According to a new report published by Allied Market Research titled, “India Disposable Latex Gloves Market by Product Type, Distribution Channel, and Application: Opportunity Analysis and Industry Forecast, 2020–2027,” The India disposable latex gloves market was valued at $181.2 million in 2019, and is projected to reach $282.8 million by 2027, growing at a CAGR of 5.8% from 2020 to 2027.
Latex is a natural material, which is extracted from floral plants. It may also be manufactured artificially by polymerizing a monomer like a styrene, which is emulsified by surfactants. It is used for the fabrication of latex gloves for surgical and physical inspection. Latex gloves are commonly used in healthcare practices and by the medical professionals. Latex gloves are biodegradable and give high sensitivity to the touch and high elasticity.
The factors such as increase in population concern for health & hygiene and growth in number of end users are expected to fuel the growth of the India disposable latex gloves market. In addition, technical developments are expected to further drive the business growth. However, it is estimated that less manufacturing capacity and the toxic reaction of powered latex gloves would hinder the market growth. Instead, growth in the healthcare sector is expected to provide lucrative opportunities for the market players to expand.
The market for sterile gloves is set to expand in the coming years. Surgeons and doctors across the globe typically use sterile surgical gloves when performing an operation. These gloves help prevent cross contamination during surgical procedures. Moreover, several other advantages such as perfect anatomical fitting, reduced finger fatigue, and increased efficiency from these gloves are expected to boost the demand for the product; thereby, fueling the market growth.
The off-line segment is expected to witness significant growth, owing to factors such as customers can purchase disposable gloves in bulk, entire seller, dealer, and distributors directly from the manufacturers. Thus, the above factors will increase the demand for disposable latex gloves via off-line platforms.
By application, the medical gloves segment is expected to dominate the market throughout the forecast period, owing to increase in number of surgical procedures.
The disposable latex gloves market in India is highly fragmented with major players focusing on agreement, expansion, and product launch as the key developmental strategies. Increase in demand for safety is expected to drive the disposable latex gloves market in India in the near future.
Players analyzed and profiled in the India disposable latex gloves market are Amkay Products Pvt. Ltd., Asma Rubber Products Pvt. Ltd., B. Braun Holding GmbH & Co. KG, GPC Medical Ltd., Kanam Latex Industries Pvt. Ltd., Lars Medicare Pvt. Ltd., Lenora Gloves Pvt. Ltd., MRK Healthcare Pvt. Ltd., RFB Latex Ltd, and Sara Healthcare.
Key Findings Of The Study:
Based on product type, the sterile segment emerged as the leader with more than 73% share in 2019. This can be highly attributed to high demand of sterile gloves in various applications.
By distribution channel, the off-line segment dominated the India disposable latex gloves market with around 72% market share in 2019.
By application, the medical segment dominated the India disposable latex gloves market with around 60% market share in 2019.