Market Size of Latex Medical Gloves Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Latex Medical Gloves Market Analysis
The latex medical gloves market is anticipated to witness a CAGR of nearly 5.1% during the forecast period.
The COVID-19 pandemic has had a significant impact on the latex medical gloves market owing to the lockdown measures imposed by the government across the globe which led to the disruption of supply chain activities. Also, the suspension of elective surgeries during the pandemic has impacted the demand for latex medical gloves. For instance, according to an article published in the British Journal of Surgery, in October 2021, an estimated 28 million surgeries were canceled or delayed during the peak 12 weeks of COVID-19 disruption. In addition, as per the same source, 25% of elective cesarean sections, 37% of cancer surgeries, and 81% of benign condition operations were postponed, globally, during the pandemic. Also, according to the data published by FDA, in January 2021, the Department of Health and Human Services (HHS) made FDA temporary exemption from the 510(k) premarket notification process permanent for seven class I medical devices, including latex patient examination gloves. the Department of Health and Human Services (HHS) made FDA's temporary exemption from the 510(k) premarket notification process permanent for seven class I medical devices, including latex patient examination gloves. Thus, the studied market has witnessed significant growth after the pandemic restrictions and is expected to grow over the forecast period.
Factors such as the increased importance of health and safety measures and the growing prevalence of infections during surgeries are expected to boost the market growth over the forecast period.
Healthcare-associated infections are one of the major causes of morbidity. Also, the WHO and the United States FDA recommended that medical gloves be worn strictly during all examinations, surgical procedures, regular check-ups, tests, and other healthcare procedures.
Additionally, the rising prevalence of hospital-acquired infections or surgical site infections is the key factor driving the market growth. For instance, according to the data published by the National and State HAI Progress 2021 Report, it has been observed that the HAI increased between 2020 and 2021, including 11% in surgical site infection (SSI-HYST) and 7% in central line-associated bloodstream infection (CLABSI). Also, the increasing geriatric and pediatricpopulation as well as the people in ICUs are at high riskof getting a healthcare-associatedinfection. For instance, as per an article published in Annals of Intensive Care, in March 2022, it has been observed that intensive care unit (ICU) admissions among the elderly population are expected to increase with the increasing global populationand the patients aged 65 years or above constitute more ICU admissions, followed by people aged 80 years and 85 years old. Thus, the high number of hospital admission rates raises the need for latex gloves to avoid the transmission of viruses or bacteria from one person to another, thereby contributing to market growth.
Therefore, owing to the aforementioned factors, the studied market is anticipated to grow over the forecast period. However, the high cost of raw materials for manufacturing latex gloves is likely to impede the growth of the latex medical gloves market over the forecast period.
