SINGAPORE, Nov. 8, 2017 /PRNewswire/ -- With a projected compound annual growth rate (CAGR) of 9.2 percent from 2015
An increase in use of latex gloves and gradual shift toward non-powdered and synthetic gloves will drive volume growth in emerging economies. Investment in research and development is vital for manufacturers to remain competitive, command a higher premium, differentiate themselves, and sustain higher margins in a commoditized ecosystem.
Frost & Sullivan's market insight, "Global Surgical Gloves Market, Forecast to 2020," part of Frost & Sullivan's Visionary Science Growth Partnership Service program, finds that surgical glove volumes are expected to register a CAGR of 8 percent from 2015 to 2020, reaching a total volume of almost 3 billion pairs in 2020. The market insight covers key trends, drivers, restraints, technology and material developments, country snapshot, value chain dynamics, market size and forecasts. The competitive landscape and company profiles of players such as Ansell, Cardinal Health, Molnlycke, Sempermed, and Aspion are provided.
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"End users are becoming more aware of quality standards and are adopting double-gloving and changing gloves during surgical procedures to mitigate infection and reduce wear and tear. Furthermore, technology advancements and the shift from consumers using low-end surgical gloves to high-performance synthetic gloves will boost industry growth," said Visionary Science Industry Analyst Kaushal Mathur.
Regional trends driving growth in the global surgical gloves market include:
The development of product technology capabilities, packaging, sterilization, quality standards, regulatory approval, and manufacturing lines require substantial capital investment, technical know-how, and manufacturing experience, thereby restricting the entry of new participants.
"An extremely robust distribution network is vital to penetrating substantially sized and diverse regions such as North America, Europe, and Asia-Pacific. Prohibitive costs are a major challenge for new entrants," noted Mathur.
"The strong existing relationships of leading manufacturers with distributors act as an additional hurdle. Moreover, in some cases, distributors deploy a pre-qualification process prior to considering the distribution of products from new manufacturers." he added.
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Global Surgical Gloves Market, Forecast to 20209A73_39
Melissa TanCorporate Communications Asia PacificP: +65 6890 0926F: +65 6890 0999E: [email protected]
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SOURCE Frost & Sullivan
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