Global Disposable Gloves Market Thriving: Projected to touch USD 18.8 Billion by 2027, growing at the CAGR of 9.2% during the forecast period (2021-2027)
Published | 23 August 2021
A study recently conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global disposable gloves market was worth USD10.2 Billion in the year 2020.
The data generated by the study further reveals that the market is estimated to grow at a CAGR of 9.2%, earning revenue of around USD 18.8 Billion by the end of 2027. The growing awareness related to employee health and safety in developing countries is expected to drive the growth of the global disposable gloves market in the coming years. Furthermore, the rising demand for disposable gloves in medical operations, combined with technological advancement, is expected to support market growth.Moreover, safety concerns and increased hygiene have led to an increase in the usage of disposable gloves across the globe.
The Growth in the Number of End-Users is Favoring the Market Growth
The rise in safety concerns and hygiene has caused disposable gloves to become more popular over the years. The growing demand for disposable gloves in the automotive finishing, chemical, health care, pharmaceutical, and oil & gas industries influence the market growth.Additionally, the healthcare industry is expected to see significant growth in developing economies, thereby propelling the growth of the global disposable gloves market. Furthermore, increasing healthcare expenditures are expected to spur the growth of the healthcare industry, thereby spurring the demand for disposable gloves.
Market Growth is Driven by Increasing Health Issues
Contact with dangerous chemicals at work is the leading cause of health problems among workers.Several industries, including healthcare, medical, and mining, are exposed to risks related to skin diseases, rashes, wounds in the hands, and bloodborne pathogens.The global demand for disposable gloves will be driven primarily by safety regulations during the forecast period.An increase in communicable diseases, coupled with the COVID-19 pandemic is expected to fuel the growth of disposable gloves in the coming years.
Allergic Reactions to Latex May Hamper the Market Growth
Disposable gloves are primarily made from natural latex.Despite this, latex allergy is a significant barrier to the uptake of organic rubber products in the medical and food manufacturing industries. Latex allergies can cause itchy skin, hives, or even anaphylaxis, a potentially fatal condition that can lead to difficulty breathing and throat swelling. Moreover, compared to other products, disposable gloves require a high level of capital due to the high price of raw materials and the complexity of manufacturing processes.
Impact of COVID-19 in the Global Disposable Gloves Market
The disposable gloves market has been affected positively by COVID-19 as the demand for disposable gloves skyrocketed during the pandemic. In the coming years, disposable glove vendors will be swamped with orders. Manufacturers are focusing on increasing production capacity for medical gloves due to the ongoing COVID-19 pandemic, which has added to the recent increase in sales of such products. Despite the market growth, the pandemic-induced lockdown has caused a huge shortage of raw materials, and the cost of disposable gloves has risen accordingly.
Powder-free Product Segment Occupiesthe Largest Share of the Global Disposable Gloves Market
Based on products, the global disposable gloves market is grouped into powdered, andpowder-free segments. The powder-free product segment dominates the global disposable gloves market and accounted for the largest market share in 2020. The use of powdered gloves is heavily restricted by many governments across the globe, which has significantly contributed to the growth of the powder-free gloves market.Powder-free gloves are preferred by several industries, including chemical, medical, food processing, and others, and this trend will drive the segment in the coming years.
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The Asia Pacific is Expected to Witness Significant Growth during the Forecast period
Based on regions, the global disposable gloves marketis categorized into North America, Latin America, Europe, the AsiaPacific, the Middle East, and Africa. Among all these regions, the Asia-Pacific holds the largest market share as it has lucrative opportunities for main players in the disposable gloves market. Rising populations, coupled with a high elderly population growth rate, are factors contributing to the growth of this segment.Additionally, rising healthcare expenses are likely to drive the growth of the disposable gloves market in the region.Also, the Asia Pacific market is expected to see the fastest development throughout the forecast period due to the rise in the volume of surgical measures, increasing occurrence of chronic diseases, as well as medical tourism.
The key players in the global disposable gloves market are Top Glove Corporation Bhd, Semperit Ag Holding, Supermax Corporation Berhad, Kossan Rubber Industries Bhd, and Rubberex Corporation (M) Berhad, Ansell Limited, Cardinal Health, Inc, AdventaBerhad (Sun Healthcare), Hartalega Holdings Berhad, Dynarex Corporation and other key manufacturers.
An increasing awareness from consumers about the advantages of raw materials, such as comfort, durability, and elasticity, leads to an increase in the number of R&D activities by the prominent market players. Innovations such as these have been contributed to broadening the scope of applications of disposable gloves by modifying existing designs.
Do not miss the business opportunity of the Global Disposable Gloves Market. Consult our analysts to gain crucial insights, and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global disposable gloves market.It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global disposable gloves marketand industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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