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The South East Asia medical gloves market size was USD 109.76 million in 2019 and is projected to reach USD 373.7 million by 2027, exhibiting a CAGR of 10.5% during the forecast period.
Prevention of transmissible infections in clinical practice settings is becoming a high priority these days. The appropriate use and selection of gloves are one of the key components in infection prevention strategies. Favorable healthcare coverage plans by governments to ensure healthcare to all citizens, growing awareness about the prevention of contamination between patients and caregivers, rising use of gloves per person in operation theaters, and double-gloving are some of the leading factors driving the growth of the market. Moreover, emerging health threats such as the spread of infectious diseases and the subsequent surge in the demand for protective medical clothing have resulted in strong revenue growth for leading players in 2020.
Tremendous Growth in Medical Gloves Driven by the COVID-19 Pandemic
COVID-19 pandemic is a critical concern for developing countries. With an increasing number of COVID-19 cases in Southeast Asian countries, the bulk demand for gloves, masks, and sanitizers has skyrocketed. Therefore, to meet this surge in demand, the key players are increasing their production capacities. The leading player, Top Glove Corporation, is expanding its operations to ensure it is well-positioned to protect and save lives, particularly in view of the ongoing outbreak of COVID-19. The company has decided to ramp up its production capacity close to 100% to meet the surge in demand. It also recorded high revenue growth in the first half of 2020 due to the increased disposable medical glove prices and the heightened consumption of these gloves. These factors have significantly bolstered the growth of the market in 2020.
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Definitive Shift towards Powder-free Gloves to Fuel Revenue Growth
There are several health risks associated with the use of powdered gloves, which have led to the declining usage of these gloves. The powder draws the moisture from the skin, abrades the epithelium, and increases the pH of the skin. Cracked, dry, and softened skin is susceptible to inflammations and eczema of the hands. For instance, according to an article published by the National Center of Biotechnology Information (NCBI), in 2014, the prevalence of latex powder allergies among healthcare workers in Thailand was 13.3%. Hence, a shift towards powder-free gloves has been witnessed due to their advantages, such as exposure to fewer chemicals and endotoxins, which makes them less allergenic and more tolerable to the skin.
Growing Prevalence of Chronic Diseases to Drive the Demand for Medical Gloves
Chronic diseases are among the most prevalent and costly health conditions globally. These diseases, such as cancer, diabetes, hypertension, stroke, heart disease, respiratory diseases, arthritis, obesity, and oral diseases, can lead to long-term hospitalization, surgical procedures, and even lifelong disability. Thus, there is an increased number of visits to healthcare facilities, leading to a high demand for medical gloves. For instance, according to a research article on the NCBI platform, in 2017, the prevalence of chronic diseases in Thailand, both in the community and among outpatients, was high between 4.6% and 17.5%.
Increasing Price Competition to Restrict Market Growth
Raw materials, primarily natural rubber and synthetic rubber, constitute almost half of the overall operating cost of gloves. The production of rubber gloves is highly dependent on the supply of latex rubber, which is affected by various factors such as rain, natural calamities, limited countries in the world producing the latex, pricing pressures, etc. Thus, the prices of the medical gloves fluctuates based on all of the above factors, making them highly price sensitive. Moreover, the growing number of players developing low-cost gloves has created pricing competition between market companies, restricting their revenue share and growth rate.
Emerging Health Threats and Growing Awareness to Propel Examination Gloves Demand
The high revenue share of the examination gloves segment can be attributed to their growing usage by volume to combat infectious diseases such as the current COVID-19 contagion and increasing awareness about personal protection among healthcare providers. Due to the emergence of COVID-19, a sharp rise in the volume and Average Selling Prices (ASPs) of examination gloves resulted in increased revenue generation in 2020. This has impacted the CAGR of the segment. Favorable health insurance policies and growing visits to healthcare facilities by patients in Southeast Asia are expected to further boost the demand for examination gloves.
The surgical gloves segment will grow at a high rate due to the increasing number of surgical procedures and the high cost of synthetic surgical gloves.
Innovations in Synthetic Materials and High Demand for Nitrile Examination Gloves to Boost Synthetic Segment Growth
By material, the market is segmented into latex gloves and synthetic gloves, which have been studied separately for their surgical and examination applications by material type. The latex gloves segment held the dominating share of the market owing to their low cost, high tensile strength and grip, and ample availability of natural rubber latex raw material in the Southeast Asia region.
Synthetic nitrile gloves are being rapidly adopted in the healthcare industry due to the increasing prevalence of latex allergies and other benefits offered by nitrile gloves. Nitrile is a distinctive sort of polymer that provides superior chemical and tear resistance. It also reduces the risk of contact dermatitis that is caused due to the allergic reactions caused by natural rubber proteins. Nitrile gloves are considered the ideal choice when the allergy status of a patient or the user is not known. Moreover, the adoption of other synthetic gloves such as polyisoprene and neoprene and their growing use for surgical procedures will further boost the segment’s growth by 2027.
Allergic Reactions Caused by Powdered Gloves to Fuel Demand for Powder-free Gloves
Medical gloves are mostly made up of natural latex. The latex protein in the gloves leads to allergic reactions, resulting in dermatitis, itching, rashes, and other severe reactions among healthcare workers as well as patients coming in contact with these gloves. The powder used for easy donning accelerates the allergic symptoms. Increasing awareness about the side effects of using powdered gloves and a proactive ban on these gloves by governments are poised to drive the growth of the powder-free gloves segment during the forecast period. For example, in January 2018, the Philippines government announced a ban on the use of powdered gloves in the country.
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High Patient Volume at Hospitals & Clinics and Increasing Number of Surgical Procedures to Augment Demand for Gloves
In terms of end-user, the South East Asia medical gloves market has been segmented into hospitals & clinics, diagnostic laboratories, dental clinics, and others. These segments are studied separately for their surgical and examination applications. The hospitals and clinics segment accounted for the dominating share of the market due to the high preference given to hospitals and clinics for routine medical care as well as critical surgical procedures.
The dental clinics segment is poised to expand at an impressive pace owing to the increased spending on dental procedures and growing dental tourism in Southeast Asian countries.
The market size in Indonesia stood at USD 18.14 million in 2019. A huge population base, increasing prevalence of chronic diseases, growing spending on healthcare, expanding healthcare infrastructure, and growing awareness about the use of protective gloves to avoid the spread of infections are some of the prominent factors responsible for the leading position of Indonesia.
The market in the Philippines is projected to expand at the highest growth rate in terms of value owing to the ban on powdered medical gloves in the country. The country will now be using only powder-free gloves that are costlier than powdered gloves, which will drive revenue generation in the country.
Medical tourism in Thailand and Vietnam is anticipated to attract a high number of surgical procedures, leading to an escalated demand for surgical gloves in these countries during the forecast period.
Expansion of Product Capacities, Aggressive Market Penetration, and Innovative Solutions to be the Focus of Key Players
The South East Asia disposable medical gloves industry is highly consolidated, with a handful of players holding the major share. Strategic expansion of production capacities in countries such as Malaysia, Thailand, and Indonesia, where the raw material latex is present in abundance, increasing research and development spending to introduce novel products, and penetration in the emerging economies of the Asia Pacific region are some of the prominent strategic imperatives adopted by medical glove manufacturers in this market. For example, in February 2018, Ansell announced the launch of GAMMEX PI GLOVE-IN-GLOVE SYSTEM, the world’s first pre-donned double gloving system that helps promote safer operating rooms by enabling faster and easier double gloving.
An Infographic Representation of South East Asia Medical Gloves Market
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The South East Asia medical gloves market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, applications, material types, categories, and end-users. Besides this, the report offers insights into the current market trends and highlights key industry developments. The report provides an in-depth market analysis at the country level by segments and an elaborative overview of the production capacities of the companies under the market scope. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.
Value (USD million)
Fortune Business Insights says that the South East Asia medical gloves market size stood at USD 109.76 million in 2019 and is projected to reach USD 373.7 million by 2027.
In 2019, the market value stood at USD 109.76 million.
The market will exhibit steady growth at a CAGR of 10.5% during the forecast period (2020-2027).
The examination gloves segment is the leading segment in the market.
The increasing prevalence of chronic and infectious diseases, growing health and hygiene standards, and new product launches in the synthetic gloves category are the key factors driving the growth of the market.
Top Glove Corporation Bhd, Hartalega Holdings Bhd, Cardinal Health, Elite Surgical, Ansell Ltd, and Kossan Rubber Industries Bhd are the top players in the market.
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