This Examination Gloves market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Examination Gloves market.
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.
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.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
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 U.S. 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.
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 U.S. 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.
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Report Highlights: Global examination glovesMarket
- An in-depth overview of parent market, covering PPE markets, including the examination gloves market
- An overview of evolving market dynamics in the examination gloves industry
- Detailed segmentation of examination gloves market
- Historical, current, and prospective examination of market size in terms of value and volume
- recent developments and influential trends in examination gloves
- Opportunity assessment of examination gloves market
- Competitive landscape analysis of examination gloves marketplace
- Key player developments in recent times to treat COVID-19 patients
- Niche and potential segments in examination gloves market that reflect promising immediate opportunities
- A neutral perspective on the entire market performance
- Must-have insights for existing and potential examination gloves market players
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What will you discover from Examination Gloves Market report?
- The current and future market size, covering each aspect and nuanced trends across key national and geographic markets
- An overview of the market report, providing an imperative visual of the varied market subdivisions and overall forecast statistics in terms of value and volume
- Extensive database and key dynamics elevating the market with varied verticals associated
- Underlying Examination Gloves Market forces that are compelling consumers or businesses to purchase the product
- How novel technologies and consumer-centric innovations will create new value-adding opportunities for companies active in the Examination Gloves Market
- What will be environment and regulatory impacts on the market over the next decade
Which framework has been used to develop the Examination Gloves Market report?
- Investment Feasibility Matrix - It shows returns on investment, level of competition, success rate of investment, and potential risks associated with the market. The analysis shows that the competition is high in the established market, while the returns for short-term investment are also taken into consideration
- Relative Maturity Mapping – The relative maturity is measured according to three growth phases (growth, maturity, decline)
- Relative PLC (Product Life Cycle) – Analysis of the emergence of prominent players and competitive test prices which are driving factors behind every market. (expected market behavior, observed market behavior, expected market performance, observed market performance)