Emphasis on Raw Material (Natural Rubber Latex, Synthetic Rubber Latex); Application (Examination Gloves, Surgical Gloves); End User (Hospital and Clinic, Ambulatory Surgery Center, Others); Region/Country
The Latex Medical Gloves Market was valued at USD 12.6 billion in 2022, growing at a CAGR of 4.5% during the forecast period from 2023 – 2030. Owing to the surge in infectious disease occurrence, rising number of surgical procedures throughout the world, bulky investment in the healthcare sector for the development of effective and safer medical products. Multiple factors have led to a surge in the market including a higher rate of hospital visits for surgical procedures, an increased number of infectious or communicable disease cases throughout the world, and prevailing strict government policies for maintaining health and hygiene in public places. For instance, the World Bank reported in the year 2020 that nearly 37.7 million people worldwide were living with HIV, which is a deadly infectious disease. Diseases like HIV can be controlled if appropriate safety measures are followed by healthcare professionals and patients. Apart from this, the presence of various government and non-government organizations that aim to enhance awareness about health hygiene is also propelling market growth. Organizations like the Centers for Disease Control and Prevention in the U.S., the National Centers for Disease Control in India, and the Health Security Agency in the U.K. look after guidelines related to health safety measures.
Some of the major players operating in the market include Thermo Fisher Scientific, Inc.; BIONEER CORPORATION; Bio-Rad Laboratories, Inc.; ANSELL LTD.; Cardinal Health; Clean Q Grip; Top Glove Corporation Bhd.; Kossan Rubber Industries Bhd.; Rubberex Corporation (M) Berhad; Valutek Inc. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst raw materials, the synthetic rubber latex segment to grow with high CAGR during the forecast period”
Based on raw materials, the market is bifurcated into natural rubber latex and synthetic rubber latex. The synthetic rubber latex segment is expected to grow with a high CAGR during the forecast period as quite a lot of people are allergic to natural rubber latex which causes skin irritations and other problems. For instance, an agency of the UK government, the Health and Safety Executive (HSE) reported that the prevalence of latex allergy is about 1% to 6% in the general population and about 8% to 12% of allergies in regularly exposed health care workers in the reviewed report of October 2022. As a result, synthetic rubber latex medical gloves are anticipated to grow with a high CAGR in the forthcoming years.
“Amongst application, the examination gloves category to grow with high CAGR during the forecast period”
By application, the market is bifurcated into examination gloves and surgical gloves. The examination gloves segment is anticipated to grow with significant CAGR during the forecast period majorly due to the latex examination gloves fit comfortably providing better tear resistance. Moreover, the increase in the prevalence of transferrable diseases is a major factor boosting examination gloves in the latex gloves market. Proper usage of medical disposables during medical examination can potentially prevent the spread of infections. For instance, in May 2022, the World Health Organization (WHO) released its first-ever global report on infection prevention and control which concluded that good hygiene at hospitals using disposable examination gloves and products can prevent 70% of healthcare-associated infections (HAI).
“Amongst end users, the hospital and clinic segment to grow with high CAGR during the forecast period”
Based on end users, the market is segmented into hospitals and clinics, ambulatory surgical centers, and others. The hospital and clinic segment is anticipated to grow with high CAGR during the forecast period owing to rising hospital admissions due to a surge in the prevalence of various infectious diseases and rising surgical procedures. Other factors, including increasing healthcare expenditure, rising patient awareness levels for maintenance of health and hygiene, and availability of advanced hospital infrastructure in developed countries are factors expected to result in the dominance of the segment during the forecast period. For instance, according to the American Hospital Association, there were about 6,100 hospitals in the U.S. in 2022, which comprised community hospitals run by non-profit organizations as well as state and local governments.
“APAC to grow with high CAGR during the forecast period”
APAC is expected to grow with the highest CAGR during the forecast period. Several factors, such as rising disposable income, a large patient pool, and rising research and development activities are driving the regional market growth. Countries such as India and China offer attractive investment opportunities for the disposables market and are anticipated to positively drive surgical procedure demand prospects for latex medical gloves. There are bulky investments and collaborations in the APAC region’s disposables market. Likewise, recently in February 2023, authorities of Thailand, which is the world’s largest rubber supplier claimed that they are willing to expand the export of natural rubber gloves to India and China which would further boost the production of latex medical gloves in the APAC region. Thus, APAC is anticipated to grow with a high CAGR during the forecast period.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Latex Medical Gloves Market
6. Latex Medical Gloves Market Revenue (usd Bn), 2020-2030f
7. Market Insights By Raw Material
8. Market Insights By Application
9. Market Insights By End User
10. Market Insights By Region
11. Latex Medical Gloves Market Dynamics
12. Latex Medical Gloves Market Opportunities
13. Latex Medical Gloves Market Trends
14. Demand And Supply-side Analysis
15. Competitive Scenario
16. Company Profiled
17. Disclaimer
Research Methodology for the Latex Medical Gloves Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global latex medical gloves market were the three major steps undertaken to create and analyze the adoption of latex medical gloves in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global latex medical gloves market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the latex medical gloves market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the latex medical gloves market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as raw material, application, end-user, and region. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the latex medical gloves market. Further, we conducted factor analysis using dependent and independent variables such as raw material, application, end-user, and region of the latex medical gloves market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the latex medical gloves market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global latex medical gloves market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global latex medical gloves market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the raw material, application, end-user, and region in the global latex medical gloves market.
The main objective of the Global Latex Medical Gloves Market Study
The current & future market trends of the global latex medical gloves market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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