Asia Pacific Medical Gloves Market size crossed USD 4.5 billion in 2021 and is expected to witness 24% CAGR between 2022 and 2028.
The deadly coronavirus (COVID-19) pandemic has greatly changed the perspective toward infection-related risks since 2020. Previously used mostly by healthcare workers, personal protective devices (PPDs) are becoming a commonly adopted gear amongst the general population. The growing awareness of safety among healthcare providers and patients to inhibit infections through medical procedures is likely to influence the industry trends.
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The thriving medical tourism sector in the region attracts patients from across the globe for low-cost and high-quality services. With the growing number of medical tourists, combined with the rising demand for diagnostic tests.
Impact of COVID-19 outbreak on Asia Pacific medical gloves market outlook
The sudden outbreak of the global COVID-19 pandemic in Asia Pacific led to a substantial increase in demand for medical gloves to comply with strict rules on the use of personal protective equipment (PPE) to prevent the cross-contamination of the disease among healthcare workers.
To accommodate the rising number of infected patients, there was a vast expansion of healthcare facilities in the region. Diagnostic and clinical laboratories improved their business capacities to better serve detection and research on drug development for treating coronavirus infection. Although the spike in the cost of production is a major concern for manufacturers, they are likely to expand their production capacities for accommodating changing customer preferences.
The powder-free form segment in the Asia Pacific medical gloves market will observe around 23% growth rate during the forecast period, owing to the use of latex gloves, there has been a growing incidence of hypersensitive or allergic reactions in healthcare workers. Irritant contact dermatitis or skin damage on the hands are some of the commonly reported symptoms. As a result, healthcare professionals are increasingly adopting powder-free gloves for medical and surgical purposes. Unlike powdered products, powder-free gloves are termed food-safe, and resistant to oil, chemicals, and water, due to which they are used in the healthcare and beauty sector.
Sterile products will see increased uptake as they protect patients and healthcare providers from bacterial infection, contamination, and other pathogens while performing diagnostic tests.
The COVID-19 outbreak has led to the expansion of production and direct sales of these gloves. The Centers for Disease Control and Prevention (CDC) and the European Center for Disease Prevention and Control (ECDC) have recently published regulatory compliances. As part of standard precautions to reduce the risk of contamination, these guidelines advise the use of gloves in healthcare facilities as well as in the community. Growing number of surgical procedures across the globe will drive sterile gloves adoption in the coming years.
There is an increasing demand for medical gloves in hospitals to protect patients and healthcare professionals from spreading germs. Rising incidence of nosocomial infections in hospitals has upscaled the adoption of medical gloves among all healthcare workers.
One of the essential factors boosting product sales is the use of medical gloves in hospital settings to curb the incidence of HAI. These infections comprise of central line-associated bloodstream infections (CLABSI), catheter-associated infections, and surgical site infections (SSI), among others.
Some of the leading companies involved in the Asia Pacific medical gloves market include Supermax Corporation Berhad, Top Glove Corporation Berhad, Semperit AG Holding, Ansell Limited, Cardinal Health, Inc., SHIELD Scientific, and Medline Industries, Inc.
In order to reach market demand-supply equilibrium, these companies opt for a host of business strategies, including partnerships, new product launches, collaborations, and so on. Oversupply of these products is likely to emerge as a key challenge for industry participants. With environmental issues gaining substantial attention, a higher focus toward a circular economy will encourage more manufacturers to produce naturally sourced products in the global cleanroom gloves market.