PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1484649
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1484649
Key Highlights
The medical glove market generated revenue of USD 7,799.5 million in 2023, which is expected to grow at a CAGR of 7.4% during the forecast period (2024–2030), to reach USD 12,601.2 million by 2030. This is attributed to the increasing healthcare spending globally to ensure proper infection control among workers and patients.
Rising Threat of Contagious Diseases Drives the MarketThe outbreak of the COVID-19 pandemic was the major thriving force involved in upscaling the industry. This phase led to an unprecedented high surge in the demand for medical gloves, especially disposable gloves. Outbreaks of many new diseases such as SARS-CoV-2, severe acute syndrome, Zika, and Middle East syndrome have generated a huge demand for medical gloves. The sudden surge of these diseases globally has forced medical authorities to take extensive measures to curb the spread of diseases. Furthermore, manufacturers have been producing more and more personal protection equipment to meet the rising needs in the medical sector. In order to strive for the scale of production, they are adopting advanced technologies and increasingly investing in this sector.