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DUBLIN, May 16, 2022 /PRNewswire/ — The “Medical Gloves – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Medical Gloves Market to Reach US$29.8 Billion by the Year 2026
Amid the COVID-19 crisis, the global market for Medical Gloves estimated at US$21.8 Billion in the year 2022, is projected to reach a revised size of US$29.8 Billion by 2026, growing at a CAGR of 13.2% over the analysis period.
Although a commodity, the criticality of medical gloves continues to rise in wake of growing spread of infectious diseases, increasing incidence of hospital-acquired infections, and growing awareness on safety. In an era where infectious diseases such as the ongoing COVID-19 pandemic, AIDS, SARS, Dengue, Ebola and Zika elude medical defenses and treatment, the need for superior quality and highly functional protective gloves is more pronounced than ever in endeavors to prevent spread of diseases in hospitals.
The need and demand for disposable types of medical gloves surged in the wake of growing nosocomial or acquired hospital infections over the years. The technology behind medical gloves has grown considerably over the years. Persistent increase in incidence of infectious and chronic diseases, rising concerns over personal safety and sanitation and strict regulations in place pertinent to the use of personal protective equipment are fueling demand for medical gloves. Also driving growth is the development of healthcare infrastructure in developing nations and the increase in number of hospitals and other care facilities.
Examination Gloves, one of the segments analyzed in the report, is projected to grow at a 14% CAGR to reach US$26.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Surgical Gloves segment is readjusted to a revised 9.7% CAGR for the next 7-year period.
This segment currently accounts for a 20.7% share of the global Medical Gloves market. Examination gloves are widely used due to their extensive use by medical practitioners during patient examinations. As the number of infectious diseases continue to increase around the world, the demand for examination gloves is on the rise.
In the coming years, the growing need for early detection and diagnosis of diseases and the steady rise in routine diagnostic tests will spur demand for examination gloves. Surgical gloves, used while performing surgical procedures, are witnessing growing demand led by the rise in surgeries in both developed and developing regions. Growing prevalence of chronic diseases and other medical conditions that contribute to the need for surgical interventions is giving impetus to the market.
The US Market is Estimated at $6.9 Billion in 2022, While China is Forecast to Reach $6 Billion by 2026
The Medical Gloves market in the US is estimated at US$6.9 Billion in the year 2022. The country currently accounts for a 31.7% share in the global…
Full story available on Benzinga.com
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