Rockville , March 25, 2024 (GLOBE NEWSWIRE) -- The global medical gloves market is estimated to be worth US$ 11,299 million in 2024 and is anticipated to surpass US$ 27,141.5 million by 2034. The sales of medical gloves are forecast to rise at a CAGR of 9.2% through 2034.
Increasing awareness of hygiene and infection control measures, particularly in healthcare settings, propels the demand for medical gloves. Stringent regulations governing healthcare standards contribute to the market's expansion. The advent of technologically advanced gloves, offering enhanced comfort and agility, aligns with evolving end-user preferences. The growing healthcare sector worldwide and rising infectious disease incidences solidifies the industry's foundation for sustained growth.
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Escalating raw material costs, particularly for latex and nitrile, restrain manufacturers' profit margins. Stringent regulatory compliance requirements, especially in developed regions, increase production costs. Moreover, the industry contends with the environmental impact of disposable gloves, as their disposal raises ecological concerns. Shortages in skilled labor for intricate manufacturing processes can impede production efficiency, posing challenges, especially in regions with high demand.
Amidst challenges, the medical gloves industry unveils promising opportunities. The expanding global healthcare sector, driven by population growth and aging demographics, presents a ripe market for medical gloves. Manufacturers have the opportunity to innovate in eco-friendly glove materials and sustainable production practices, aligning with the rising trend of corporate social responsibility.
The integration of antimicrobial properties into gloves emerges as a progressive trend, aligning with a heightened infection prevention focus. Increased automation in manufacturing processes, driven by technological advancements, enhances efficiency and production capacities. The rise of powder-free gloves gains traction, addressing concerns related to skin irritation and allergies. Furthermore, the industry is experiencing a shift towards online distribution channels and eCommerce platforms, reflecting changing consumer behaviors in procurement.
| Report Attribute | Details |
| Value Projection (2034) | US$ 27,141.5 Million |
| Growth Rate (2024-2034) | 9.2% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 96 Tables |
| No. of Figures | 288 Figures |
Key Takeaways from the Market Study
- In 2024, the medical gloves industry in North America is estimated to be worth US$ 5,295 million, constituting a substantial 46.9% of the global market.
- The United States is projected to hold a commanding 87.8% share in the global medical gloves market in 2024, with an industry worth approximately US$ 4,651 million.
- East Asia's medical gloves sector is anticipated to reach US$ 812 million in 2024, securing a 7.2% share of the global market.
- In 2024, Japan is expected to dominate the medical gloves industry in East Asia with a substantial market share of 58.2%, reflecting an estimated industry value of US$ 473 million.
- The disposable examination gloves segment is poised to dominate the industry and is projected to secure an impressive 72.2% share in 2024.
- The disposable examination gloves segment is estimated to be worth US$ 3,823 million in 2024, showcasing its significance in the medical gloves market.
- The medical sector is predicted to claim a significant share of 85.9% in the global medical gloves industry in 2024, representing a market value of approximately US$ 4,548 million.
- The medical sector's anticipated share translates to a significant industry worth of US$ 4,548 million in 2024, underlining its prominence as a key end-user segment.
“The surge in telemedicine and online healthcare services creates new avenues, as remote consultations drive demand for medical gloves. Collaborations and partnerships across the healthcare supply chain offer strategic opportunities for manufacturers to streamline processes and enhance distribution networks." says a Fact.MR analyst.
Key Companies Profiled in This Report
- Top Glove Corporation Bhd
- Hartalega Holdings Bhd
- Kossan Rubber Industries Bhd
- Supermax Corporation Bhd
- Sri Trang Gloves Public Company Limited
- Intco Medical Pte Ltd
- Ansell Ltd
- Comfort Choice Medical Inc.
- Cardinal Health
- McKesson Corporation
Competitive Landscape
The medical gloves industry boasts a competitive landscape with several key players vying for prominence. Renowned global manufacturers such as Ansell Limited, Top Glove Corporation Bhd, and Hartalega Holdings Berhad dominate the market, leveraging their extensive product portfolios and robust distribution networks. These giants set industry standards through continuous innovation and adherence to stringent quality controls.
Regional dynamics play a crucial role, with the industry witnessing the emergence of prominent local players in various markets. For instance, in Asia, Supermax Corporation Berhad and Kossan Rubber Industries Bhd have made significant strides, contributing to the diversity of the competitive landscape. Their localized expertise and strategic market positioning enhance competition, providing consumers with various options.
Competitive strategies in the medical gloves industry often revolve around research and development initiatives. Companies like Cardinal Health and Semperit AG Holding invest substantially in developing advanced glove technologies, such as antimicrobial properties and enhanced durability. These innovations cater to evolving healthcare needs and confer a competitive edge.
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Country-wise Insights
The medical glove industry in the United States is expected to account for 87.8% of the market by 2024. The United States has a vibrant healthcare system, with several hospitals, clinics, and medical facilities that require a steady supply of high-quality gloves. The strong demand drives local manufacturing and market expansion. The US Food and Drug Administration (FDA) has severe quality and safety rules for medical devices, including gloves. This commitment to high standards ensures product trust and increases market confidence in domestically produced gloves.
In 2024, the Japanese medical glove industry is expected to grow by 58.2%.
Japan's ageing population and advanced healthcare system drive up demand for medical gloves. This ongoing need encourages domestic manufacturing and innovation in the industry. Japanese manufacturers are well-known for their attention to quality control and strict adherence to international standards. This unwavering commitment to quality fosters confidence and loyalty among both domestic and regional consumers.
Japan's advanced manufacturing skills and concentration on R&D have resulted in advancements in glove materials and design. Examples include breathable and comfortable gloves made from novel polymers, which increase market appeal. Furthermore, Japan has a well-developed domestic supply chain for raw materials and glove production. This efficient infrastructure results in lower prices and faster delivery times, giving Japanese businesses a competitive advantage.
Explore More Related Studies Published by Fact.MR Research:
Disposable Gloves Market: The Disposable Gloves landscape is slated to reach a valuation of US$ 1,579.11 Million By 2032.
Nitrile Gloves Market: The market is projected to surge at a CAGR of 23.4% in the forecast period of 2024–2034. It is estimated to attain a valuation of US$ 70,755 million by 2034.
Examination and Surgical Gloves Market: Demand for the examination and surgical gloves market is projected to reach US$ 17,666.5 million by the end of 2034.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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