The global Examination Gloves market is expected to witness a market value of US$ 7.91 Billion in 2023 and is expected to accumulate a market value of US$ 16.0 Billion by registering a CAGR of 7.3% in the forecast period 2023 to 2033. The market for Examination Gloves market registered a CAGR of 3.2% in the historical period 2018 to 2022. Factors such as the increase in the demand for examination gloves, to lowering the danger of virus transmission among healthcare professionals, are expected to fuel the growth of the Examination Gloves market over the analysis period.
As per Future Market Insights - market research and competitive intelligence provider, the global market value for Examination Gloves has been flourished. The use of double layer examination gloves, is one of the major factors that is anticipated to propel the sales of examination gloves during the forecast period. In addition, the rapid development in the demand for disposable examination gloves in the healthcare industry during virus outbreaks is another factor that is likely to fuel the market growth in the near future.
Additionally, the powder-free examination gloves are also expected to stimulate the growth of the examination gloves market in the coming time. The healthcare institutions have been inclining towards powder-free examination gloves, from latex gloves, as the powder-free gloves are less form-fitting after being chlorinated or coated with silicone, acrylic, or hydrogels. These gloves don’t leave behind, any residue, thus, these are best used in the medical industry. Hence, the increasing occurrences of allergies as well as side effects are expected to fuel the market growth.
Furthermore, the surge in the number of surgeries as well as infections globally, and rising awareness regarding health and safety are other major factors that are expected to create lucrative avenues for the market growth in the forthcoming years. In addition, factors including the benefits of latex gloves such as it avoids cross-contamination during examinations is likely to boost the demand for examination gloves market during the analysis period.
The key manufacturers of examination gloves have been developing sustainable products, and are coming up with technologically-advanced, as well as cost-effective products, which aid in boosting efficiency and profitability. Recently, the players have introduced examination gloves, that offer special benefits. The usage of new UV light and superior tactile crosslinking technology-based examination gloves, are anticipated to escalate the market growth in the near future. Moreover, the advent of biodegradable examination gloves is a major factor that will augment the market growth in the coming time.
On the regional end, the Examination Gloves market in North America is expected to account for the maximum share during the analysis period, owing to the factors such as an upsurge in healthcare expenditure, and an increase in the elderly population, as well as an increasing consciousness about infections among healthcare workers, that are acquired while performing medical duties fuels the market.
On the other hand, the Examination Gloves market in Asia Pacific is expected to hold a significant growth rate over the forecast period, attributed to factors such as rising industrialization, as well as increasing hygiene and safety standards across a variety of healthcare settings in developing nations such as India, China, and Japan.
Recent developments in the technology, mergers and acquisitions, and partnerships within the companies involved in the designing of Examination Gloves are expected to create lucrative opportunities for the market growth over the analysis period.
For instance, in September 2022, Ansell and Chemwatch, collaborated to increase public awareness of the risk and consequences of exposure to hazardous chemicals. Also, the partnership is centered on leveraging as well as sharing mutual chemical safety advice.
Subsequently, in August 2022, the Supermax Healthcare Canada announced a partnership with Minco Wholesale & Supply Inc. According to the agreement, Minco is expected to distribute the Canadian manufacturers' products, including rubber masks and gloves as well as non-woven cotton medical products in North America.
The COVID-19 virus which at present, has affected individuals from more than 185 countries has brought most of the major industrial sectors around the world to a standstill. However, while an array of industrial sectors continues to limit their production cycles, on the other hand, companies operating in the personal protective equipment (PPE) sphere are increasingly being pressured to ramp up production.
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WHO Urges Personal Protective Equipment Manufacturers to Ramp up Production Amidst Supply Crunch
The onset of COVID-19 is expected to put a great degree of burden on healthcare systems across the world. The safety of healthcare workers who work closely with potential and confirmed COVID-19 patients has come under the radar over the past couple of months due to which, new guidelines are being formulated by individual nations pertaining to the use of personal protective equipment (PPE) including face-shield, protective goggles, examination gloves, protective gowns, and more.
The demand for PPE such as examination gloves over the past two months has witnessed exponential growth. This abnormal surge in demand for PPE across the world has led to a severe shortage of examination gloves across hospitals, primary healthcare centers, quarantine centers, and more.
Although participants operating in the current examination gloves market are expected to increase the production of examination gloves to fulfill the demand for the same, they are challenged by the lockdown policies imposed by government bodies.
However, market players are likely to receive some respite over the coming days as the World Health Organization (WHO) has urged the governments of the major manufacturers and exporters of personal protective equipment to significantly increase production.
Shortages across Hospitals Worldwide - Companies Expected to Capitalize
The unforeseen global COVID-19 pandemic has led to a catastrophic shortage of examination gloves worldwide as nations continue to contain the lethal coronavirus in their own capacity. The abnormal growth for the demand for examination gloves has taken aback examination gloves manufacturers that are currently addressing major production challenges.
Malaysia is one of the leading manufacturers and exporters of examination gloves. The expansive lockdown imposed by the Malaysian government has led to a significant decline in the production of PPE as companies were compelled to shorten their staff.
The leading producer of examination gloves, Top Glove Corp. Bhd, recently revealed that the demand from the USA and Europe continues to outweigh the production capacity – inducing a significant amount of pressure on manufacturers.
Some of the leading manufacturers of examination gloves in Malaysia are coming together in their efforts to attain approval from the trade ministry to operate their production lines with the entire workforce. Most major companies operating in the current market landscape are expected to focus on finding novel ways to enhance their production volume and also attain the support from the local governing bodies to operate at full strength.
As governments across the world continue the pursuit of essential personal protective equipment including examination gloves, companies operating in the current examination gloves market are expected to capitalize on this situation by streamlining their production prowess by seeking support from the local governments.
Current trends in the examination gloves market suggest that even at full production capacity, the supply for PPE will remain lower than the demand. However, companies should focus on bridging the gap between the demand and supply in their efforts to combat the COVID-19 virus. Several examination gloves manufacturers, particularly in the Asia Pacific region, are running 24-hour shifts on the production floor to narrow the gap.
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Healthcare Worker Safety Remains Critical in Fight against COVID-19 - WHO
The World Health Organization continues to stress on the fact that safeguarding the healthcare workers will remain one of the major challenges in the fight against COVID-19. Some of the major factors that have disrupted the global supply of examination gloves over the past few weeks include misuse of products, hoarding, and panic buying among others.
The WHO stated that the shortage of PPE including examination gloves, masks, gowns, and more will lead to a surge in the number of ill-equipped healthcare workers and thus, affect the quality of patient care.
The WHO has raised alarm bells regarding the shortage of examination gloves and urged manufacturers and government bodies across the world to boost the overall manufacturing capacity by around 40% to meet the global demand. In addition, to ensure a secure and stable supply chain, the WHO has also requested the governments across the world to ease export restrictions and formulate effective strategies to prevent hoarding and speculation.
As per the WHO, at this stage of the pandemic and the upcoming months, nearly 89 million medical masks, 1.6 million goggles, and around 76 million examination gloves would be required each month - presenting manufacturers in the examination market abundant opportunities to stamp their authority. Another observable trend that has come can be highlighted is the remarkable surge in the prices of PPE since the COVID-19 outbreak.
While the prices of surgical masks have spurred by nearly six times, the costs of other personal protective care equipment including examination gloves have moved in an upward trajectory and likely to increase in the upcoming weeks due to the scale of demand and supply shortage.
Government bodies across the world are increasingly being pressured to offer incentives to manufacturers operating in the examination gloves market to boost production. Further, companies should also work in tandem with local authorities to streamline their distribution channels to tap into opportunities in different regions.
The USA Food and Drug Association is currently collaborating with examination gloves manufacturers to understand and address the myriad of challenges related to the supply of examination gloves. As the number of COVID-19 cases continues to increase at a steady pace worldwide, manufacturers should expect a rise in sales orders in the upcoming weeks.
The major players covered in Examination Gloves are
Ansell, Halyard Health, Sri Trang Group, Top Glove, Kossan Rubber, Bluesail, INTCO Medical, Cardinal Health, Molnlycke Health Care, Motex Group, Supermax and Other
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