(I-BusinessNews.Com, March 16, 2022 ) The Examination and Surgical Gloves Market is slated to grow on a stupendous note in the future. In the ongoing situation, virtual monitoring tools coupled with telehealth consultations could help in getting patients treatments at home instead of hospitals. There are pre-programmed mobile devices, pulse oximeters, blood pressure monitors, and various other devices that help the healthcare personnel in keeping up with basic information. This trend is bound to keep the healthcare vertical continuously on its toes in the years to come as well.
Revenue from the sales of examination and surgical gloves amount to US$ 6.7 Bn in 2021 and the revenues are expected to attain a valuation of US$ 13.9 Bn by the end of 2031. This data has been analyzed in an updated survey on the examination and surgical gloves market by analysts at Persistence Market Research, which predicts the market to rise at a CAGR of 7.6% over the decade.
Demand for medical and surgical gloves has grown exponentially over the past decade, and this trend is expected to be continue over this decade as well. Examination and surgical glove sales growth can be attributed to increasing focus on healthcare and hygiene, rising healthcare expenditure, increasing surgical procedures, rising risk of hospital-acquired infections, prevalence of chronic and infectious diseases, etc.
Increase awareness about hygiene across the globe and initiatives from non-profits and governments are contributing to demand growth of examination and surgical gloves. Emerging economies where the trend of hygiene is picking up and healthcare infrastructure is being developed are the most lucrative markets for the sales of examination and surgical gloves.
Prime players in the industry are investing in the development of new facilities in order to expand their manufacturing capacity and meet high demand across the world.
In September 2021, American Nitrile, a newly launched company, announced its plans for a new production facility that would be entirely dedicated to producing nitrile gloves for healthcare and industrial use. The facility is a move to fulfill the rising demand for medical and non-medical latex-free nitrile gloves.
In July 2021, hospital supply group Premier Inc. and Honeywell International announced that they would be launching a new venture that would be capable of manufacturing 750 million nitrile exam gloves in the U.S. each year.
Many such efforts by other manufacturers are also being made in order to meet the high demand for gloves, especially from the medical sector.
The global examination and surgical gloves market is predicted to expand at a CAGR of 7.6% through 2031.
Market revenue set to amount to a net worth of US$ 6.7 Bn in 2021.
Market revenue is anticipated to be around US$ 13.9 Bn by the end of the decade.
North America is anticipated to dominate the global industry in terms of market share.
“Demand for examination and surgical gloves is expected to be prominent over the next ten years as healthcare expenditure increases and awareness for hygiene and safety rises across the globe,” says a Persistence Market Research analyst.
More Valuable Insights on Offer
Persistence Market Research, a research and consulting firm, has published a new market research report on the global examination and surgical gloves market that contains industry analysis of 2016–2020 and opportunity assessment for 2021–2031.
The report provides in-depth analysis of the market through different segments, namely, product, raw material, usage, distribution channel, and region. The report also provides supply and demand trends along with an overview of the parent market.
The global medical oxygen systems market is likely to represent an absolute $ opportunity of approximately US$ 200 Mn in 2017 and an incremental opportunity of nearly US$ 2,000 Mn from 2016-2026.
Nitrile Gloves Market
Persistence Market Research predicts that the global nitrile gloves market will exhibit an impressive CAGR of 24% during the forecast period (2020-2030), to be valued at US$ 26.7 Bn by 2030-end.
Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.
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