The synthetic medical glove market is projected to witness a compound annual growth rate of 14.86% to grow to US$9,231.071 million by 2025, from US$4,020.930 million in 2019. The high concerns regarding latex allergy caused by latex gloves among healthcare workers is a major driver of the global synthetic medical gloves market.
There has been a continuous rise in the number of cases being reported across the healthcare sector about allergies caused due to the high usage of latex gloves. As a result, many hospitals around the world 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 that is 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 at a substantial rate, increasing the demand to supply gap, 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 has 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 a number of healthcare facilities being converted into COVID-19 facilities on account 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 major 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 both medical and industrial gloves. Despite the proven effectiveness of latex gloves in preventing 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 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 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 OFFERS 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 till the end of the forecast period by growing at the highest CAGR. Nitrile gloves are the most popular type of synthetic medical gloves across the globe 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 been impacting 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.
|Market size value in 2019||US$4,020.930 million|
|Market size value in 2025||US$9,231.071 million|
|Growth Rate||CAGR of 14.86% from 2019 to 2025|
|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, Hartalega Holdings Berhad, Sempermed, Supermax Healthcare, Inc., B. Braun Melsungen AG, Kossan Rubber Industries Bhd|
|Customization scope||Free report customization with purchase.|
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