latex allergy among the general population base is low, healthcare workers, who work in operating rooms, laboratories, or hemodialysis centers, are at a high risk of developing latex allergy due to increased and regular exposure to latex. There has been a rise in the reported cases of such reactions across the healthcare sector in the past few years. According to the American Latex Allergy Association, 8-17% of healthcare workers in the U.S. are sensitized to natural rubber latex. As a result, many hospitals around the globe have started switching to non-latex (synthetic) medical gloves. These gloves are not only non-allergenic and much stronger but also provide puncture resistance, unlike latex gloves.
NITRILE GLOVES OFFER THE HIGHEST REVENUE GENERATION OPPORTUNITY
The synthetic medical gloves market has been segmented by material as nitrile, polyisoprene, chloroprene, and vinyl. Nitrile accounted for the major market share by value and volume in 2019 and will remain at its position until the forecast period by growing at the highest CAGR. Nitrile gloves are the most popular type of synthetic medical gloves globally, and this popularity is majorly attributed to their being of similar quality as latex gloves. Nitrile gloves offer a similar feel to latex gloves, with one exception that makes them free of any allergens. Vinyl gloves are popular in regions like the Asia Pacific but are not very popular in Europe and North America. Stringent regulations in these regions regarding environmental pollution have been affecting their manufacturing. The ongoing trade war between the United States and China has impacted the vinyl medical gloves market in the U.S. Other types of synthetic medical gloves are expected to continue showing decent growth over the projected period.
NORTH AMERICA DOMINATES THE SYNTHETIC MEDICAL GLOVE MARKET
Geographically, the synthetic medical gloves market has been segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. North America accounted for the largest market share in the base year of the study, and this region can be seen holding on to its dominance throughout the forecast period. The Asia Pacific is the second biggest market for synthetic medical gloves, followed by Europe, where growing concerns regarding allergic reactions among healthcare workers due to the use of latex medical gloves have been pushing them away from synthetic medical gloves. Although this region has stringent regulations regarding environmental pollution, which have been contributing to low growth and a small market share of vinyl gloves, other types of synthetic medical gloves are witnessing good market growth. The Middle East and Africa synthetic medical gloves market is expected to grow at the highest CAGR over the forecast period.
Key Developments in the Market:
|Market size value in 2020||US$4,963.838 million|
|Market size value in 2027||US$13,279.653 million|
|Growth Rate||CAGR of 15.09% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments covered||Typ, Material, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Ansell Group of Companies, Cardinal Health, Medline Industries, Inc., Top Glove Corporation Bhd, Sempermed, Supermax Healthcare, Inc., Kossan Rubber Industries Bhd, Mölnlycke Health Care AB, YTY Group, Comfort Rubber Gloves Industries Sdn, Primus Gloves Pvt Ltd., Curas Ltd.|
|Customization scope||Free report customization with purchase.|
Frequently Asked Questions (FAQs)
Q1. What will be the synthetic medical glove market size by 2027?
A1. The global synthetic medical glove market is expected to reach a market size of US$13,279.653 million by 2027.
Q2. What is the size of the global synthetic medical glove market?
A2. The synthetic Medical Glove market was valued at US$4,963.838 million in 2020.
Q3. What are the growth prospects for the synthetic medical glove market?
A3. The synthetic medical glove market is expected to grow at a CAGR of 15.09% over the forecast period.
Q4. What factors are anticipated to drive the synthetic medical glove market growth?
A4. Growing concerns regarding latex allergy among healthcare workers are driving the growth of the synthetic medical glove market during the forecast period.
Q5. Which region holds the largest market share in the synthetic medical glove market?
A5. North America accounted for the largest share of the synthetic medical glove market.
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. SYNTHETIC MEDICAL GLOVE MARKET ANALYSIS, BY TYPE
6. SYNTHETIC MEDICAL GLOVE MARKET ANALYSIS, BY MATERIAL
7. SYNTHETIC MEDICAL GLOVE MARKET ANALYSIS, BY GEOGRAPHY
7.2. North America
7.2.1. North America Synthetic Medical Glove Market, by Type
7.2.2. North America Synthetic Medical Glove Market, by Material
7.2.3. By Country
184.108.40.206. United States
7.3. South America
7.3.1. South America Synthetic Medical Glove Market, by Type
7.3.2. South America Synthetic Medical Glove Market, by Material
7.3.3. By Country
7.4.1. Europe Synthetic Medical Glove Market, by Type
7.4.2. Europe Synthetic Medical Glove Market, by Material
7.4.3. By Country
220.127.116.11. United Kingdom
7.5. Middle East and Africa
7.5.1. Middle East and Africa Synthetic Medical Glove Market, by Type
7.5.2. Middle East and Africa Synthetic Medical Glove Market, by Material
7.5.3. By Country
18.104.22.168. Saudi Arabia
7.6. Asia Pacific
7.6.1. Asia Pacific Synthetic Medical Glove Market, by Type
7.6.2. Asia Pacific Synthetic Medical Glove Market, by Material
7.6.3. By Country
22.214.171.124. South Korea
8. Competitive Environment And Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Companies Profiles
9.1. Ansell Group of Companies
9.2. Cardinal Health
9.3. Medline Industries, Inc.
9.4. Top Glove Corporation Bhd
9.6. Supermax Healthcare, Inc.
9.7. Kossan Rubber Industries Bhd
9.8. Mölnlycke Health Care AB
9.9. YTY Group
9.10. Comfort Rubber Gloves Industries Sdn
9.11. Primus Gloves Pvt Ltd.
9.12. Curas Ltd.
Ansell Group of Companies
Medline Industries, Inc.
Top Glove Corporation Bhd
Supermax Healthcare, Inc.
Kossan Rubber Industries Bhd
Mölnlycke Health Care AB
Comfort Rubber Gloves Industries Sdn
Primus Gloves Pvt Ltd.
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