January 25, 2022 11:00 AM ET |Source: BlueWeave Consulting and Research Pvt Ltd BlueWeave Consulting and Research Pvt Ltd
Delhi, Jan. 25, 2022 (GLOBE NEWSWIRE) -- India medical gloves market is growing at a high CAGR owing to the increasing prevalence of various infectious and chronic diseases and rising demand for diagnostic tests. Additionally, the rising demand for different surgical procedures, primarily due to flourishing medical tourism in the country, is also pushing the market towards growth….. Venom Steel Industrial Nitrile Gloves
A recent study, conducted by the strategic consulting and market research firm BlueWeave Consulting, revealed that the India medical gloves market is estimated to grow at a CAGR of 11.4% during the forecast period of 2022-2028. The growth of the India medical gloves market can be attributed to the increasing prevalence of various infectious and chronic diseases and the rising demand for diagnostic tests. Furthermore, the growing demand for different surgical procedures, primarily due to the flourishing medical tourism in the country, is also propelling the market forward. Furthermore, the sudden outbreaks of COVID-19 in India led to a substantial increase in demand for medical gloves in order to comply with strict limits on the use of personal protective equipment (PPE) to prevent the cross-contamination of coronavirus among doctors and frontline healthcare workers. Nevertheless, rising concerns regarding medical waste generated by disposable medical gloves may limit its market growth during the forecast period.
Rising Demand for Disposable Gloves Driving the India Medical Gloves Market
Based on usage, the India medical gloves market is segmented into disposable and reusable segments. Because disposable medical gloves can only be used once or a few times and must be disposed of immediately, they have the largest market share. This ensures that the gloves in use are free of contamination. The demand for disposable medical gloves witnessed a sharp surge during the COVID-19 outbreak across the country. However, the reusable medical glove segment is also growing at the fastest rate due to the increasing concern surrounding medical waste and its negative impact on the environment. Reusable medical gloves are thus, highly recommended with proper sanitization.
Surging Demand for Medical Gloves in Hospitals Propelling the Overall Market Growth
Based on end-users, the India medical gloves market is segmented into hospitals, clinics, ambulatory surgery centers, diagnostic centers, rehabilitation centers, and others. The hospital segment dominates the market because of the large number of patients approaching hospitals for diagnosis of various diseases and treatment purposes. In addition, the rising number of COVID-19 patients requiring inpatient treatment and the significant danger of the cross-contamination of the virus increased the demand for medical gloves in hospitals. Apart from hospitals, diagnostic centers are also anticipated to emerge as the major end-user of medical gloves due to the establishment of coronavirus testing centers in different parts of the country.
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The Powder-Free Segment Holds the Largest Market Share in The Form Segment of India’s Medical Gloves Market
Based on forms, the India medical gloves market is grouped into powdered and powder-free segments. The powder-free segment holds the largest market share as they are considered stronger compared to the powdered ones. Powdered gloves containing corn starch carry the risk of getting into tissues, mainly during surgeries, affecting the healing process. Furthermore, powder-free medical gloves are skin-friendly and do not cause allergies caused by latex proteins. As a result, medical professionals most prominently use powdered-free gloves, which drives the segment's growth.
North India Emerging As A Potential Market For Medical Gloves During the Forecast Period
Geographically, the India medical gloves market is segmented into North India, South India, East India, and West India. South India dominated the India medical gloves market in 2021. Following South India, Western India also covers a substantial market share. Maharashtra tops the list of highest COVID-19 affected cases in India, with an aggregate of around 66.6 lakh cases registered in December 2021. As a result, the demand for medical gloves spiked, driving the overall market growth of the medical gloves market in West India. However, North India is also emerging as a potential market for medical gloves with increasing investment in the region's public healthcare system.
The Vinyl or Polyvinyl Chloride (PVC) Segment Holds the Largest Market Share in The Raw Material Segment of India’s Medical Gloves Market
Based on raw materials, India medical gloves market is segmented into latex, nitrile rubber, vinyl rubber, poly-isoprene, and others. The vinyl or polyvinyl chloride (PVC) material accounts for the majority of the market share as it is inexpensive and does not cause skin allergies. In addition, vinyl rubber gloves are widely used in both medical and non-medical industries and expected to have the greatest CAGR throughout the forecast period. Medical gloves are perfect for use in agricultural, chemical treatment, cleaning, oil refinement, and cleaning maintenance. These gloves are more chemical-resistant and durable than natural rubber gloves. The factors mentioned above are expected to drive the demand for medical gloves during the forecast period.
For more info please visit press release of India medical gloves market: https://www.blueweaveconsulting.com/press-release/india-medical-gloves-market-registers-unwavering-growth-projected-to-grow-at-a-cagr-of-11-4-by-2028
Impact of COVID-19 on India Medical Gloves Market
The sudden outbreak of the COVID-19 pandemic in the country initially negatively impacted the India medical gloves market. The ongoing COVID-19 scenario and the associated health risks have increased demand for medical gloves among both the general public and healthcare professionals, resulting in market growth.
Healthcare facilities faced a severe shortage of medical-grade gloves as the demand for gloves among frontline healthcare workers exceeded the supply, resulting in a huge demand and supply gap. However, the manufacturers quickly recovered from this slump as they expanded their manufacturing capacities to meet the growing demand for medical gloves in the domestic market. Additionally, government investments and private donations of medical gloves to the healthcare system also contributed to India's medical gloves market growth. Moreover, the increased use of disposable gloves by various end-user industries such as beauty and skincare, food and beverage, and others will boost the market in the coming years.
India Medical Gloves Market: Competitive Landscape
The leading players in the India medical gloves market are Kanam Latex Industries Pvt. Ltd., RFB Latex Limited, Safeshield India Rubber Products Pvt. Ltd., Sara Healthcare Pvt. Ltd., Amazing Rubber Products Pvt. Ltd., JIT & JIT Gloves., Amigo Surgi-care Pvt. Ltd., Amkay Products Pvt. Ltd., Nulife, Primus Gloves Pvt. Ltd., and other prominent players.
The market is highly fragmented due to the presence of multiple industry participants. In addition, new entrants are also gaining significant traction since the COVID-19 pandemic due to the dire shortage of medical gloves. The market players are significantly investing in expanding their production capacities to meet the surging domestic demand for medical gloves. Due to the rising competition, they are also focusing on improving their distribution channel and resorting to online platforms to increase their product penetration. Furthermore, the adoption of competitive strategies, such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in the market.
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