Latex Medical Gloves Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Latex Medical Gloves Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The latex medical gloves market is anticipated to witness a CAGR of nearly 5.1% during the forecast period (2022-2027).

The COVID-19 pandemic had a negative impact on the global economy and healthcare system. The pharmaceutical, medical device, and biotech product supply chains have all been impacted by the worldwide lockdown. On the other side, emphasis has been placed on research and development. The development of COVID-19 diagnostics and treatment options has the support of all governmental organizations and healthcare stakeholders. As hospital-acquired infections have been a recurrent feature of novel coronavirus outbreaks and can be transferred through medical gloves, the prevention of hospital-acquired infections is a crucial component of the clinical care of COVID-19. According to the study “Hospital-Acquired SARS-CoV-2 Infection in the United Kingdom's First COVID-19 Pandemic Wave,” published in August 2021, 11.3% of patients with COVID-19 in 314 United kingdom hospitals became infected after hospital admission. This rate increased to 15.8% in May 2020. Thus, the outbreak has impacted the healthcare facilities in managing hospital-acquired infections. Also, according to the article "FDA Permanently Exempts Seven Class I Gloves from 510(k) Premarket Notification Process," published in January 2021, the Department of Health and Human Services (HHS) made the Food and Drug Administration’s (FDA) temporary exemption from the 510(k) premarket notification process permanent for seven class I medical devices which include latex patient examination gloves. A study titled "Hospital-Acquired SARS-CoV-2 Infection in the UK's First COVID-19 Pandemic Wave," released in August 2021, found that 11.3% of COVID-19 patients in 314 United Kingdom hospitals contracted the virus after being admitted to the hospital. In May 2020, this percentage rose to 15.8%. As a result, the outbreak has affected how healthcare facilities handle infections picked up in hospitals. In addition, the Department of Health and Human Services (HHS) made the Food and Drug Administration's (FDA) temporary exemption from the 510(k) premarket notification process permanent for seven class I medical devices, including latex patient examination gloves, according to the article "FDA Permanently Exempts Seven Class I Gloves from 510(k) Premarket Notification Process," published in January 2021. This was done to address the unmet demand for medical gloves during the peak of COVID-19, driving the market.

The primary driver of this market's expansion is the rise in infectious disease instances, which is also being accompanied by an increase in surgical procedures. The risk of spreading germs and blood-borne infections is another factor that is anticipated to increase the need for latex medical gloves in healthcare facilities. For instance, according to a 2020 article from healthypeople.gov, in the United States, one in every twenty-five hospitalized patients has a hospital-acquired illness (HAI). As a result, the high incidence rate of HAIs in the United States will focus the attention of healthcare facility management and governments on maintaining facility hygiene and taking preventive measures for the same, resulting in profitable market expansion. Due to seasonal factors including the frequency of viral outbreaks and infectious disorders, the market has seen a large increase in demand from the healthcare sector. The demand for latex medical gloves in the healthcare sector has been greatly influenced by growing knowledge of the health and safety precautions related to patient care and emergency response occurrences. Medical examinations with latex gloves assist prevent cross-contamination between patients and doctors. Growth in the market will also be fueled by increased investments in the manufacture of latex gloves. For instance, Sri Trang Gloves (Thailand) Public Co. Ltd. received an investment of EUR 600 million through an initial public offering (IPO) in February 2021. This money will be used to increase the annual production capacity of latex and nitrile examination and industrial gloves by 50 billion pieces by 2022 and 80 billion pieces by 2024. Key market participants' recent actions are anticipated to accelerate market expansion. As a result, it is anticipated that during the research period, the aforementioned elements will see significant growth.

However, risks associated with latex gloves are the major challenge faced by the manufacturers. Some polymers are one of the leading causes of irritation for some physicians and may hamper business growth in the future.

Key Market TrendsSurgical Gloves Segment Dominates the Market and is Expected to Continue the Same during the Forecast Period

The surgical glove sector will dominate the latex medical glove market during the forecast period. An increasing number of surgical operations using latex gloves are a high-impact rendering driver. In March 2020, according to the "FDA Eases Regulatory Requirements on Surgical Gowns, Gloves" article by the Regulatory Affairs Professionals Society, the Food and Drug Administration (FDA) will improve the availability of gloves and will not object to their usage and distribution. The FDA regulates surgeon's gloves (i.e., gloves worn on the hands of operating room staff to protect a surgical wound from contamination) and non-powdered patient examination gloves (i.e., gloves worn on the examiner's hand or finger to prevent contamination between patient and examiner) as Class I (reserved) devices, subject to premarket notification requirements under 510(k) of the FDCA. To prevent unnecessary hazards to health, the FDA will, however, permit the distribution of these gloves if they contain the proper warnings and meet the following requirements, as stated in its Enforcement Policy.

Moreover, the market is driven by the growing number of surgeries, which increases the demand for surgical gloves. Additionally, the growing elderly population will increase surgical treatments, fueling market expansion. Around 727 million individuals worldwide are 65 or older, according to the United Nations World Ageing 2020 report. In 2050, this figure is anticipated to increase to 1.5 billion. Dental, veterinary, EMS, and aesthetic uses are included in the surgical application category. Increased consumer health awareness, environmental sustainability, and greater physician protection have taken center stage in this market segment, which is projected to fuel demand.

The North America Dominates the Market and is Expected to Continue the Same during the Forecast Period

The primary driving factors for the growth of the North American latex medical gloves market are the increased importance of health and safety measures, a rise in the number of surgeries, and an increasing burden of infections such as hospital-acquired infections in the region. In addition, strategic initiatives by key market players such as establishing the new manufacturing facility, partnerships, and others are also expected to contribute to market growth. During the research period, it is anticipated that the United States will hold a significant share of the market in North America. For instance, one in 31 patients in the United States contracts at least one infection as a result of receiving hospital care every day, according to the "2020 HAI Progress Report Executive Summary" report released by the Centers for Disease Control and Prevention, underscoring the demand for improvements in patient care procedures in the nation's healthcare facilities. As a result, the market is brought about by the government's increased demand for maintaining adequate cleanliness, which involves the use of new medical gloves.

Additionally, in September 2020, Mr. Tanatdaj Sillapavitsawakul and Mr. Rujipart Tanapattarachaitat founded QB Medical to sell several kinds of gloves to the market for a variety of uses. They discovered a massive project to build a production facility to manufacture nitrile and latex gloves under the trade name BQLOVE, costing 8,000 million baht. According to the American Society of Plastic Surgeons' National Plastic Surgery Statistics 2020, 2,314720 cosmetic surgical procedures were carried out in the country in 2020. Additionally, there were 6,878,486 reconstructive surgeries completed in the United States in 2020. During surgery, latex medical gloves are essential. Therefore, the studied market is expected to witness significant growth in the coming years.

Thus, the studied market is expected to witness significant growth in the region due to the abovementioned factors.

Competitive Landscape

The market for latex medical gloves is highly competitive and consists of several global as well as local players. The companies are involved in new product development initiatives, mergers and acquisitions, and geographical expansion. The competitive environment is marked by key players extensively deploying sustainability strategies. Some of the most notable companies are Ansel Ltd, Cardinal Health, McKesson Medical-Surgical Inc., and Valutek Inc.

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• The market estimate (ME) sheet in Excel format
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