South East Asia Medical Gloves Market to Rise at 10.5% CAGR till 2027; Increasing Expenditure on Surgical Procedures in Southeast Asian Countries to Boost the Market

The South East Asia medical gloves market size is projected to reach USD 373.7 million by 2027 on account of the rising number of surgical procedures performed in the region, shares Fortune Business Insights™ in its report, titled “South East Asia Medical Gloves Market Size, Share & COVID-19 Impact Analysis, By Application (Surgical and Examination); By Material {Surgical (Latex and Synthetic) and Examination (Latex and Synthetic)}; By Category {Surgical (Powdered and Powder-free) and Examination (Powdered and Powder-free)} By End User {Surgical (Hospitals & Clinics, Diagnostic and Pathology Labs, Dental Clinics, and Others) and Examination (Hospitals & Clinics, Diagnostic and Pathology Labs, Dental Clinics, and Others)} and Country Forecast, 2020-2027”. As per the report findings, the market value stood at USD 109.76 million in 2019 and the market is expected to register a CAGR of 10.5% from 2020 to 2027.

The COVID-19 pandemic has proved to be a boon for the South East Asia medical gloves market growth due to the skyrocketing demand for disposable medical gloves in the region to battle the increasing number of coronavirus cases in the region. Glove manufacturers across the region have been ramping up their production capacities to meet the soaring demand for medical gloves and have recorded staggering sales revenues in 2020.

Glove Manufacturers in Malaysia to Increase Production amid COVID-19

In March 2020, the Malaysian Rubber Glove Manufacturers Association (Margma) announced that glove makers across the country will ramp up their production to meet the escalating demand for medical gloves in the country due to the coronavirus pandemic. The Margma expressed its hopes that the government will allow smooth movement of essential medical equipment and clothing within and outside the country, despite having placed restrictions on the movement of people and materials. With Malaysia being the top producer of natural and synthetic gloves, the association envisages glove the country to play a critical role in the fight against the pandemic. The Margma also stated that Malaysia will export 225 billion or more rubber medical gloves, depending on the intensity of the pandemic.

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Increasing Preference for Synthetic Nitrile Gloves to Fuel Growth

Synthetic nitrile gloves offer a host of advantages compared to the traditional latex gloves. For example, nitrile gloves provide strong resistance to punctures, making them ideal for healthcare workers who are frequently exposed to blood-borne pathogens and different types of contaminants. Furthermore, these gloves are made from synthetic rubber and do not contain natural latex and thus can be worn by those having latex allergies. In addition, nitrile gloves are designed to fit the shape of the hand, giving them a definite edge over their latex counterparts. On the flip side, these gloves are less elastic and more expensive than latex gloves. Moreover, since they are made from synthetic materials, nitrile gloves are non-biodegradable. However, the general perception is that the benefits of these gloves outweigh their costs and as a result, the adoption of synthetic nitrile gloves is steadily expanding.

Investments in Research by Oriented towards Innovation to be an Emergent Feature

Targeted investments in research & development activities by key players are emerging as a defining feature in this market. Companies are actively collaborating with government bodies, academic institutions, and fellow competitors to create new sustainable materials for medical gloves and develop new technologies to bring higher efficiency in glove manufacturing. The COVID-19 pandemic has provided an additional impetus for players to bolster their innovation capabilities and deepen their market footprint.

Industry Development:

• August 2019: Top Glove Corporation awarded its recently-launched Top Glove Industrial Collaboration Grant to University Teknologi Malaysia. The award is intended to boost research to augment the potential of the glove industry.

List of Key Players Covered in the South East Asia Medical Gloves Market Report:

• Innovative Gloves (Hatyai, Thailand)
• Sterimed Group (New Delhi, India)
• Indoplas Phillipines Incorporated (Metro Manila, Philippines)
• Sri Trang Agro-Industry PLC (Hatyai, Thailand)
• Cardinal Health (Ohio, United States)
• Hartalega Holdings Bhd (Kuala Lumpur, Malaysia)
• Ansell Ltd (Richmond, Australia)
• Safe Gloves (Suratthani, Thailand)
• Hi Care Thai Company Ltd. (Hatyai, Thailand)
• PT Universal Gloves (Deli Serdang, Indonesia)
• Supermax Corporation Berhad (Selangor, Malaysia)
• Kossan Rubber Industries Bhd (Selangor, Malaysia)
• Mölnlycke Health Care AB (Gothenburg, Sweden)
• Top Glove Corporation Bhd (Shah Alam, Malaysia)

Further Report Findings:

• The hospitals & clinics segment led the market in 2019 with a share of 45.5% as these health facilities routinely provide efficient medical care and regularly perform surgical procedures.
• Indonesia is estimated to dominate the South East Asia medical gloves market share during the forecast period owing to the increasing prevalence of chronic diseases in the country. In 2019, the country’s market size stood at USD 18.14 million.

Table of Segmentation