Driven by the Covid19 Pandemic, Rising Concerns over Health and Infectious Diseases, Public Health Initiatives Sponsored by the Government, and Rising Demands from Multiple Industries, Global Disposable Gloves Market is forecasted to cross US$15 Bn by 2030 says Ken Research Study
Gloves are pieces of clothing that cover a part of our hands. Disposable gloves are use-and-throw products that can reduce the spread of infection. Natural rubber latex, nitrile, and vinyl are among the widely used disposable glove varieties available in the market. These gloves are majorly used in the healthcare industry, including hospitals, clinics, dental facilities, EMS, and others. However, since the Covid19 pandemic, awareness about wearing gloves has spread among other industries as a mandatory precaution. Such industries include food processing, restaurant chains, chemicals, automotive aftermarket, and others. Ken Research shares 5 key insights on this high opportunity market from its latest research study.
According to Ken Research estimates, the Global Disposable Gloves Market – which grew from around US$7 Billion in 2019 to nearly US$10 Billion in 2022 – is expected to grow further into a more than US$15 Billion opportunity by 2027.
1. Global Disposable Gloves Market Witnessed Growth During and Since the Breakout of the COVID-19 Pandemic
The Global Disposable Gloves Market is expected to witness significant growth during the forecast period due to the Covid19 pandemic, and increasing demand for PPE (Personal Protective Equipment) kits. In addition, the active participation of national governments across regions with WHO (World Health Organisation) and other health associations on the global and country-level is expected to help spread awareness regarding the importance of personal safety equipment. Increasing Covid19 infection also led to a surge in surgeries, resulting in a surge in demand for disposable gloves. In 2020, Germany led the charts in surgical procedures conducted throughout the world with 858,553 surgeries in a year, followed by Korea (702,621), and France (748,940).
2. Per Capita Health Spending Was Already On a Rise, Even Before the COVID-19 Pandemic Broke Out
The worldwide outbreak of the COVID-19 pandemic definitely boosted the market for disposable gloves along with the larger market for Personal Protective Equipment. Public health campaigns played a significant role in making people aware of the positive impact of disposable gloves. However, the global numbers for health expenditure per capita were already on a consistent rise before the pandemic broke out. The spread of the virus added to the growth by making people more conscious about the ramifications wearing gloves could bring.
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3. Fluctuating Rubber and Other Commodity Prices amid Global Political Tension Can Hamper the Growth of the Market
Rubber is the key material used in disposable gloves, and the prices of rubber have been fluctuating widely over the past few years. Moreover, with rising global tension, commodity prices over the world are getting affected due to the bans on export and import.
Increased demand and inadequate supply result in higher prices. According to available industry data, the value of rubber glove imports to the US in 2021 reached US$7 billion, up from US$2.3 billion in 2020.
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