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Latex Medical Disposables Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • ID: 4997484
  • Report
  • April 2021
  • Region: Global
  • 122 pages
  • Mordor Intelligence

FEATURED COMPANIES

  • ANSELL LTD
  • B. Braun Melsungen AG
  • Cardinal Health
  • Clean Q Grip
  • Fisher Scientific
  • Hartalega Holdings Berhad
The latex medical disposables market is projected to register a CAGR of 5.1% during the forecast period.

The COVID-19 pandemic has been continuing to transform the growth of various markets, the immediate impact of the outbreak is varied. While a few industries registered a drop in demand, numerous other markets may continue to remain unscathed and show promising growth opportunities. The market for latex medical disposable is witnessing a strong growth due to the COVID-19 outbreak. In addition, the demand for medical disposables products has increased rapidly across the world. However, initially supply chain issues were also being observed. The supply availability has been hampered by a number of issues, including export and travel restrictions by some producing countries, and lockdowns that have forced suppliers to (temporarily) shut down. However, in order to meet the increasing demand, the manufacturers have increased their production to supply the essentials. In March 2020, Top Glove Corporation increased the production and sales of medical gloves. In additon in September 2020 the two business partners Mr.Tanatdaj Sillapavitsawakul and Mr.Rujipart Tanapattarachaitat have launched QB Medical to supply several types of medical gloves.

Some of the factors driving the latex medical disposables market are increasing prevalence of lifestyle-associated and other chronic diseases and growing number of baby boomers. As per the World Health Organization 2018, chronic disorder is the leading causes of death and disability and leading drivers of the nation’s USD 3.5 trillion in annual health care costs. In addition As per the statistics from the World Health Organisation 2018, there was an estimated number of 18.1 million new cancer cases in 2018 across the world and this number is expected to increase, over the forecast period. This factor is expected to augment the demand for related surgeries. Growing geriatric population and increasing awareness of the patient pool regarding the infection prevention control norms are some of the major factors that are contributing to the growth of the latex medical disposables space.

​Moreover, as per a 2020 report by the American Hospital Association (AHA), in 2018, hospitals recorded a total of 879.6 million outpatient visits.​ These numbers continuously increased over the years, as per the AHA reports. For instance, as per the 2018 report by AHA, there were around 439.86 million outpatient visits in community hospitals in 1996, which increased from nearly 599.55 million by 2006 to 747.09 million in 2016.

Limiting the risk of infection and cross-contamination is one of the primary aims of healthcare professionals and governments worldwide. Increasing volume of patient admissions in hospitals coupled with growing incidences of healthcare associated infections is bolstering the market growth. As per the Massachusetts Health & Hospital Association 2018, healthcare associated infection claims around 7 million people every year, thereby fueling the growth of the market.

Furthermore, government-enforced mandatory guidelines to improve the quality of patient care are expected to boost the penetration of latex medical disposables in near future. Most of the medical disposable product manufacturers are using high-quality latex disposables, which are driven by sustainable material, process and design innovation, resulting in effective product engineering and design.

However, FDA norms to improve design and safety of reusable medical products may hamper business growth in the future.

Key Market Trends

Latex Medical Gloves for varied applications is expected to capture significant revenue share over the forecast period

The COVID-19 pandemic has affected the supply chain of several pharmaceutical products. The restrictions on pharmaceutical manufacturing and export had affected many products sold in some countries, such as the United States, Europe, and other countries. Some of the medical disposables are manufactured in-house at the pharma companies, while other medical disposables of the company are manufactured with facilities in other countries, such as contract manufacturing services, which further impacted the supply chain of products. However, the demand for latex medical gloves has risen up in the COVID-pandemic due to an increase in the patient population. In April 2020, 3M India announced that it raised the production of medical-grade equipment in the country in the range of 35% to 40%. In addition Additionally, at present, a high percentage of medical admissions in hospitals across the world are mainly for chronic conditions and COVID-19 issues which has further increased the demand for medical gloves.

Moreover, the increased application of disposable latex medical gloves owing to their advantages is the key factor driving the segment growth. Disposable latex gloves have proved to be very useful in the medical sector on account of their low cost, hygiene, and safety. Physicians examining patients suffering from contagious diseases need to maintain hygiene for personal safety. Disposable gloves act as a shield which protects them from contagious infection.

Gloves are essential equipment in a hospital setting, as they obstruct cross-contamination between the potentially infected patients and caregivers and help prevent the spread of infection. The risisng number of hospital visits are also increasing the demand for latex medical gloves. For instance in England, the number of visits to the accident and emergency department (A&E) increased continuously over the years. As per the 2020 report by the National Health Service, the attendance rose from 59,396 in 2013 to 70,230 in 2019.

Moreover, some chemotherapy drugs are dangerous to handle with bare hands. Trends have shown that medical professionals have been implementing double latex gloving to reduce the risk of failure on account of wear and tear. In addition, technological advancement has resulted in supporting utilities made up of a high-quality polymer.Such factors are expected to boost the segment demand over the forecast period.

The North America Dominates the Market and is Expected to Continue the Same during the Forecast Period

The United States is the most COVID-affected country across the world. The supply chain of products was highly impacted in this country. In addition, the United States is severely affected by the recent spread of COVID-19. As per the CDC, on April 5, 2021, there were 30,706,128 total cases in the United States, with 555,001 deaths, due to the pandemic.​ Consequently, the government and regulatory bodies are taking measures to prevent the further spread of the disease. Many companies are also increasing their production to meet the high demand due to the sudden outbreak. For instance, according to the American health department officials 2020, the current demand for medical gloves is estimated to be about 8.7 billion a month, or 104 billion gloves per year, due to the COVID-19 pandemic.

Moreover, North America is the largest market for latex medical disposable owing to the presence of a well-established healthcare infrastructure, higher adoption rate of advanced technology, and growing awareness regarding effects of cross-contamination and infection control measures in healthcare facilities. According to Surgical Site Infection Surveillance of 2018, by the Centre for Disease Control and Prevention, around 8,205 deaths were caused due to surgical site infections in the United States. Hence, maintaining a healthy and safe environment for patients as well as healthcare providers is of utmost importance, which in turn will lead to high demand of studied market.

Moreover, according to the American Society of Plastic Surgeons (ASPS) 2019, there are almost 1.8 million cosmetic surgical procedures and 16.3 million cosmetic minimally invasive procedures being performed in the United States in 2019. In addition, according to the Global Health and Wellness Report published in 2018, nearly 40% of the adult population in the United States was diagnosed with a cardiovascular condition. Hence the increasing volume of patient admissions in hospitals are expected to boost the penetration of latex medical disposables in the region.

Furthermore, Asia-Pacific is anticipated to increase at the stable rate mainly on account of high cost coupled with minimal awareness by the regional government. India and China are projected to offer significant opportunities an account of healthcare infrastructure improvement and growing number of private hospitals. In Africa, the industry is expected to grow at a lower rate owing to lack of healthcare sector development initiatives and expensive medical services.

Competitive Landscape

Different players are operating in the varied segments of the latex medical disposables sector. However, the overall vertical is consolidated with a few international players competing with each other. Also, these international players are dominating the global market since brand identity and quality of products offered by these players is more reliable than those provided by the domestic players.

Some of the companies which are currently present in the market are ANSELL LTD, B. Braun Melsungen AG, Becton, Dickinson and Company, Fisher Scientific, and Top Glove Corporation Bhd. For instance, in May 2018, Symphony Environmental Technologies Plc launched the first latex antimicrobial examination glove made with d2p technology to gain a competitive edge.

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Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • ANSELL LTD
  • B. Braun Melsungen AG
  • Cardinal Health
  • Clean Q Grip
  • Fisher Scientific
  • Hartalega Holdings Berhad
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Number of Baby Boomers
4.2.2 Increasing Prevalence of Chronic Diseases Leading to Longer Hospital Admissions
4.3 Market Restraints
4.3.1 FDA Norms to Improve Design and Safety of Reusable Medical Products
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Latex Gloves
5.1.2 Latex Foley Catheters
5.1.3 Latex Probe Covers
5.1.4 Urine Bags
5.1.5 Other Products
5.2 By End User
5.2.1 Hospitals
5.2.2 Diagnostic Centers
5.2.3 Ambulatory Surgical Centers
5.2.4 Other End Users
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 ANSELL LTD
6.1.2 B. Braun Melsungen AG
6.1.3 Becton, Dickinson and Company.
6.1.4 Fisher Scientific
6.1.5 Hartalega Holdings Berhad
6.1.6 Reflexx S.p.A.
6.1.7 Secured Medical Direction UK Co. Ltd
6.1.8 Supermax Corporation Berhad
6.1.9 Top Glove Corporation Bhd
6.1.10 Cardinal Health
6.1.11 Clean Q Grip
6.1.12 Kossan Rubber Industries Bhd
6.1.13 McKesson Medical-Surgical Inc.
6.1.14 Rubberex
6.1.15 SHIELD Scientific

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
  • ANSELL LTD
  • B. Braun Melsungen AG
  • Becton, Dickinson and Company.
  • Fisher Scientific
  • Hartalega Holdings Berhad
  • Reflexx S.p.A.
  • Secured Medical Direction UK Co. Ltd
  • Supermax Corporation Berhad
  • Top Glove Corporation Bhd
  • Cardinal Health
  • Clean Q Grip
  • Kossan Rubber Industries Bhd
  • McKesson Medical-Surgical Inc.
  • Rubberex
  • SHIELD Scientific
Note: Product cover images may vary from those shown

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