Impact Assessment of COVID-19 Outbreak on Medical Glove Market

TMR

4 years ago

Global Medical Glove Market: An Overview

The global medical glove market is witnessing an increase in demand owing to growing prevalence of infectious diseases such as COVID-19. Besides, incidence of hospital acquired infections is huge, becoming a challenge for both developing and developed nations. Additionally, it is pertinent to note here that poor lifestyle is pushing the incidence of chronic illnesses such as Cardiovascular Diseases (CVD) upward. Together, these are contributing towards a higher market worth from 2019 to 2027, notes Transparency Market Research. This will also create new avenues for market players to tap into for growth.

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Global Medical Glove Market: Competitors Landscape

The fragmented vendor landscape of global medical gloves market is witnessing a number of notable developments in the market landscape because of a slew of aggressive measures taken by top players in the market. These players include the following:

Ansell Healthcare LLC (US)
McKesson Corporation (US)
Cardinal Health, Inc. (US)
Medline Industries, Inc. (US)
Dynarex Corporation (US)
Top Glove Corporation Berhad (Malaysia)
Hartalega Holdings Berhad (Malaysia)
Semperit AG Holding (Austria)
Kimberly-Clark Corporation (U.S.)
Supermax Corporation Berhad (Malaysia)

To ensure a consolidated position in the market, most players deploy a range of strategies such a forging key alliance and directing efforts towards product improvement. Technology holds a prominent place.

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Global Medical Glove Market: Key trends and drivers

The global medical glove market is anticipated to see growth in terms of revenue owing to multiple factors driving up demand for these products. A glimpse into some of the important trends and drivers is provided below:

World over, there is rapid ageing being noted. Population across a number of countries is seeing large number of people turning old. By 2050, one in every six people is expected to enter the group of people aged over 64. One in every four would be found belonging in this age group in the North American and European region. In 2018, in fact, number of older people was more than that of children below 6 years of age. Studies reveal that from about 960 million in 2017, the number of people aged 60 and above would reach the number of 2 billion by the year 2050.
Cases of chronic illnesses are witnessing an increase. And, this is true of both developing as well as developed nations. It is quite significant to note here that in the United States of America itself, six in every ten people are suffering from a chronic disease. This is driving the market for medical gloves upward. Additionally, increase in incidence of Hospital Acquired Infections (HAI) is also a significant contributor of growth.

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Global Medical Glove Market: Regional Analysis

Over the forecast period, the North American region will lay claim to a notable share of the global medical gloves market. The United States of America would be at the forefront of this growth with its massive contribution. Some of the factors that can be attributed to this regional growth are presence of major players and a robust healthcare infrastructure. Besides, the population in this region and in Europe is ageing rapidly. Incidence of chronic illness is quite high in the United States. It is also important to note here that a significant compound annual growth rate (CAGR) will be recorded by the Asia Pacific (APAC) region. This would be attributable to improvement in infrastructure and growing level of awareness regarding safety.