Disposable Gloves Market to Grow Exponentially by 2029

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24 May, 2023, 10:05 ET

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LONDON, May 24, 2023 /PRNewswire/ -- The atmosphere is full of pollutants and contaminants that can lead to the occurrence of various infectious or chronic ailments. Apart from that, there are certain entities including chemicals that can prove disastrous if they come into contact with human skin. In such cases, disposable gloves come to the rescue. These single use gloves are predominantly used in sectors like healthcare, food services, chemical, oil & gas, and construction, among others. By using these gloves, individuals can prevent themselves from coming in contact with disease causing bacteria, toxins, and harmful chemicals, among others.

The research report on Disposable Gloves Market by Brandessence Market Research is curated with an aim to empower the readers with in depth knowledge about this industry. It provides valuable insights into the top market trends, growth drivers, challenges, and opportunities. It further offers accurate and up-to-date data on market size, market share, and revenue projections. The study also incorporates segmental analysis, geographical assessment, and competitive analysis. This report equips readers with the knowledge and analysis necessary to succeed in the dynamic disposable gloves industry.

Key takeaways

The Disposable Gloves Market is anticipated to generate significant returns over the assessment timeline of 2022-2029.

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Elaborating the key trends and dynamics of the Disposable Gloves Market

Growing prevalence of infectious diseases, rising product adoption in the healthcare sector, and increased hygiene consciousness among the masses are primarily augmenting the outlook of this business sphere. Furthermore, stringent workplace safety standards, booming construction industry, and increasing pollution levels are creating lucrative opportunities for this marketplace to prosper. Alongside, surge in healthcare spending across numerous nations and widespread population expansion are adding momentum to the progression of this industry vertical.

Major growth drivers

Rising adoption in the healthcare sector- Healthcare facilities like hospitals, clinics, and diagnostic centers, among others are a Hubspot for disease causing germs. Patients suffering from infectious or chronic ailments and injuries visit these facilities. The healthcare professionals need to come in contact with these patients to treat them, leaving them at a high risk of coming in contact with disease causing germs. This has increased the adopting of disposable gloves which can be worn while coming in contact with any patient. These factors are stimulating the overall dynamics of this marketplace.

Strict workplace safety regulations- Individuals working in sectors like construction, and chemicals, oil & gas, among others are at a high risk of coming in contact with toxins. They are required to handle toxic components during their work which eventually exposes them to various infections and ailments. Thus, various nations have mandated the use of protective gears including disposable gloves for the employees working in the mentioned sectors. This in turn is creating an upward trend in this industry sphere.

Environmental Concerns: Disposable gloves are often made from synthetic materials such as latex, nitrile, or vinyl, which have an environmental impact due to their production and disposal. The widespread use of disposable gloves generates significant amounts of plastic waste, leading to concerns about pollution, waste management, and sustainability. Increasingly, consumers, businesses, and regulatory bodies are placing emphasis on eco-friendly alternatives and sustainable practices. These factors together are hindering the remuneration scope of this market.

Competitive landscape of Disposable Gloves Market

The prominent players defining the competitive terrain of this business vertical are Ansell Healthcare Products LLC, Kossan Rubber Industries Bhd., Hartalega Holdings Berhad, Cardinal Health, Adventa Berhad, Dynarex Corporation, MRK Healthcare Private Limited, Rubberex Corporation Bhd., Semperit AG Holding, Shield Scientific B.V., Supermax Corporation Berhad, Top Glove Corporation Bhd, M Bhd, B. Braun Melsungen AG, Unigloves, Kimberly-Clark Corporation, and MCR Safety.

Segmental Assessment

By product type, the natural rubber gloves segment is reckoned to amass notable gains over 2022-2029. This is due to the flexibility and elasticity of natural rubber as compared to other components.

Based on application type, the medical segment is slated to garner significant returns over the stipulated timeline. This is attributable to the fact that patients affected to various disorders visit healthcare facilities, increasing the susceptibility of healthcare providers to various infections.

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Geographical analysis and landscape

Middle East & Africa Disposable Gloves Market

MEA is poised to capture a substantial revenue share over the analysis timeline of 2022-2029. This is ascribed to the rising product adoption in the healthcare sector, increasing hygiene consciousness, and growing disposable income levels. Also, surge in the prevalence of infectious diseases and rapid industrialization are adding momentum to the development of this regional market.

Europe

Europe is projected to emerge as one of the fastest growing regions in this marketplace. This is credited to the increased healthcare expenditure, strict workplace safety regulations, and growing product adoption in the food services sector.

Opportunities in this industry

Onset of the COVID-19 pandemic- The sudden outbreak of the COVID-19 pandemic made us adapt to a new normal. Being a communicable disease, the primary way to prevent it is to minimize contact with other individuals. This increased the usage of face masks and gloves since they helped individuals to maintain a safe distance from coming into contact with this deadly virus. This creating profitable growth opportunity for this business sphere.

Major developments in Disposable Gloves Market

Acquisitions

In 2020, Hartalega, a leading glove manufacturer, announced the acquisition of Aurelia Gloves, a UK-based manufacturer of disposable gloves with an aim to increase its market share and cater to the growing demand for disposable gloves in Europe.

In 2021, In 2021, Supermax Corporation Berhad, a Malaysian glove manufacturer, announced to have acquired Latexx Partners Berhad.

Porter's Five Forces Analysis

Threat of new entrants- This industry witnesses a moderate threat of new entrants. Players looking forward to enter this market face significant entry barriers including the need for substantial investments in manufacturing facilities, adherence to stringent quality and safety standards, compliance with regulations, and building brand reputation. But, due to the high growth prospects, they make extensive efforts to break all the barriers and make a mark in the industry.

Bargaining power of suppliers- Suppliers have a moderate to high bargaining power in this market. uppliers of raw materials, such as latex, nitrile, or vinyl, can exert influence over glove manufacturers. Fluctuations in the prices of raw materials and availability can impact production costs. However, manufacturers often have multiple suppliers and the ability to switch suppliers if needed. Moreover, backward integration by glove manufacturers, where they produce their own raw materials, can reduce the bargaining power of suppliers.

Bargaining power of buyers- The bargaining power of buyers in this industry is high. Due to the presence of a large number of suppliers, they can negotiate on the price before making their purchase decisions.

Threat of substitutes- The market faces a relative low threat of substitutes. There are a very few alternatives that are as affordable, convenient, and hygienic as disposable gloves. Although reusable gloves can be regarded as an ideal substitute for disposable gloves, but there is a high risk of infection associated with them if they are not properly sterilized after use.

Competitive rivalry- This market is highly competitive in nature. The market is characterized by numerous manufacturers, both global and regional, competing for market share. Competitive factors include product quality, price, brand reputation, innovation, and distribution capabilities. Price competition can be intense, particularly during periods of high demand.

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