The global surgical gloves market size is expected to reach USD 3,160.3 million by 2030, expanding at 5.8% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The increase in people with chronic and long-term diseases is expected to remain a primary driver for growth. For instance, the U.S. department of health & human services reports that the main causes of disability and death in the country are chronic diseases including diabetes, cancer, and heart disease. They also account for the majority of the USD 4.1 trillion in yearly health care expenses for the country, which stimulates demand for surgical gloves.
Growing awareness about the safety, security, and health measures related to the treatment of patients and emergency response incidents is expected to boost the demand for surgical gloves in the medical sector. For instance, the global patient safety action plan offers a framework for nations to create their own national patient safety action plans and to coordinate already-existing strategic instruments for patient safety improvement, thereby promising market expansion. In addition, the pandemic's global spread has increased the need for surgical gloves, particularly in the medical field, to stop further infection transmission among individuals.
It is anticipated that rising healthcare spending in several nations, including the U.S., France, Germany, and Italy, will positively affect the demand for surgical gloves over the forecast period. To prevent the spread of disease-causing microorganisms between patients and medical workers, surgical gloves are frequently used by healthcare providers during procedures. Estimates from the Organization for Economic Co-operation and Development (OECD) point to an average increase in health spending of 5% in 2020, which is primarily driven by the exceptionally high growth in government and mandatory spending (+8.1%) in response to the necessity to combat the pandemic. Furthermore, according to estimates from the OECD, health spending grew by almost 6% in 2021. These aforementioned factors will drive the demand for the surgical gloves industry in the coming years.
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According to the U.S. Department of Health and Human Services, at any point in time, 1 out of 25 hospitalized patients in the U.S. are affected by Healthcare-associated infections (HAIs). These infections are one of the major causes of mortality and morbidity in the U.S. and account for a substantial escalation in healthcare costs every year. These aforementioned factors will drive the demand for the surgical gloves industry. Moreover, the presence of stringent regulations related to surgical gloves will further drive market expansion. For instance, the CDC advises against using multiple gloves while treating COVID-19 individuals or patients in general.
Surgical gloves operate as a barrier, shielding healthcare professionals from infectious illnesses. While doing medical examinations or surgeries, these gloves help shield doctors and other healthcare professionals from cross-contamination. Along with the patients, surgeons, patients, and other professionals present during the procedure, all run the danger of contracting an infection. Healthcare professionals who examine patients with contagious disorders must practice good cleanliness to protect their health.
To cater to the increasing demand for surgical gloves in the medical and healthcare sectors, companies are expanding their businesses through product developments, mergers, acquisitions, and geographic expansion strategies. For instance, in March 2023, Ansell Ltd constructed a factory in India with an initial expenditure of USD 20.0 million to manufacture surgical gloves. Furthermore, the factory will use 100% renewable energy and completely recycle its wastewater.
Surgical Gloves Market Report Highlights
List of Key Players in the Surgical Gloves Market
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