Latex Surgical Glove Market - Forecasts from 2024 to 2029

Latex Surgical Glove Market - Forecasts from 2024 to 2029

The latex surgical glove market is expected to grow at a CAGR of 6.57% over the forecast period to reach a market size of US$1,786.213 million in 2029 from US$1,145.198 million in 2022.

Latex gloves are natural rubber gloves used as protective gear. During surgeries, latex gloves are used to ensure that no germ transfer occurs between the patient and doctors. Surging healthcare expenditure owing to the rise in disposable living that has increased the standard of living has also raised surgeries for better health and hence driven the market demand. Increasing construction of hospitals and operation rooms owing to higher demand also provides a significant nudge to the market.

Furthermore, strict medical regulations for check-ups and surgeries boosted the demand for latex surgical gloves. However, latex allergy among patients discourages medical staff from operating with latex gloves, which notably hampers the market growth. Hospitals are expected to hold a dominating market share owing to the rising number of surgeries and patients. Furthermore, the construction of new hospitals and increased operation rooms provide a significant nudge to the market demand.

The Asia Pacific latex surgical glove market is forecasted to drive at the fastest rate owing to a surge in medical tourism and growing disposable income, which has expanded the demand for surgeries and other healthcare facilities. China, India, Thailand, Vietnam, South Korea, and Taiwan have emerged as healthcare giants providing quality healthcare facilities at a lower cost. Millions of tourists visit these countries for superior medical facilities, particularly for treatment and surgeries, and hence support the industry demand for latex gloves.

Market Drivers:

The growing number of surgeries is expected to drive the market demand for latex surgical gloves.

One of the prime reasons supporting the latex surgical glove market growth is the rising number of surgeries. With the growth in disposable income and higher standard of living, the consumer prefers surgeries over long-term treatments that are time-consuming and painful. Increasing operating rooms and professionals to perform surgeries also support the market demand. They are essential for healthcare professionals to maintain a sterile environment during procedures. They offer sterility, barrier protection, and superior tactile sensitivity, allowing precision in intricate procedures. They are universally accepted due to their reliability, comfort, and performance.

Latex surgical gloves are used in various surgical specialties, including general surgery, orthopedics, cardiovascular surgery, obstetrics, and gynecology. With population growth, aging demographics, and medical technology advancements, the demand for surgical gloves is increasing, making latex gloves crucial for various surgeries. Data from the American Society for Plastic Surgery shows that plastic surgery in the American region is on the rise.

People wanting to have an ideal body have notably increased the demand for plastic surgeries. The report published by the organization shows that the number of cosmetic surgeries increased to 2.314 million in 2020 from 1.091 million in 2000. Nose reshaping, eyelid surgery, and facelift are the 3 top cosmetic surgeries demanded by patients. Reconstructive surgeries surged to 6.878 million in 2020 from 6.625 million in 2019. Rising demand for surgeries is expected to support the market of latex surgical gloves notably.

Market Restraint:

Rising latex allergy among patients and/or doctors could limit the latex surgical glove market growth.

One of the major restraints the market faces for latex surgical gloves is increasing latex allergy, which refrains doctors from wearing them while performing surgery. Latex may cause itchiness and irritation on the skin of the user and also create a life-threatening condition. Data from the Asthma and Allergy Foundation of America states that around 1% of the total US population is allergic to latex, while globally, up to 5% of the population suffers from latex allergy. The prevalence of this disease hampers the market growth.

The North American and European regions are anticipated to hold a significant share of latex surgical gloves.

The North American and European market for latex surgical gloves is anticipated to hold a dominating share owing to high healthcare expenditure and strict government and industry norms and rules. Furthermore, surging healthcare cost is further forecasted to support the market growth. The US is one of the largest healthcare markets globally.

The healthcare expense stood at US$4.1 trillion in 2020, accounting for 19.7% of the country’s GDP. It is expected that the country’s government healthcare spending will surge to US$6.2 trillion by 2028, surging at a CAGR of 5.4%. Furthermore, data from the World Bank shows that the European Union's per capita health investment has surged from US$3,036.966 in 2015 to over US$3,525.057 in 2018. Growing healthcare expenditure is expected to significantly expand the market prospects for latex surgical gloves in these regions.

Key Developments:

August 2022- Minco Wholesale & Supply Inc. partnered with Canadian manufacturer Supermax Healthcare Canada Group to offer a full selection of quality products and supplies to clients in the healthcare, agriculture, industrial, and hospitality sectors. The partnership includes new models of exam-grade nitrile, vinyl and latex gloves, non-woven & cotton medical products, protective apparel, and protective masks. Popular products include Aurelia® Ignite Nitrile Gloves, Aurelia® Robust Nitrile Gloves, Aurelia® Transform Nitrile Gloves, Aurelia® Bold and Bold Max Nitrile Gloves, Aurelia® Delight PF Vinyl Gloves, and Aurelia® Vibrant Latex Gloves.
April 2022- Kyrgyzstan collaborated with the Agency for Development of the Pharmaceutical Industry under the Ministry of Health of Uzbekistan and Ayu Pharm LLC to produce surgical latex gloves. The agreement aims to establish Kyrgyz-Uzbek production of medical products, with the first step being the joint launch of surgical latex gloves production in Kyrgyzstan.

Company Product:

Sterile Latex Surgical Powder Free Glove- The Latex Surgical Powder Free Glove, manufactured by Top Glove Corporation Bhd, is known for its elasticity and softness, providing biological barrier protection, fit, comfort, dexterity, and flexibility. Its fully anatomical design with curved fingers minimizes hand fatigue during surgical procedures. The palm-textured surface enhances grip and control, while the polymer-coated interior ensures smooth donning. The glove is manufactured under QSR (GMP), ISO 9001:2015, and ISO 13485:2016 quality standards and meets ASTM D3577, EN455, and ISO 10282 standards.

Key Market Segments:

By Type
Powdered
Non-Powdered
By End-User
Hospitals
Medical Centers
Ambulatory Surgical Centers
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Israel
Others
Asia Pacific
China
India
Japan
South Korea
Others