Despite the statement of lower ASP after the 1H2021 made by Jeffrey Ng from JP Morgan.
Looking at the current news of vaccines not being so effective or prone to allergy reaction that could cause deaths in some cases.
Research shows that medical gloves market is expected to grow at a CAGR of over 13% during the period 2021-2026.
The following factors are likely to contribute to the growth of the disposable gloves market during the forecast period:
- Outbreak of Pandemic Diseases
- Preference for Nitrile Gloves
- Growth in Cleanroom Technology
- Increased Awareness toward Personal Hygiene (Not so much)
The demand for medical gloves has surged up rapidly in countries such as the UK, China, the US, India, Iran, and Italy due to the outbreak of the COVID-19 pandemic.
North America alone is expected to continue its dominance during the forecast period, anticipating an incremental growth of over 37 billion units.
North America expecting to observe the estimated sale of 218 billion units by 2026. The medical segment accounted for the largest revenue in 2020 and is expected to reach over $24 billion by 2026.
The disease has increased the importance of hygiene among individuals. The market landscape of disposable gloves, which are fast turning into retail commodities, is expected to be accelerated.
Asia Pacific region is expected to grow at a Compound Annual Growth Rate (CAGR) of over 18% in terms of revenue.
The growth in medical tourism in countries such as Malaysia, Thailand, India, and Singapore can substantially lead to the growth of surgical supplies.
Further, the rise in the aging population, chronic illness, expansion of healthcare facilities is driving medical gloves demand.
Global market for Medical Gloves is projected to reach US$70 billion by 2027 according to another research.
REFERENCE:
https://www.researchandmarkets.com/reports/5214690/rubber-gloves-market-global-outlook-and#pos-3
https://www.researchandmarkets.com/reports/338820/medical_gloves_global_market_trajectory_and#relb0-5214690
