The outbreak of COVID-19 has led to substantial growth in the personal hygiene and protection sector, and demand for disposable gloves has gained high traction. While adoption of disposable gloves in untapped markets is creating promising opportunities for stakeholders, surge in demand from the medical and healthcare sector is further fuelling the growth of manufacturers. Besides, these gloves are also widely used in the automotive, chemical, and oil & gas end-use sectors on a large scale.
The latest report on ‘disposable gloves’ by Fact.MR offers a detailed analysis of the current market trends, demand-supply curves, and growth & restraining factors for potential players during the forecast period of 2021 to 2031. According to the report, increase in healthcare expenditure and rising requirements from varied end-use sectors will remain key driving factors to industry growth, with demand for nitrile disposable gloves surging across geographies. Overall, the industry outlook will remain progressive with the market projected to expand at a CAGR of over 10% through 2031.
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Key Takeaways from Study
- High demand for nitrile gloves likely to be witnessed
- Rise in demand from medical sector to fuel sales significantly
- Non-powdered disposable gloves to have major share of revenue in terms of product type
- The United States to lead in the world’s largest disposable gloves industry – North America
- Germany remains the hotspot in Europe disposable gloves market
- China, Japan, the United Kingdom, Canada, South Korea, and France to remain highly lucrative markets over the next ten years
“With personal hygiene and safety gaining serious prominence, demand for disposable gloves is skyrocketing. Furthermore, various governmental rules, regulations, and initiatives are favoring manufactures in increasing their sales footprint,”says a Fact.MR analyst.
How is Surge in Demand from the Medical Sector Key to Disposable Glove Manufacturers?
Disposable gloves are extensively used in the medical sector while treating patients with infectious diseases; during surgeries; and for maintaining the hygiene and safety of doctors, health workers, and patients. According to a report titled “Size and Distribution of the Global Volume of Surgery” by the World Health Organization (WHO) on 1st March 2016, the estimated mean global surgical rate is 4,469 operations per 100,000 people per year. This data portrays the requirement for medical disposables, including gloves for surgical procedures across the globe.
As stated in a report titled “Strategies for Optimizing the Supply of Disposable Medical Gloves”, published by the Centers for Disease Control and Prevention (CDC) on 23rd December 2020, in order to help healthcare facilities plan and optimize the use of gloves in response to COVID-19, CDC has developed a Personal Protective Equipment (PPE) Burn Rate Calculator, where three general strata are used to describe surge capacity-
- Conventional capacity
- Contingency capacity
- Crisis capacity
Such initiatives are further catering to the growth of disposable glove suppliers across the world.
Who is Winning in this Space?
The global disposable gloves industry is growing fast, creating a tougher competitive environment for key players. In order to excel in this space, top companies are investing heavily along with focusing more on the quality and material of products.
- Kossan Rubber Industries Bhd launched its new PURESAFE Latex Examination Glove, CHEMAX Nitrile Examination Glove, and others, a couple of years back.
- Supermax Corporation Bhd recently launched its Low Powder Hypoallergenic Latex Examination Gloves and Powder Free Latex Examination Gloves with Protein Content Labeling Claim, and others.