Latex Medical Gloves Market: Current Analysis and Forecast (2023-2030)

Latex Medical Gloves are conventionally used in the medical domain for preventing transmission of bloodborne pathogens or related infections from healthcare professionals to the patient or vice versa. These gloves are favored over other types of gloves due to their high durability, chemical resistance as well as flexibility. The latex medical gloves market has seen a potential rise in gaining the inclination of healthcare organizations in the market. Apart from this many factors were responsible for propelling this market, like the rise in communicable diseases, the rise in surgical procedures, increased awareness about health and safety measures, government regulations and policies, and higher rate of hospital visits. For instance, Stanford Medicine reported 13 million surgical procedures in 49 states of U.S. in 2020 Also, the COVID-19 pandemic helped latex medical gloves substantially gain prevalence in the market. Multiple glove manufacturers including Amazing Rubber Products Pvt Ltd, Anhui Zhong Lian Latex Gloves Manufacturing Co., Ltd., Fitone Latex Products Co., Ltd. got premarket approval for latex medical gloves from the FDA in the year 2022.

The Latex Medical Gloves Market is expected to grow at a strong CAGR of 4.5% during the forecast period owing to the rising pharmaceutical investment in the development of medical gloves. Pharmaceutical companies have adopted strategic alliances to maintain a competitive edge in the global market. For instance, in April 2022, the Agency for Development of Pharmaceutical Industry under the Ministry of Health of Uzbekistan collaborated with Ayu Pharm LLC (part of Ayu Holding, Kyrgyzstan) for the manufacturing of surgical latex gloves and other medical products. Also, Minco Wholesale & Supply Inc. collaborated with Supermax Healthcare Canada Group in August 2022 for the distribution of medical disposables including gloves in North America.

Based on raw material, the market is bifurcated into natural rubber latex and synthetic rubber latex. The natural rubber latex segment held the dominant share of the market in the year 2022 owing to its widespread use for handling water-based and biological materials while performing surgeries. These kinds of natural gloves are extracted from natural sources such as rubber plants and are well-known to provide a higher level of comfort, tensile as well as tear strength to healthcare professionals. Additionally, natural rubber latex gloves are disposable, which makes them sustainable for the environment. These factors are supposed to drive the dominance of natural rubber latex gloves in the market.

By application, the market is bifurcated into examination gloves and surgical gloves. The surgical gloves segment held the dominant share of the market in 2022 owing to the rise in the prevalence of surgical procedures throughout the world. Multiple medical product companies are draining their funds and efforts to bring a potent solution to meet latex gloves market demands. For instance, Malaysia-based company Careplus Group designed latex-textured surgical gloves which were tested for use with chemotherapy drugs. The company applied for marketing approval at the U.S. Food and Drug Administration which was approved in May 2021.

On the basis of end users, the market is segmented into hospitals and clinic, ambulatory surgical centers, and others. The hospital and clinic segment held a significant share of the market in 2022 attributed to the rising admissions in hospitals for surgical procedures, rising government support, and awareness programs regarding safety measures in the past few years, especially after the COVID-19 pandemic. For instance, the government of India issued National Guidelines for Infection Prevention and Control in Healthcare Facilities in January 2020 to control the spread of infections in hospitals and clinics.

For a better understanding of the market adoption of the latex gloves industry, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America held a significant share of the market. Several factors such as increasing healthcare expenditure, the surge in the prevalence of chronic diseases, rising patient awareness, and the presence of the majority of key players and their associated surge in the production of medical products are driving the regional market. For instance, U.S.-based research and development company- Medical Industries of the Americas (MI Americas) launched a latex glove production unit in Alabama in October 2022.

Some of the major players operating in the market include: Thermo Fisher Scientific, Inc.; BIONEER CORPORATION; Bio-Rad Laboratories, Inc.; ANSELL LTD.; Cardinal Health; Clean Q Grip; Top Glove Corporation Bhd.; Kossan Rubber Industries Bhd.; Rubberex Corporation (M) Berhad; Valutek Inc.