Demand for environmentally friendly biodegradable surgical gloves unlocks new opportunities for market participants, says Frost & Sullivan
SAN ANTONIO, June 15, 2022 /PRNewswire/ -- The increase in healthcare budgets and rise in the number of surgical procedures propel global surgical gloves market growth, finds Frost & Sullivan's recent analysis, Global Surgical Gloves Growth Opportunities. Implementing strict regulatory norms favoring surgical gloves across regions further inflates their demand. Due to this, the market for global surgical gloves is expected to reach $3.43 billion by 2026 from $2.24 billion in 2021, a boost at a compound annual growth rate (CAGR) of 8.9%.
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"As consumers become more environment-conscious and governments impose stringent laws against single-use plastic, the demand for environment-friendly biodegradable gloves is expected to increase," said Anjan Kumar Roy, Chemicals, Materials & Nutrition Industry Analyst at Frost & Sullivan. "This encourages manufacturers to focus on sourcing sustainable alternatives that can improve the recyclability of surgical gloves."
Roy added: "Since powdered latex can cause serious allergic reactions, businesses are switching to synthetic gloves. This trend will strengthen the synthetic gloves segment, which is expected to occupy 58.3% of the global surgical gloves market by 2026."
The increasing demand for surgical gloves due to rising healthcare spending and strict regulations across different regions-the rest of the world (RoW), North America, and Europe-presents the following growth prospects for market participants:
- Manufacturers must focus on increasing investments in eco-friendly initiatives and source sustainable raw materials for enhanced product acceptance.
- Surgical glove manufacturers (primarily brand owners) should diversify their supplier base to mitigate supply-chain and price risks.
- In response to customer expectations of enhanced comfort, sensitivity, and elasticity, companies should invest in new technologies or new products with features similar to latex gloves but without the inherent risk of allergies.
Global Surgical Gloves Growth Opportunities is the latest addition to Frost & Sullivan's Chemicals, Materials & Nutrition research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
For over six decades, Frost & Sullivan has helped build sustainable growth strategies for Fortune 1000 companies, governments, and investors. We apply actionable insights to navigate economic changes, identify disruptive technologies, and formulate new business models to create a stream of innovative growth opportunities that drive future success. Contact us: Start the discussion.
Global Surgical Gloves Growth Opportunities
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Contact:
Nicole Ryder
Corporate Communications
E: Nicole.Ryder@frost.com
https://www.frost.com/
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