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Monday, 30 October 2023

Nonwoven Disposable Gloves Market Eyes $1.72 Billion Value by 2030

 

Nonwoven Disposable Gloves Market Growth & Trends

The global nonwoven disposable gloves market size is anticipated to reach USD 1.72 billion by 2030, registering a CAGR of 8.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is expected to witness significant growth on account of the rising product demand from the healthcare industry including hospitals, nursing homes, and home healthcare. Furthermore, an increasing geriatric population across the developed nations is expected to drive the demand for healthcare spending over the forecast period, thereby resulting in industry growth. The global demand for these products is driven by increased healthcare spending as well as growing consumer awareness related to the transmission of pathogens through healthcare workers who are in contact with blood and other body fluids.

Pre-soaped and non-soaped, soft nonwoven disposable gloves are primarily used in medical applications for the professional cleaning of body parts. Non-soaped disposable gloves emerged as the leading segment for their applications in household commercial cleaning and spa applications. The main drivers of increased demand for nonwoven disposable gloves are the high incidence of chronic diseases and hospitalization rates. Growingconsumer awarenessabout the seriousness of diseases and environmental issues is another factor driving product demand. The growing geriatric population is also contributing to arise in hospitalizations, which raises the need for hygiene supplies, such as disposable gloves, to prevent infection.

For instance, the United Nations estimates that there were 703 million people worldwide in 2019 who were aged 65 years or older. In 2050, it is expected that there will be 1.5 billion senior people. By 2050, the percentage is expected to increase to 16%, meaning that 1 in 6 individuals worldwide would be 65 years of age or older. To prevent contamination, regulatory organizations like the National Health Service (NHS) and the Occupational Health and Safety Administration (OHSA) have developed regulations for the use of gloves in medical applications. Every firm is extremely concerned about employee safety at work. During the forecast period, these elements are anticipated to fuel market expansion. To create cutting-edge and original solutions, manufacturers are looking for partnerships, mergers, and acquisitions.

Also, manufacturers are employing a variety of other strategies including geographic expansion and the creation of new goods to broaden their industrypresence and provide services to end-use sectors. For instance, Top Glove Malaysia, a division of Top Glove Corp. Bhd., received permission to resume exporting and selling gloves to the United States of America in September 2021. According to Customs and Border Protection (CBP), all ports in the United States will accept disposable gloves made by Top Glove in Malaysia. In Feb 2021, Pastel Glove Sdn. Bhd. was granted a manufacturing license by the Ministry of International Trade and Industry Malaysia (MITI) for the creation of medical-grade nitrile- & natural rubber-based examination gloves.

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Nonwoven Disposable Gloves Market Report

Report Attribute Details
Market size value in 2023 — USD 938.7 million
Revenue forecast in 2030 — USD 1.72 billion
Growth rate — CAGR of 8.7% from 2023 to 2030
Base year for estimation — 2022
Historical data — 2018–2021
Forecast period — 2023–2030

Nonwoven Disposable Gloves Market Report Highlights

  • The spunlace technology segment accounted for the revenue share in 2022. This technology offers a high strength-to-weight ratio, soft & even surface, good absorbency, and excellent processability to the nonwoven materials
  • It also offers low processing costs and lint-free nonwoven disposable gloves. This makes it a cost-efficient and eco-friendly manufacturing process
  • The pre-soaped product segment will register the fastest CAGR from 2023 to 2030. In healthcare institutions, where there is a high risk of cross-contamination and hospital-acquired diseases, pre-soaped nonwoven disposable gloves are most frequently utilized
  • Rising demand for pre-soaped gloves intended for cleaning extra-sensitive skin of patients during radiation treatment, as it cannot be cleaned using soap and water, is expected to drive the product demand over the forecast period
  • The healthcare technology segment accounted for a significant share of the global revenue in 2022. The segment is expanding owing to the high product demand due to increased cases of Hospital-acquired Infections (HAIs)
  • In addition, rising medical spending in developing nations like India with the growing demand for improved healthcare services will support the growth of this segment
  • Europe accounted for the maximum revenue share in 2022. The rising aging population and increasing cases of chronic diseases & HAIs are expected to drive the product demand in the region