The global synthetic medical glove market is expected to grow at a CAGR of 14.86% over the forecast period to reach a market size of US$9,231.071 million in 2025 from a market size of US$4,020.930 million in 2019.
Growing concerns regarding latex allergy among healthcare workers is driving the growth of the market during the forecast period.
Rising incidence of latex allergy among healthcare workers is the major driver of 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 both medical and industrial gloves. Despite the proven effectiveness of latex gloves in preventing transmission of several infectious diseases among healthcare workers, exposures 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 skin that touched the item containing latex. People who are allergic to latex are also susceptible to eczema and blisters on the back of the 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 haemodialysis centers, are at the 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, providing puncture resistance unlike latex gloves.
By type, surgical glove is estimated to provide steady growth opportunities
Synthetic surgical medical gloves are made of synthesized polymers like polyisoprene (PI), nitrile, neoprene, and are used in surgeries to prevent any kind of contamination to either the patient or the surgeon. Demand for synthetic surgical gloves is growing on account of rising cases of allergic reactions due to latex material due to which several market players are now introducing latex-free surgical gloves which are providing the necessary impetus to the synthetic surgical glove market growth. For instance, In the USA only, the HAI affected patients were around 1.7 million (source: World Health Organization). Also, today number of aging baby boomers requires surgeries and with the expanding healthcare services in various parts of the world, there will be a corresponding increase in demand for synthetic surgical gloves, Besides, occupational safety regulations for healthcare workers play a vital role in driving the growth of synthetic surgical gloves market as mandated or strict policies by regulatory agencies create wide opportunities for manufactures entering into synthetic surgical gloves business. For instance, the recent ban by the United States Food and Drug Administration on the use of powdered latex gloves has also had a major positive impact on the demand for nitrile gloves in not only the United States but also in multiple developed nations.
Germany is driving the growth of the European market
The market in Germany is anticipated to have substantial growth primarily on account of the wide adoption of synthetic gloves across the healthcare industry of the country due to the strict policies regarding the use of natural rubber latex gloves due to their allergic properties. The country also has a high prevalence of cardiovascular diseases which further leads to an increase in surgical procedures. This, in turn, is anticipated to supplement the demand for synthetic and medical examination gloves throughout the country, thus positively impacting the market growth throughout the forecast period. Furthermore, the Ischemic heart diseases and strokes hold the first and the third rank on the list of causes of most deaths in Germany (Source: Institute for Health Metrics and Evaluation (IHME)). Therefore, an increase in the number of heart-related surgeries is further providing an impetus for the market to witness good growth in Germany during the next five years. For example, the number of heart surgeries performed in the country reached 410,840 by 2018 which was considered 23% than those performed in 2008.
Hartalega Holdings Berhad is holding a significant share in the global market and with the growing synthetic gloves demand globally the Group is expected to continue its production capacity expansion plans. Currently, there are nearly 37 production lines in NGC facility and plant 6 of NGC facility which has the installed capacity of 4.7 billion pieces once completed has commissioned 8 out of 12 lines. With the progressive commissioning of Plant 6 and 7, the Group’s is investing significantly to increase its annual installed capacity current 39 billion to 44 billion pieces (includes all types of gloves) by the end of 2022. In addition, to meet the growing global demand recently the company has entered into an acquisition of a piece of land located in Banting for RM263 million which will serve as the future site for NGC 2.0 capacity expansion plan. Top Glove is estimated to substantial share in the global synthetic medical gloves market. Over the years the company has been expanding aggressively in its nitrile glove capacity by building new production lines in different countries to reach the potential market customers. Also, in 2019, Top Glove successfully filed a total of 145 patents and patent applications, to enhance the marketing strategy for new products. Major players in the global synthetic medical gloves market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.