MEDICAL GLOVE MARKET FORECAST WITH A CAGR OF 15 PERCENT THROUGH 2025

MEDICAL GLOVE MARKET FORECAST WITH A CAGR OF 15 PERCENT THROUGH 2025

The medical gloves market size is expected to grow at a CAGR of over 15 percent during the period 2019–2025, according to Arizton.com. In-depth analysis and data-driven insights on the impact of COVID-19 are included in this global medical gloves market report. The global medical gloves market is growing at a healthy rate. The growth can be attributed to the growing demand for safety and hygiene standards to prevent the risk of contamination and infections in healthcare settings during medical and treatment measures. The growth in surgical procedures for several diseases and potential risk reduction for surgical site infection (SSI) is likely to fuel the market growth. The nitrile segment is expected to witness an incremental growth of over $6 billion by 2025. This is due to the growing number of latex allergies among patients and HCPs, which trigger an ongoing shift from latex to nitrile gloves. The examination segment is likely to grow at the highest CAGR during the forecast period on account of the high application of examination gloves to prevent contamination from chemical, biohazards and other potentially dangerous substances. The revenue share of the non-powdered gloves segment is projected to reach over $15 billion by 2025 on account of restrictions imposed on the application of the powdered ones. The medical gloves market size in India is expected to grow at CAGR of over 19 percent during the period 2019­–2025. The growth is due to the high prevalence of coronary artery diseases and cardiac diseases, which require surgical interventions. Health care professionals will continue to demand the latest medical gloves to treat acute and chronic diseases, which will promote safe and effective treatment outcomes. The emergence of new pandemic challenges such as COVID-19 will drive the future growth of the market. A strong preference for non-powdered medical gloves is also likely to drive future market growth. The North American market is expected to grow at a CAGR of over 15 percent during the period 2019­–2025. The region is characterized by high penetration of advanced treatment solutions for chronic and acute diseases, and advancements in material such as latex-free non-allergic gloves. Favorable government financial support for several surgical procedures results in the higher uptake of surgeries as well as surgical gloves. North America offers tremendous growth opportunities; therefore, the market is expected to continue to grow during the upcoming period. The U.S. is the major revenue contributor to the global market. The country holds the highest value due to better healthcare facilities and medical coverage and spending. The U.S. medical gloves market is growing at a significant rate and is likely to grow during the forecast period. The global medical gloves market share is very fragmented and is highly competitive, and characterized by the presence of many global, regional and local vendors. The vendors are offering a diverse range of medical gloves for both examination and surgical applications. Large and diversified companies account for major shares. Also, most key players such as Top Glove, Ansell, Kossan Rubber Industries, Hartalega Holdings and Supermax have demonstrated consistent growth over the last few years.

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