Increasing rates of healthcare utilization and improving hygiene standards are driving demand for Medical and Surgical Gloves surging in emerging markets.
This newly updated analysis of the World Market for Disposable Medical Gloves from Marketstrat projects a decline in latex, the traditional leader, to about 40% over the next few years. Synthetics will preside with a 3% lead in cumulative growth rate. By the end of 2019, disposable medical gloves will exceed $5 billion in revenues on a global level. The US and EU collectively account for well over 60% of exam and surgical gloves used globally. Emerging markets will grow with about a 14% lead over the forecast period.
Asian manufacturers are ramping up nitrile production and investing in technology that allows them to alter the latex-nitrile balance to meet fluctuations in demand. A manufacturing shift that is tilted heavily toward nitrile appears to be essential for profitability. While the dominant trend in mature medical glove markets is diminishing use of latex, particularly powdered latex, emerging markets have a wide open door, with opportunities for all types of medical gloves. Hartalega and Supermax, two of the largest manufacturers and OEM suppliers are launching affordable OBM products to stake out new territory in emerging markets where competition from established MNC brands is relatively low.
The surgical glove segment in the US and EU regions is seeing a rapid expansion of high-tech synthetics like isoprene. Entry barriers continue to be high within this segment due to complexity of manufacturing surgical grade glove materials that can meet international standards. Most traditional glove manufacturers currently lack this capability and face new competition from manufacturers of synthetic polymers like Synthomer and Kraton Polymers.
Marketstrat’s report discusses these and other trends sculpting the medical glove landscape including market shares of leaders and competitive strategies. Market projections in revenues, ASPs and unit sales are provided for the 2013 to 2019 period.