As per the estimates of the World Health Organization (WHO) non-communicable diseases (NCDs) or chronic diseases account for nearly 71% of the global deaths. The WHO states that approximately 1.5 million, 4.1 million, 9.3 million, and 17.9 million deaths across the world are caused by diabetes, respiratory diseases, cancer, and cardiovascular diseases (CVDs), respectively, every year. The surging prevalence of such chronic diseases is leading to a significant surge in the number of surgeries, which, in turn, is expected to generate a huge requirement for medical gloves in the coming years.
Get Detailed COVID-19 Impact Analysis on the Medical Gloves Market
Moreover, the ongoing COVID-19 pandemic will also help the medical gloves market progress at a healthy CAGR of 10.8% during 2020–2030. The market was valued at $6,633.4 million in 2019 and it is projected to generate $20,435.6 million revenue by 2030. Currently, medical professions are using protective medical items, such as surgical and examination gloves, to contain the spread of coronavirus, as it is transmitted through direct contact. Additionally, the recent outbreak of severe acute respiratory syndrome (SARS), Ebola, Zika, and Middle East respiratory syndrome (MERS) has also augmented the usage of medical gloves worldwide.
In contemporary times, medical professionals are preferring nitrile gloves over latex, vinyl, and neoprene ones, due to their non-allergic properties. Additionally, nitrile gloves exhibit high puncture resistance and they are considered ideal for surgical and medical examination applications. Hospitals, clinics and diagnostic centers and ambulatory surgery centers (ASCs) use a wide variety of sterile and non-sterile medical gloves produced by Kimberly-Clark Corporation, Riverstone Holdings Limited, B. Braun Melsungen AG, Dynarex Corporation, Paul Hartmann AG, SHIELD Scientific B.V., and Medline Industries Inc.
According to P&S Intelligence, North America will dominate the medical gloves market in the foreseeable future, due to the surging prevalence of respiratory diseases, such as chronic obstructive pulmonary disease (COPD) and asthma, in the region. For instance, the Centers for Disease Control and Prevention (CDC) estimates that 25,131,132 people were suffering from asthma in the U.S. in 2019. Besides, the outbreak of the COVID-19 pandemic and the presence of a large number of medical glove producing companies are also propelling the sales of these products in the region.
Furthermore, the Asia-Pacific (APAC) region is expected to create an extensive requirement for medical gloves in the forthcoming years, due to the booming geriatric population, soaring cases of COVID-19, and increasing volume of surgical procedures and diagnostic examinations. The United Nations Population Fund (UNFPA) forecasts that the number of people aged more than 60 years in APAC will reach around 1.3 billion by 2050. Additionally, the improving healthcare infrastructure will also contribute toward the booming demand for medical gloves in the region.
Therefore, the ongoing COVID-19 pandemic and rising incidence of chronic illnesses will propel the usage of medical gloves in the forthcoming years.
