The global disposable gloves market mainly depicts the presence of a large consolidated vendor landscape, wherein key players hold more than 50% of their market share, says Transparency Market Research based on a newly published research report. Achieving extensive product development is the main aim of most companies working in this market. Several companies in this field are ready to collaborate and participate in mergers & acquisitions with other businesses, in order to gain a competitive advantage.
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Expansion of product portfolio, incorporation of extensive research and innovation, and bringing forth product differentiation are few other strategies implemented by many players working in the disposable gloves market. The competition is expected to intensify in the next few years owing to new players entering this market at a regular pace. Top Glove Corporation, Kossan Rubber Industries, Dynarex Corporation, Ansell Healthcare, Hartalega Holdings Berhad, Cardinal Health Inc., Adventa Berhad, and Supermax, are key players operating in the global disposable gloves market.
This market had gained a valuation of US$5.21 bn in 2012, which is further expected to reach about US$7.85 bn by the end of 2019. Such a splendid growth is expected to occur alongside an impressive CAGR of 6.2% measured during the forecast period from 2013 to 2019.
High Focus on Maintaining Hygiene and Cleanliness Boosts Market’s Growth
A rampantly expanding healthcare industry is one of the main causes of the global disposable gloves market to depict an excellent growth in recent times. This is mainly due to a widespread use of the gloves in various medical sectors of the healthcare industry, particularly when it comes to activities such as operations and diagnosis associated with maladies.
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Use of quality disposable gloves can readily lead to a rise in awareness regarding maintaining hygiene along with implementation of certain precautionary measures that can prevent spread of diseases. Thus, with a rise in the number of cases wherein serious diseases are affecting people all over globe, an extensive surge in the use of specific disposable gloves for maintain hygiene is felt. Furthermore, disposable gloves is also witnessing rising applications in food handling, cleaning of rooms, and handling industrial activities, consequently bolstering the market to exhibit notable expansion.
Shortage of Products in Remote Regions Hampers Market’s Expansion
However, a substantial volatility exists in terms of raw material prices, which is highly restraining the global disposable gloves market. Shortage of raw materials in underdeveloped and emerging economies too has notably hindered the market’s expansion. High costs of disposable gloves in these economies is expected to continue posing as an obstacle to the global disposable market during the next few years. Nevertheless, many companies are now anticipated to come up with cost-effective glove solutions, which is expected to dilute the restraints affecting the global disposable gloves market up to a certain extent