Selbyville, Delaware, March 25, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on medical gloves market which estimates the global market valuation for medical gloves will cross US$ 13.5 billion by 2026. Rapid growth in the number of surgeries will be a major factor in enhancing the medical gloves market growth. These surgeries majorly include reconstructive surgeries, cardiac operations and transplant procedures that can spread infections in operation theatres. Therefore, surgical gloves play a vital role in preventing the transmission of infection.
Increasing number of contagious diseases will enhance the growth of market. The contagious diseases are detected and diagnosed with the help of a medical test. Rising number of visits to physician offices with infectious diseases will favor market growth over the analysis timeframe. Furthermore, improving healthcare facilities in developing countries will contribute to the market growth.
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The nitrile gloves market is predicted to exhibit 17.8% CAGR across the globe over 2020 to 2026. The high growth can be attributed to the factors including easy availability and cost efficiency of nitrile gloves. Moreover, owing to the advantages such as superior strength and better protection against blood borne pathogens, the segmental growth will witness an increase in the projected years.
According to this report, the powder-free gloves were valued at USD 5.6 billion in 2019. These gloves undergo a process called chlorination that keeps the glove loose. The advantages including an ability to reduce the contamination and to prevent the risk of allergies will further increase the demand for medical gloves market, thereby spurring the segmental growth.
The examination gloves segment held a market share of 71.4% in 2019 and will witness significant growth over the forecast period. The increasing number of infectious and contagious diseases will boost the segment demand. Furthermore, detection and diagnosis of various diseases will increase the need for examination gloves. Hence, the above-mentioned factors will enhance the segmental growth over the analysis timeframe.
The disposable gloves segment exhibited a 10.5% CAGR through 2026, says the analysis report. The growth can be attributed to the advantages of disposable gloves such as greater sensitivity and higher chemical resistance. Furthermore, disposable gloves are thin and can be simply removed. These advantages will boost the product demand, fostering the medical gloves market growth.
Browse key industry insights spread across 850 pages with 2,266 market data tables & 23 figures & charts from the report, “Medical Gloves Market Share & Forecast, 2020– 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/medical-gloves-market
The sterile gloves segment was valued at USD 2.9 billion in 2019. Sterile gloves are primarily used for surgeries owing to the factors such as higher quality and strict packaging standards. Therefore, increasing number of surgeries will boost the demand for sterile gloves.
The e-commerce segment exhibited a 11.6% CAGR during the projected years. Several benefits offered such as bulk discounts and home delivery along with increase in the number of internet users across the globe will contribute to segment growth during the future. Hence, the aforementioned factors will boost the business growth.
The hospitals segment dominated the market with a revenue exceeding USD 2.7 billion in 2019 and will show substantial growth over the forecast years. Rapid growth in the number of healthcare professionals and increase in number of hospitals across the globe have triggered the adoption of medical gloves. Moreover, increasing occurrence of surgeries in hospitals will further contribute in the market growth.
Malaysia medical gloves market is estimated to showcase substantial growth over the forecast period at 16.6% CAGR. The high growth rate can be attributed to the factors such as increasing healthcare expenditure, presence of top market players and rising demand for quality healthcare. For instance, Top Glove has one of its manufacturing unit in Malaysia. Furthermore, increasing consumption of gloves in public hospitals of Malaysia will further boost the medical gloves market in the future.
Some major findings of the medical gloves market report include:
- Increase in number of contagious diseases across the globe will positively impact the global medical gloves market.
- Rapid growth in the number of surgeries across the globe will boost the demand for medical gloves.
- Competitors focus on new product launches and strategic acquisitions in a bid to capture market share and strengthen revenue generation
A few notable companies operating in Medical Gloves market include Top Glove, Supermax, Semperit, Kossan, Cardinal Health, Ansell, Hartalega, Integra LifeSciences, Medline and Rubberex. Industry players are focusing on numerous strategies such as new product launches and acquisitions to consolidate their market presence.
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Partial chapters of report table of contents (TOC):
Chapter 3. Medical Gloves Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2026
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Growing awareness regarding safety and hygiene
3.3.1.2. Rapid growth in the number of surgeries across the globe
3.3.1.3. Increasing number of healthcare facilities in developing countries
3.3.1.4. Growing number of contagious diseases
3.3.2. Industry pitfalls & challenges
3.3.2.1. Health effects associated with nitrile gloves
3.3.2.2. Competitive pricing by local manufacturers
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By form
3.4.3. By application
3.4.4. By usage
3.4.5. By sterility
3.4.6. By distribution channel
3.4.7. By end-use
3.5. Regulatory landscape
3.5.1. U.S.
3.5.2. Europe
3.6. Porter’s analysis
3.7. Competitive landscape, 2018
3.7.1. Company matrix analysis, 2018
3.8. PESTEL analysis
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform, offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.