Global Nitrile Gloves Market to Register a Robust Growth Rate During the Forecas

Posted by VISHAL PAHURKAR on October 5th, 2021

The Nitrile Gloves Market will witness a CAGR of 24%, reaching US$ 26.7 Billion between 2020 to 2030. With medical IoT implying the use of wearable monitors, devices, and various integrated applications regarding healthcare needs, the healthcare vertical is bound to scale new-fangled heights in the upcoming period. This is what the healthcare vertical would all be in the next 10 years.

The growing pandemic of community infections owing to the emergence of new pathogens is expected to increase the demand for nitrile gloves across the world. The need to quell community and hospital-acquired infections is expected to drive the growth of the global nitrile gloves market.

Key product manufacturers operating in the market offer a wide range of products, such as disposable and reusable nitrile gloves. Owing to the non-availability of treatment for new pathogen infections and significant lag phase between the emergence of new pathogens and development of effective treatment and vaccines, there has been increasing need for nitrile gloves as a preventive measure.

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Companies covered in Nitrile Gloves Market Report

• Cardinal Health
• Kimberly Clark Corporation
• Top Glove Corporation Berhad
• Dynarex Corporation
• Ansell Limited
• Adventa Berhad
• Rubberex Corporation
• 3M Company
• Kossan Rubber Industry Ltd.
• Hartalega Holdings Berhad
• Supermax Corporation Berhad
• Medline Industries, Inc.
• B. Braun Melsungen AG

Persistence Market Research predicts that the global nitrile gloves market will exhibit an impressive CAGR of 24% during the forecast period (2020–2030), to be valued at US$ 26.7 Bn by 2030-end.

Key Takeaways from Nitrile Gloves Market Study

• By product type, powder-free gloves are expected to gain traction in the global nitrile gloves market during the forecast period.
• Owing to the use of powder-free gloves for the prevention of primary infections and allergic side-effects, and to perform surgical procedures, the powder-free segment is the most dominating product type in North America and Europe nitrile gloves markets.
• In terms of usage, disposable gloves are expected to gain more than 1/3 share in the nitrile gloves market share by 2030.
• By sterility, sterile gloves are expected to hold more than 1/3 revenue share in the global nitrile gloves market by 2030, owing to high standard regulatory compliance requirements for medical nitrile gloves.
• Under the end user segmentation, hospitals and ambulatory surgical centers segments are expected to collectively gain more than 2/3 market share in the nitrile gloves market by 2030.
• North America is the highest revenue generating market by region, due to the high rate of COVID-19 pathogenic infections and 10X increase in the average selling prices of nitrile gloves. Europe is expected to offer lucrative opportunities, owing to higher incidence of hospital-acquired infections and increasing volume of innovative surgical procedures.

“Disruptive unmet demand for medical gloves with 10X rise of average selling price, and WHO pushing for effective COVID-19 prevention, are expected to propel the growth of the global nitrile gloves market,” says a PMR analyst.

Accelerated Expansion & Acquisition by Leading Industry Players to Meet Unmet Demand in Nitrile Gloves Market

Leading manufacturers in the global nitrile gloves market are extensively focusing on the expansion of their manufacturing capabilities due to current disruptive demand. Governments are actively encouraging local manufacturers to prioritize emergency demand, specifically for public hospitals and healthcare setups.