PORTLAND, Oregon, January 17, 2019 /PRNewswire/ --
High adoption of gloves in non-medical industries due to growing awareness about well-being and safety would drive the growth of the market
Allied Market Research published a report, titled, "India Disposable Gloves Market by Product (Natural Rubber Gloves, Nitrile Gloves, Vinyl Gloves, Neoprene, Polyethylene, and Others), Form (Powdered Gloves and Non-Powdered Gloves), Application (Medical Gloves and Non-Medical Gloves), and Distribution Channel (Wholesaling & Direct Selling, Medical Store, and Online Store): Opportunity Analysis and Industry Forecast, 2018 - 2025". The report provides a comprehensive overview of the market focusing on the key market segments, industry trends, market size and estimation, top investment pockets, key growth strategies, and competitive landscape. According to the report, the India disposable gloves market generated $302.9 million in 2017 and is projected to garner $759.8 million by 2025, registering a CAGR of 12.4% during 2018-2025.
The growth of disposable gloves market in India is driven by growing awareness about hygiene, disease prevention, and safety among the Indian populace coupled with surge in the number of end users. Moreover, technological advancements in manufacturing gloves and unprecedented growth of the healthcare sector are expected to provide lucrative opportunities to market players in the near future. However, limitations in production capacity and toxic reactions associated with the use of certain gloves are expected to impede the market growth.
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Neoprene gloves segment to register fastest growth through 2025
Among product types, the neoprene gloves segment is projected to grow at the fastest CAGR of 15.1% due to their increased demand in medical and non-medical industries (agriculture, chemical, oil & petrol refining, and cleaning & maintenance) coupled with rise in awareness about latex allergies. However, the natural gloves segment occupied more than half of the global market share in 2017 and is expected to maintain its lead throughout the forecast period, as they are less expensive than other products, and are therefore, widely used in the healthcare sector for protection against disinfectants and other harmful chemical agents. The report also analyzes other products including nitrile gloves, vinyl gloves, polyethylene, and others.
Powdered glove segment to retain lion's share through 2025
Powdered disposable gloves segment garnered more than three-fifths share of the market in 2017, and is expected to maintain its dominance through 2025. This is attributed to the fact that these gloves are not only tear-resistant and non-sticky but also ubiquitously available in the Indian market at an affordable cost. However, non-powdered disposable gloves is anticipated to register the fastest CAGR of 15.6% during the forecast period because these are powder-free in nature, less messy, and prevent undesired chemical reactions during surgeries and examination procedures.
Medical applications segment to dominate the market through 2025
The medical application segment accounted for more than three-fifths share of the market in 2017 and is expected to retain its lead throughout the forecast period, owing to the increasing use of disposable gloves in surgical procedures and growing incidence of infectious diseases in India. However, the non-medical industry is expected to grow at the highest CAGR of 13.3% during 2018-2025 due to the growing awareness regarding safety and hygiene among the Indian populace.
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Sales through online stores to grow at 14% CAGR through 2025
The sale of disposable gloves through online stores is projected to grow at the fastest CAGR of 14% during the forecast period, owing to the surge in the number of online buyers in India and advancements in online payment technologies. However, the wholesaling and direct selling segment occupied more than 70% of the Indian market in 2017 and is expected to retain its dominance through 2025, as such platforms facilitate the purchase of large quantities of disposable gloves at lower prices.
Key market players
The key players analyzed in the report include Ansell Limited, Hartalega Holdings Berhad (Gloveon), B. Braun Melsungen AG, Semperit AG Holding, Medline Industries, Inc., MRK Healthcare Pvt. Ltd., RFB Latex Limited, Primus Gloves Private Limited, Kanam Latex Industries Pvt. Ltd., and Asma Rubber Products Pvt. Ltd. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
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SOURCE Allied Market Research