Disposable Gloves Market
According to Fortune Business Insights, the global disposable gloves market size was valued at USD 17.12 billion in 2023 and is projected to grow from USD 19.88 billion in 2024 to USD 51.75 billion by 2032, exhibiting a CAGR of 12.7% during the forecast period. Southeast Asia dominated the disposable gloves market with a market share of 52.69% in 2023. Moreover, the disposable gloves market in the U.S. is projected to grow significantly, reaching an estimated value of USD 3,728.5 million by 2032, driven by the surge in chronic diseases coupled with the rise in the country's aging population.
The gloves that were usually limited to healthcare workers are now commonly utilized by the common public. Since gloves carries a vital role in protection against virus infection, the market witnessed significant growth owing to rising demand from both frontline workers and the general public. The global disposable gloves market share is highly competitive. The products are mainly produced by large firms. Due to the pandemic, small companies have also started glove production leading to a high competitive rivalry rate. Most small companies are focusing on the domestic market.
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LIST OF KEY COMPANIES PROFILED:
- Top Glove Corporation Bhd (Malaysia)
- Hartalega Holdings Berhad (Malaysia)
- Kossan Rubber Industries Bhd (Malaysia)
- ANSELL LTD (Australia)
- Sempermed (Austria)
- Cardinal Health (U.S.)
- Supermax Corporation Berhad (Malaysia)
- Intco Medical (China)
- Bluesail Medical Co., Ltd. (China)
- Riverstone Holdings Limited (Malaysia)
- YTY Group (Malaysia)
Market Dynamics
Key Growth Drivers
- Healthcare Sector Expansion: The rising number of surgical procedures and diagnostic tests globally has led to increased demand for disposable gloves in medical settings. In the U.S. alone, over 48 million surgeries are performed annually, each requiring multiple glove changes.
- Industrial and Food Safety Regulations: Stricter safety standards in industries such as food processing, pharmaceuticals, and manufacturing have boosted glove usage to prevent contamination and ensure worker safety.
- Post-Pandemic Hygiene Awareness: The COVID-19 pandemic has heightened global awareness of hygiene practices, leading to increased glove usage in both professional and personal settings.
Material Trends
- Nitrile Gloves: Preferred for their durability and resistance to chemicals, nitrile gloves are gaining popularity, especially among users with latex allergies.
- Natural Rubber Gloves: Despite the rise of synthetic alternatives, natural rubber gloves remain significant, accounting for 36.4% of global revenue demand in 2024.
- Powder-Free Gloves: Due to concerns over allergic reactions and contamination, powder-free gloves have become the dominant product segment, holding 75% market share in 2023.
Regional Insights
- North America: Leading the market with a 37.41% share in 2024, driven by a well-established healthcare system and stringent safety regulations.
- Asia-Pacific: Expected to witness the fastest growth due to rapid industrialization, urbanization, and healthcare infrastructure development in countries like China and India.
- Europe: Maintains a significant market presence, with increasing demand for sustainable and biodegradable glove options in response to environmental concerns.
Challenges and Opportunities
Challenges
- Raw Material Price Volatility: Fluctuations in the prices of latex, nitrile, and vinyl can impact manufacturing costs and supply stability.
- Environmental Concerns: The disposal of non-biodegradable gloves contributes to environmental pollution, prompting calls for more sustainable solutions.
Opportunities
- Biodegradable Gloves: Growing demand for eco-friendly products is encouraging manufacturers to develop gloves made from biodegradable materials.
- Technological Advancements: Innovations in glove design, such as enhanced grip and touchscreen compatibility, are expanding their applicability across various sectors.
The disposable gloves market is poised for continued growth, driven by increased hygiene awareness, regulatory requirements, and technological innovations. While challenges such as raw material price volatility and environmental concerns persist, opportunities in biodegradable products and advanced glove technologies offer promising avenues for market expansion.
Information Source: https://www.fortunebusinessinsights.com/disposable-gloves-market-106777
KEY INDUSTRY DEVELOPMENTS:
January 2021 – Ansell Limited, completed the acquisition of the Primus brand and related assets that consist of the Life Science business belonging to Primus Gloves and Sanrea Healthcare Products (“Primus”). In addition, Ansell and Primus have entered into a long-term supply partnership. Primus is an Indian manufacturer and marketer of gloves sold in the Life Science and Specialty Medical sectors and is one of the few global producers of long cuff gloves with strong brand recognition. This acquisition increases the company’s presence in this important Indian market and provides them with the opportunity to further speed up the growth of their Life Sciences business.
May 2021 - Honeywell and Premier Inc. established a new business partnership aimed at increasing nitrile exam glove production in the U.S. In the first year alone, this new alliance is estimated to create at least 750 million nitrile test gloves. The partnership is anticipated to provide access to domestically produced exam gloves for hospitals, clinics, and other healthcare professionals in the U.S.
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