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COVID-19 IMPACT: WHAT DOES THE FUTURE HOLD FOR MEDICAL GLOVES MARKET?

The global medical gloves market is estimated to reach US$12.39 billion in 2024, growing at a CAGR of 10.80% for the period spanning from 2020 to 2024. The factors such as increasing GNI per capita and rising healthcare spending, increasing aging population, growing number of surgical procedures and rising number of chronic diseases are expected to drive the market. However, growth of the industry will be challenged by health hazards associated with health effects associated with certain gloves. A few notable trends include rising number of contagious diseases, growing awareness regarding health and hygiene and strict regulations related to usage of PPE kits.

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The global medical gloves market is segmented into latex, nitrile, vinyl and neoprene gloves. Nitrile gloves represent the fastest growing segment owing to easy availability and cost efficiency of nitrile gloves.

The global medical gloves market is expected to grow in future due to rising health spending, increasing number of surgeries and growing awareness regarding health. In terms of geographical areas, North America and Europe are major contributors to the global medical gloves market supported by rising spread of infectious diseases and awareness regarding health and hygiene. Asia Pacific recorded the fastest growing market for medical gloves with rising healthcare infrastructure and increasing incidence of chronic diseases.

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