Market Snapshot
| Study Period: | 2018 - 2026 |
| Base Year: | 2020 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | North America |
| CAGR: | 5.1 % |
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Market Overview
The latex medical disposables market is projected to register a CAGR of 5.1% during the forecast period.
The COVID-19 pandemic has been continuing to transform the growth of various markets, the immediate impact of the outbreak is varied. While a few industries registered a drop in demand, numerous other markets may continue to remain unscathed and show promising growth opportunities. The market for latex medical disposable is witnessing a strong growth due to the COVID-19 outbreak. Additionally, the demand for medical disposables products has increased rapidly across the world. However, initially supply chain issues were being observed. The supply availability has been hampered by several issues, including export and travel restrictions by some producing countries and lockdowns that have forced suppliers to (temporarily) shut down. However, to meet the increasing demand, manufacturers have increased their production to supply the essentials. In March 2020, Top Glove Corporation increased the production and sales of medical gloves. Additionally, in September 2020, the two business partners, Mr.Tanatdaj Sillapavitsawakul and Mr.Rujipart Tanapattarachaitat, have launched QB Medical to supply several types of medical gloves.
Some of the factors driving the latex medical disposables market are the increasing prevalence of lifestyle-associated and other chronic diseases and the growing number of baby boomers. As per the World Health Organization 2018, the chronic disorder is the leading cause of death and disability and the leading driver of the nation’s USD 3.5 trillion in annual health care costs. Additionally, As per the statistics from the World Health Organisation 2018, there was an estimated number of 18.1 million new cancer cases in 2018 across the world, and this number is expected to increase over the forecast period. This factor is expected to augment the demand for related surgeries. The growing geriatric population and increasing awareness of the patient pool regarding the infection prevention control norms are some of the major factors contributing to the growth of the latex medical disposables space.
Moreover, as per a 2020 report by the American Hospital Association (AHA), in 2018, hospitals recorded a total of 879.6 million outpatient visits. These numbers continuously increased over the years, as per the AHA reports. For instance, as per the 2018 report by AHA, there were around 439.86 million outpatient visits in community hospitals in 1996, which increased from nearly 599.55 million by 2006 to 747.09 million in 2016.
Limiting the risk of infection and cross-contamination are a few of the primary aims of healthcare professionals and governments, worldwide. The increasing volume of patient admissions in hospitals, coupled with growing incidences of healthcare-associated infections, is bolstering the market growth. As per the Massachusetts Health & Hospital Association 2018, healthcare-associated infection claims around 7 million people every year, thereby, fueling the growth of the market.
Furthermore, government-enforced mandatory guidelines to improve the quality of patient care are expected to boost the penetration of latex medical disposables in the future. Most medical disposable product manufacturers are using high-quality latex disposables, which are driven by sustainable material, process, and design innovation, resulting in effective product engineering and design.
However, FDA norms to improve the design and safety of reusable medical products may hamper business growth in the future.
Scope of the Report
As per the scope of this report, latex medical disposables are the products that are widely used in hospitals or in medical fields for the prevention of infections and safety measures to meet the medical standards. The latex medical disposables are important to lower the risk of cross-contamination and infections that is the primary aim of healthcare professionals and governments. Latex medical disposables involve latex gloves, latex urethral catheters, and latex probe covers. The latex medical disposables market is segmented by product (latex gloves, latex foley catheters, latex probe covers, urine bags, and other products), end user (hospitals, diagnostic centers, ambulatory surgical centers, and other end users), and geography (North America, Europe, Asia Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments.
| By Product | |
| Latex Gloves | |
| Latex Foley Catheters | |
| Latex Probe Covers | |
| Urine Bags | |
| Other Products |
| By End User | |
| Hospitals | |
| Diagnostic Centers | |
| Ambulatory Surgical Centers | |
| Other End Users |
| By Geography | ||||||||
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Key Market Trends
Latex Medical Gloves for Varied Applications is Expected to Capture Significant Revenue Share over the Forecast Period
The COVID-19 pandemic has affected the supply chain of several pharmaceutical products. The restrictions on pharmaceutical manufacturing and export had affected many products sold in some countries, such as the United States, Europe, and other countries. Some of the medical disposables are manufactured in-house at the pharma companies, while other medical disposables of the company are manufactured with facilities in other countries, such as contract manufacturing services, which further impacted the supply chain of products. However, the demand for latex medical gloves has risen in the COVID-19 pandemic due to the increased patient population. In April 2020, 3M India announced that it raised the production of medical-grade equipment in the country in the range of 35% to 40%. Additionally, a high percentage of medical admissions in hospitals, worldwide, are mainly for chronic conditions and COVID-19 issues, which has further increased the demand for medical gloves.
Moreover, the increased application of disposable latex medical gloves, owing to their advantages, is the key factor driving the segment growth. Disposable latex gloves have proved to be very useful in the medical sector because of their low cost, hygiene, and safety. Physicians examining patients suffering from contagious diseases need to maintain hygiene for personal safety. Disposable gloves act as a shield that protects them from contagious infection.
Gloves are essential equipment in a hospital setting, as they obstruct cross-contamination between the potentially infected patients and caregivers and help prevent the spread of infection. The rising number of hospital visits is also increasing the demand for latex medical gloves. For instance, in England, the number of visits to the accident and emergency department (A&E) increased continuously over the years. As per the 2020 report by the National Health Service, the attendance rose from 59,396 in 2013 to 70,230 in 2019.
Moreover, some chemotherapy drugs are dangerous to handle with bare hands. Trends have shown that medical professionals have been implementing double latex gloving to reduce the risk of failure on account of wear and tear. Moreover, technological advancement resulted in supporting utilities made up of a high-quality polymer. Such factors are expected to boost the segment demand over the forecast period.
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The North America Dominates the Market and is Expected to Continue the Same during the Forecast Period
The United States is the most COVID-affected country across the world. The supply chain of products was highly impacted in this country. Additionally, the United States is severely affected by the recent spread of COVID-19. As per the CDC, on April 5, 2021, there were 30,706,128 total cases in the United States, with 555,001 deaths, due to the pandemic. Consequently, the government and regulatory bodies are taking measures to prevent the further spread of the disease. Many companies are also increasing their production to meet the high demand due to the sudden outbreak. For instance, according to the American health department officials 2020, the current demand for medical gloves is estimated to be about 8.7 billion a month, or 104 billion gloves per year, due to the COVID-19 pandemic.
Moreover, North America is the largest market for latex medical disposable due to the presence of well-established healthcare infrastructure, the higher adoption rate of advanced technology, and growing awareness regarding the effects of cross-contamination and infection control measures in healthcare facilities. According to the Surgical Site Infection Surveillance of 2018, by the Centre for Disease Control and Prevention, around 8,205 deaths were caused due to surgical site infections in the United States. Hence, maintaining a healthy and safe environment for patients and healthcare providers is of utmost importance, which may lead to the high demand of the market studied.
Moreover, according to the American Society of Plastic Surgeons (ASPS) 2019, almost 1.8 million cosmetic surgical procedures and 16.3 million cosmetic minimally-invasive procedures were performed in the United States in 2019. Additionally, according to the Global Health and Wellness Report published in 2018, nearly 40% of the adult population in the United States was diagnosed with a cardiovascular condition. Hence, the increasing volume of patient admissions in hospitals is expected to boost the penetration of latex medical disposables in the region.
Furthermore, Asia Pacific is anticipated to increase at a stable rate mainly due to high cost, coupled with minimal awareness by the regional government. India and China are projected to offer significant opportunities for healthcare infrastructure improvement and the growing number of private hospitals. In Africa, the industry is expected to grow at a lower rate owing to the lack of healthcare sector development initiatives and expensive medical services.
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Competitive Landscape
Different players are operating in the varied segments of the latex medical disposables sector. However, the overall vertical is consolidated with a few international players competing with each other. Additionally, these international players dominate the global market since the brand identity and quality of products offered by these players are more reliable than those provided by the domestic players.
Some of the companies which are currently present in the market are ANSELL LTD, B Braun Melsungen AG, Becton, Dickinson and Company, Fisher Scientific, and Top Glove Corporation Bhd. For instance, in May 2018, Symphony Environmental Technologies Plc launched the first latex antimicrobial examination glove made with d2p technology to gain a competitive edge.
Recent Developments
In July 2020, the company Vystar Corporation contracted with a manufacturer in Thailand for the production of ultra-low protein Vytex natural rubber latex disposable gloves for workers and consumers for preventing the spread of coronavirus via hand contact.
In June 2020, the company Honeywell offered safety packs for airline passengers and crew while flying. The safety packs contain latex-free gloves, a safety mask, and hand wipes.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Number of Baby Boomers
4.2.2 Increasing Prevalence of Chronic Diseases Leading to Longer Hospital Admissions
4.3 Market Restraints
4.3.1 FDA Norms to Improve Design and Safety of Reusable Medical Products
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Latex Gloves
5.1.2 Latex Foley Catheters
5.1.3 Latex Probe Covers
5.1.4 Urine Bags
5.1.5 Other Products
5.2 By End User
5.2.1 Hospitals
5.2.2 Diagnostic Centers
5.2.3 Ambulatory Surgical Centers
5.2.4 Other End Users
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia Pacific
5.3.4 Middle-East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 ANSELL LTD
6.1.2 B Braun Melsungen AG
6.1.3 Becton, Dickinson and Company
6.1.4 Fisher Scientific
6.1.5 Hartalega Holdings Berhad
6.1.6 Reflexx SpA
6.1.7 Secured Medical Direction UK Co. Ltd
6.1.8 Supermax Corporation Berhad
6.1.9 Top Glove Corporation Bhd
6.1.10 Cardinal Health
6.1.11 Clean Q Grip
6.1.12 Kossan Rubber Industries Bhd
6.1.13 McKesson Medical-Surgical Inc.
6.1.14 Rubberex
6.1.15 SHIELD Scientific
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Latex Medical Disposables Market market is studied from 2018 - 2026.
What is the growth rate of Latex Medical Disposables Market?
The Latex Medical Disposables Market is growing at a CAGR of 5.1% over the next 5 years.
Which region has highest growth rate in Latex Medical Disposables Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Latex Medical Disposables Market?
North America holds highest share in 2020.
Who are the key players in Latex Medical Disposables Market?
ANSELL LTD, Top Glove Corporation Bhd , Becton, Dickinson and Company , Fisher Scientific , B Braun Melsungen AG are the major companies operating in Latex Medical Disposables Market.
