by The India surgical gloves market has witnessed significant growth in recent times on account of the growing awareness about maintaining hygiene and preventing spread of infections in healthcare settings. Surgical gloves, being permeation-resistant personal protective equipment, provide an effective barrier between medical professionals’ skin and patients’ bodily fluids or tissues during medical examinations and surgeries. Since they prevent cross-contamination, they help curb transmission of various infectious diseases and ensure better patient outcomes as well as medical worker safety. Their widespread adoption across government and private healthcare facilities in India in light of the COVID-19 pandemic has further augmented the market size.
The global India Surgical Gloves Market is estimated to be valued at US$ 125.67 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising Demand for Nitrile Gloves: Nitrile gloves have emerged as a versatile and economical alternative to latex gloves. They offer better puncture and chemical resistance compared to latex, making them more suitable for dental, medical and industrial applications. Furthermore, their hypoallergenic properties prevent allergic reactions, a common drawback associated with latex. Owing to such advantages, nitrile gloves are fast gaining popularity over latex variants in India. As per industry estimates, their demand in the country is projected to grow at over 6% annually through 2030.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate. Regulatory compliances and high distribution channel set up cost act as a barrier for new players.
Bargaining power of buyers: The bargaining power of buyers is high due to presence of many established players. Buyers can negotiate on price.
Bargaining power of suppliers: Bargaining power of suppliers is moderate due to availability of many suppliers in domestic as well as international market.
Threat of new substitutes: Threat from substitutes is low as surgical gloves are essential for surgeries and have no close substitute.
Competitive rivalry: The competition is fierce among existing players due to presence of many global and domestic brands.
Key Takeaways
The India Surgical Gloves Market Size is expected to witness high growth. The global India Surgical Gloves Market is estimated to be valued at US$ 125.67 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.
Regional analysis:
North India dominates the India surgical gloves market owing to presence of many hospitals, surgical centers and healthcare facilities in states like Delhi, Uttar Pradesh and Haryana. West and South India are other major regional markets due to improving healthcare infrastructure. Rising medical tourism is further boosting the market growth in these regions.
Key players:
Key players operating in the India surgical gloves market are Dow, Henkel, BASF, Nordson, LORD Corporation, H.B. Fuller, Siltech Corporation, Qualcomm, Broadcom, Skyworks Solutions, and Qorvo. These companies accounts for major market share and are focusing on new product launches and expanding their regional presence to strengthen market position.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
