As per a statement by P&S Intelligence, the medical gloves industry will reach USD 20,435.6 million, propelling at a rate of 10.8%, by 2030.
The growth in the industry is credited to the increasing elderly population, the growing risk of contagious diseases, mounting healthcare expenses, the growing volume of surgeries, and the increasing incidence of chronic diseases.
The medical gloves industry had been positively affected by the COVID-19 pandemic, due to the sudden surge in medical supplies demand.
Based on raw materials, the nitrile category held the largest share of the medical gloves industry in recent years. This is mainly due to its non-allergic properties.
North America is expected to dominate the industry in the years to come, owing to the widespread necessity for medical gloves in healthcare units, and the existence of strong key players.
Moreover, APAC is expected to witness the fastest growth in the coming years, owing to the increasing elderly populace and rising number of surgical procedures and diagnostic examinations.
A key trend observe in the industry is the fondness for non-powdered medical gloves over powdered medical gloves by the customers, due to the non-allergic properties of the non-powdered medical gloves.
In the past few years, players in the industry have been involved in product launches and mergers & acquisitions to maintain a competitive edge.
Hence, due to the increasing elderly pullulation, increasing incidence of chronic diseases, and growing risk of contagious diseases, the medical gloves industry will continue to grow significantly in the years to come.