by The global nitrile gloves market, valued at approximately US$10 billion in 2021, has experienced substantial growth, catalyzed by the unprecedented demands arising from the COVID-19 pandemic. This burgeoning market continues to demonstrate promising prospects, particularly in the realm of cosmetic surgeries and medical procedures.
Perceived Benefits During Clinical Procedures Drive Market Growth
Nitrile gloves represent a significant advancement in the medical equipment sector, offering distinct advantages over their traditional counterparts. Crafted from synthetic polymers, these gloves have gained favor across various applications, with medical facilities prioritizing product quality and cost-effectiveness. Nitrile gloves strike a balance between affordability and operational functionality, outperforming latex gloves in both aspects. They are renowned for their superior quality and cost-efficiency, making them the preferred choice in both medical and non-medical fields.
Moreover, nitrile gloves excel in chemical resistance compared to vinyl and latex alternatives, making them indispensable in laboratory settings. With a substantial portion of the population prone to latex allergies, the latex-free nature of nitrile gloves makes them the primary choice for surgeries and routine check-ups. Their additional benefits, including high tactile sensitivity, exceptional puncture and tear resistance, and comfortable fit, have further contributed to their widespread use in various applications.
Rise in Cosmetic Surgery and Wound Care Fuels Market Expansion
The nitrile gloves market is poised for growth, driven by the increasing number of surgeries, especially in the field of plastic and cosmetic procedures. Data from organizations like ISAPS and ASPS reveal a surge in cosmetic surgeries worldwide, necessitating advanced safety measures for both surgeons and patients. This demand has led to a notable uptick in the adoption of nitrile gloves.
Furthermore, the rising incidence of road accidents has raised concerns for individuals and healthcare facilities alike. Increased accidents have resulted in more injuries, potentially leading to chronic wounds if not properly managed. Complications associated with chronic wounds underscore the importance of effective medical wearables in protecting physicians and patients from further infections, creating a significant growth avenue for the nitrile gloves market.
Disposable Gloves Drive Market Value
The demand for disposable nitrile gloves has witnessed a substantial increase, particularly in the medical sector. Designed for single use, disposable nitrile gloves ensure high levels of hygiene and optimal product functionality. Their cost-effectiveness and enhanced safety profile have fueled their demand. These gloves, known for their thinness compared to durable nitrile gloves, offer heightened sensitivity and protection against mild irritants and chemicals. This characteristic makes them ideal for delicate and intricate medical procedures, bolstering the overall value growth of the nitrile gloves market.
Asia Pacific Emerges as a High-Growth Region
While North American countries have traditionally dominated the nitrile gloves market, emerging economies in Asia Pacific are poised to exhibit higher growth potential. The regions appeal stems from factors such as cost-effective resources, a growing customer base, and a business-friendly environment. Industries like manufacturing, healthcare, pharmaceuticals, and chemicals have gained momentum in Asia Pacific, driven by urbanization and stable GDP growth. This growth has created ample opportunities for medical kits, products, and consumables, thus influencing the expansion of the nitrile gloves market.
Moreover, the aging population in Asia Pacific, coupled with a surge in cosmetic procedures, especially in fast-developing economies, is expected to boost the demand for nitrile gloves. India, for instance, witnessed over 524,000 cosmetic procedures in 2020 alone, with this number expected to rise in the coming years. This trend bodes well for nitrile glove manufacturers in the Asia Pacific region.
Competitive Landscape
Key players in the nitrile gloves market include Ansell Ltd., Superior Gloves, Ammex Corporation, Cardinal Health, and Dynarex Corporation, among others.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/nitrile-gloves-market
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This press release first seen on Brilad
COMTEX_442127401/2840/2023-10-19T11:46:24
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.