Japan Medical Gloves Market Registering Impressive Growth: Forecast to Grow at a CAGR of 16.4% by 2028
Published | 12 January 2022
Japan medical gloves market is growing at a high CAGR because of the increasing burden of various infectious and chronic diseases in the country, along with increasing demand for surgical procedures, especially cosmetic surgery. Another factor propelling the market forward is the flourishing medical tourism industry.
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the Japan medical gloves market was worth USD 659.8 million in 2021. According to the study, the market is estimated to grow at a CAGR of 16.4%, earning revenue of around USD 1,907.1 million by the end of 2028. Japan medical gloves market is growing at a high rate due to the strict guidelines the government has set for the use of personal protective equipment by healthcare workers post the COVID-19 outbreak to prevent cross-contamination and hospital-acquired infections (HAIs). Furthermore, the growing burden of various infectious and chronic diseases and rising demand for diagnostic tests and medical examination is anticipated to drive the market growth during the forecast period. However, growing concern towards medical waste generated through non-biodegradable medical gloves may act as a huge restraining factor for the market growth.
Growing Online Sales Channels May Provide Lucrative Growth Opportunities during the Forecast Period
The increasing penetration of smartphones and expanding online platforms are providing significant growth opportunities to the Japan medical gloves market. Many manufacturers are turning to popular websites such as Amazon.com and launching standalone websites in an effort to reach out to more consumers. Moreover, medical glove manufacturers, such as Top Glove, Nulife, Cardinal Health, Nipro, etc., provide a variety of products on their websites and accept bulk orders from healthcare facilities, which is expected to drive market growth.
Rising Demand for Nitrile Medical Gloves is Anticipated to Drive the Market Growth
Based on raw materials, Japan medical gloves market is segmented into latex, nitrile rubber, vinyl rubber, polyisoprene, and others. Nitrile medical gloves hold the largest share of the market due to their superior chemical resistance when compared to other materials. Additionally, they are highly puncture-resistant, frictionless, and durable, providing protection against pathogens, body fluids, and chemicals. However, the vinyl rubber segment also represents a substantial share of the market due to its lower cost and protection against skin allergies and reactions.
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Japan Medical Gloves Market - By End-User
Based on end-users, the Japan medical gloves market is segmented into hospitals, clinics, ambulatory surgery centers, diagnostic centers, rehabilitation centers, and others. Among these, the hospital segment dominates the market because of the surging COVID-19 cases in these facilities and the rising demand for PPE kits, including medical gloves to protect the frontline workers from the transmission of the deadly coronavirus. However, the diagnostic centers are anticipated to witness the highest growth rate during the forecast period as the government is establishing new diagnostic centers for rapid COVID-19 testing to prevent further outbreaks in the country.
Impact of COVID-19 on Japan Medical Gloves Market
As a result of the COVID-19 pandemic outbreak in Japan, the medical gloves market in the country enjoyed lucrative growth opportunities. After the COVID-19 outbreak, the Japanese government made it mandatory for all healthcare professionals to wear medical gloves to prevent the spread of the virus, which significantly boosted the demand for medical gloves. Thus, the country witnessed a spike in sales of disposable medical gloves due to the fact that frontline healthcare workers widely used them to protect themselves from virus transmission. Currently, with the Omicron variant rearing its ugly head in Japan, the country’s medical gloves market may once again face a huge demand and supply gap.
Japan Medical Gloves Market- Competitive Landscape
The leading players in the Japan medical gloves market are Motorix International Inc., Sansei Medical Instruments Co., Ltd., Nippon Chemical Screw Co., Ltd., Asahi Sangyo Co., Ltd., Green Drive Corporation, Urano Kogyo Co., Ltd., ICP Chemicals Co., Ltd., Happy Hands Latex Gloves Ltd., Sanko Chemical Industry Co. Ltd., Curex Mediwell LLC, and other prominent players.
Japan medical gloves market is highly fragmented due to the presence of several industry participants. The huge demand and supply gap for medical gloves in Japan is providing significant growth opportunities to the new entrants. Different market players offer a wide range of products made from a variety of materials and for a variety of end-user needs. They are also focusing on improving their distribution channel and shifting towards online platforms to boost their product penetration. Furthermore, the adoption of competitive strategies, such as mergers, acquisitions, collaborations, joint ventures, etc., is also prominent in this market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Japan medical gloves market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the Japan medical gloves market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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