The Emergence of COVID-19 to Augment Growth of the Medical Gloves Market

 

Medical Gloves Market

Medical gloves are often disposable, they are used once and then discarded. Disposable gloves can be washed and reused, but if they are used over an extended period of time it is possible that some bacteria, fungi, or viruses may become immune to most forms of sterilization. For high-quality medical gloves, latex rubber is considered the ultimate product. Latex rubber provides the strength and durability required to provide 100% latex protection against any chemical, biological, or physical agent. With so many different uses, latex rubber remains the material of choice for latex gloves everywhere.

Market Dynamics:

The emergence of COVID-19 (SARS-CoV-2) is expected to propel the growth of the medical gloves market. For instance, in September 2020, Hartalega Holdings Berhad planned to expand its gloves manufacturing capacity to meet the increasing demand for gloves due to COVID-19 pandemic. Moreover, the company commissioned four production lines at Plant 6 of its Next Generation Integrated Glove Manufacturing Complex to accelerate its production capacity. Currently, the company manufactures 38 billion pieces of gloves per annum.

Furthermore, in March 2020, the World Health Organization (WHO) estimated that to deal with the COVID-19 epidemic, around 76 million gloves, 1.6 million goggles, and 89 million masks will be required.

Increasing research and development expenditure, majorly in medical devices industries, biopharmaceutical industry, and research institutes, is expected to augment the growth of the medical gloves market. For instance, the global spending on health increased by 6% in low- and middle-income countries and by 4% in high income countries, according to WHO.

Moreover, rising number of surgical procedures, increasing hospital admissions, the increasing incidences of acute and chronic diseases, stringent regulations about the usage of personal protective equipment and increasing number of hospitals worldwide are some of the major factors expected to drive growth of the medical gloves market.

Competitive Analysis:

Major players operating in the medical gloves market are NAFA (NAFA Enterprises, Ltd.), United Medical Industries Co. Ltd., Salalah Medical Supplies Mfg. Co. LLC, Deeko Bahrain, Falcon, Hotpack Packaging Industries, LLC, and Paul Hartmann AG.

Major players in the market are adopting various strategies, such as product launch, business expansion, etc., to strengthen their market position. For instance, in June 2019, Hartalega Holdings Berhad launched its flagship green product, BioGreen Biodegradable Nitrile Gloves, which can biodegrade in anaerobic environments. The BioGreen glove decomposes 10 times faster than conventional nitrile examination gloves, through microbial processes in landfills.

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