iCrowd Newswire – Jul 24, 2020
By Application – Segment Analysis
By Application, the Examination Glove is forecast to be the fastest growing with a CAGR of 6% during the forecast period 2020-2025. This is owing to increase in the number of infectious and contagious diseases. A huge number of patients with infections and viral diseases significantly contribute to the growth of the segment. Also, diagnosis and treatment of different diseases contributes to the market for examination gloves. These gloves are either sterile or non-sterile and are used in examining patients and handling sensitive materials. Also, these gloves protect wearer from chemicals, biohazards and other potentially dangerous substances whether the user in a healthcare facilities or in any situation where there is a contamination hazards. Furthermore, it is used to protect patients from any cross contamination during medical procedures thereby increasing the demand of latex medical gloves market during the forecast period 2020-2025.
By End-Use Industry- Segment Analysis
In 2019, Hospitals and Clinics dominated the Latex Medical Gloves Market owing to the increasing number of surgeries and diagnostic tests being performed by them. Besides, the frequency of use and duration of wearing latex gloves among hospital employees had increased with the rising prevalence of infectious diseases. Furthermore, the continual demand for gloves in hospitals, to prevent the spread of infections, is set to increase the market growth. Moreover, the use of Latex gloves in clinics had increased as well. Latex has advantages including elasticity, strength, biodegradability, comfort, flexibility, and fit that make it very commonly used as compared to other materials.
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Geography- Segment Analysis
North America accounts for 35% of the Latex Medical Gloves Market share in 2019. Increasing health concerns among the population along with a better healthcare structure is a major factor propelling its market growth. Furthermore, the presence of major players involved in medical gloves manufacturing and high prevalence of infectious disease coupled with the demand for latex gloves is contributing to its dominance. However, Asia-Pacific is projected to be the fastest growing during the forecast period 2020-2025 owing to rise in production of gloves in countries such as China and India.
Drivers – Latex Medical Gloves Market
- Rising awareness of hygiene and safety among health professional
The Rising awareness of hygiene and safety among health professional is a major factor driving the Latex Medical Gloves Market during the forecast period 2020-2025. An increase in the number of surgeries being performed annually and a rise in the number of patients is also contributing to the demand for latex medical gloves. Besides, medical professionals at all levels use disposable gloves commonly for various medical procedures. Also, manufacturing procedures of medical devices and drugs involve a high level of hygiene and handling to prevent contamination. Thus, the rise in usage of latex gloves by healthcare professionals is said to increase the demand for latex gloves market.
- Rise in the number of infectious disease
The rise in the number of infectious diseases is a major factor contributing to the growth of the latex medical gloves market during the forecast period 2020-2025. Also, throughout the healthcare industry latex glove use increased as it is considered to be an important control measure for protecting both patients and staff. Furthermore, according to the World Health Organization healthcare worker should either wash their hands or use an alcohol-based hand rub immediately after taking off their gloves and hand hygiene should be adhered to even with glove use to reduce the risk of spreading of germs.
Challenges – Latex Medical Gloves Market
- Rise in Skin Allergy and Reaction
Rise in skin allergy and reaction with the use of latex gloves is a major factor restraining its market growth during the forecast period 2020-2025. Also, it offers little chemical protection when handling organic solvents. On 19 December 2016, the FDA had also issued a rule banning powdered gloves as they increased risk of illness or injury to those exposed to it. Thus the allergy to latex and resultant discomfort and irritation of these gloves are challenging the growth of the market.
Latex Medical Gloves Market Industry Outlook
Latex Medical Gloves Market top 10 companies are Akonni Biosystems, Bio-Rad Laboratory, Biofire Defense, Bioneer Corp, General Biosystems, MO BIO Laboratory, Primerdesign. Promega Corporation, Qiagen Inc, and Thermo Fisher Scientific Inc. Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Latex Medical Gloves Market.
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- In March 2020, Food and Drugs Administration is collaborating with various manufacturers of medical gloves to facilitate Non-Powdered Latex Gloves for surgical applications to meet rising demand as glove shortages are faced owing to coronavirus pandemic.
- In March 2020, Anshell acquired 50% share in Malaysian rubber gloves maker Careplus Group Berhad, for obtaining share of its surgical gloves business.
- Medical gloves are of various types including latex gloves vinyl gloves, nitrile gloves and others based on the material of the gloves. However, latex gloves are the most commonly used ones owing to various advantages of this material over others.
- Examination Glove held the largest market in 2019 owing to the rise in the number of infectious and contagious disease.
- In 2019, North America dominated the Latex Medical Gloves Market owing to the increased health concern among population here along with better health infrastructure.
- Detailed analysis for the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Latex Medical Gloves Market report.
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2. Disposable Medical Gloves Market
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