DUBLIN–(BUSINESS WIRE)–Jan 29, 2021–
The "Examination Glove Market – Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com’s offering.
The global examination glove market is expected to grow at a compound annual growth rate of 10.51% over the forecast period to reach a market size of US$10,887.626 million in 2026 from US$5,975.957 million in 2020.
Examination gloves are disposable gloves designed to aid medical practitioners by providing them protection from cross-contamination from patients. The demand for examination gloves will increase owing to the rising demand for healthcare services worldwide.
Moreover, the demand for examination gloves will also snowball due to the growing adoption of hygienic and cleaner medical practices. However, the environmental concerns caused by the use of synthetic material and health concerns by the use of powdered gloves will restrain the market growth during the forecasted period. The North American and European regions will have a significant share in the market due to high investment in the medical and healthcare field. The Asia Pacific market will also see ample growth opportunities on account of rising investment in the healthcare segment and an increasing number of medical cases in the region.
Increasing Healthcare Budget To drive the Market Growth
Healthcare has become one of the imperative sectors, both in terms of employment and revenue. Healthcare comprises medical devices, medical equipment, hospitals, clinics, and others. With the increasing population, worldwide, it has become imperative to spend substantial capital on healthcare, globally. According to the United Nations, the global population is expected to surge by at least 2 billion people, in the next 30 years. The population would rose from 7.7 billion in the year 2019 to 9.7 billion, in the year 2050. These trends show the importance of healthcare spending. The United States health care spending surged by 4.6% in the year 2019, to reach approx. USD 3.8 trillion, or around USD 11,582 per person.
The overall share of GDP related to healthcare budget or spending was around 17.7% in the year 2019. According to the United States National Healthcare Expenditure, retail spending for medical products such as surgical gloves and dressings, surged by 5.6% to around USD 82.1 Billion in the year 2019, compared to an approximate rate of 3.8% in the year 2018. The growth in healthcare spending in the country continued to surge in the year 2020, because of the COVID-19 Pandemic. In India, the healthcare sector is growing due to increasing expenditure by private and public players. According to the Indian Brand Equity Foundation, a trust established by the Indian Ministry of Commerce, the Indian Healthcare Market has been growing at an 18% CAGR rate. The overall government spending on Healthcare increased from 1.3% of the GDP in the year 2016 to 1.6% in the year 2020. According to the data released by the Department for Promotion of Industry and Trade, Diagnostic Centers and Hospitals attracted Foreign Direct Investment of USD 6.72 Billion, between the year 2000 and 2020.
These developments had a positive effect on the examination gloves market, as surgical and examination gloves are an imperative part of the medical equipment market. The Government of India aims to surge healthcare spending to 3% of the GDP, by the year 2022.
Companies Mentioned
- Kanam Latex Industries Pvt. Ltd.
- MRK Healthcare
- Kossan Rubber Industries
- K.S. Surgical Pvt. Ltd.
- Surgi Pharma
- Curas Ltd.
- Cardinal Health
- Medline Industries Inc.
- Ansell Limited
- Sarah Healthcare
- Tan Sin Lian Industries Sdn Bhd
- Top Glove Corporation
- Haratelga
- Supermax
- Riverstone Holdings
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Overview and Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Porters Five Forces Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. The threat of New Entrants
4.4.4. Threat of Substitutes
4.4.5. Competitive Rivalry in the Industry
4.5. Industry Value Chain Analysis
5. Global Examination Glove Market Analysis, By Material
5.1. Latex
5.2. Synthetic
6. Global Examination Glove Market Analysis, By Sterility
6.1. Sterile
6.2. Non-Sterile
7. Global Examination Glove Market Analysis, By Type
7.1. Powdered
7.2. Non-Powdered
8. Global Examination Glove Market Analysis, by Geography
8.1. Introduction
8.2. North America
8.3. South America
8.4. Europe
8.5. The Middle East and Africa
8.6. Asia Pacific
9. Competitive Intelligence
9.1. Competitive Benchmarking and Analysis
9.2. Recent Deals and Investments
9.3. Strategies of Key Players
10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/z1g569
View source version on businesswire.com:https://www.businesswire.com/news/home/20210129005314/en/
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KEYWORD:
INDUSTRY KEYWORD: MEDICAL SUPPLIES HEALTH
SOURCE: Research and Markets
Copyright Business Wire 2021.
PUB: 01/29/2021 08:23 AM/DISC: 01/29/2021 08:23 AM
http://www.businesswire.com/news/home/20210129005314/en
