Nitrile Gloves Market to grow at a CAGR of 7.23% during 2023-2027
The Nitrile Gloves Market is expected to grow at a CAGR of 7.23% during 2022 and 2027. During this period, the market is also expected to show a growth of USD 3586.78 million. The market trend favors the adoption of powder-free nitrile gloves in various industries, including healthcare, food processing, and automotive, due to the associated risks with powdered gloves. These risks include potential health issues such as granulomas, pleuritis, myocarditis, and skin irritation caused by starch powder. Compliance with hand hygiene regulations is also more challenging with powdered gloves, as healthcare workers are required to wash their hands post-use instead of utilizing alcohol-based hand rubs. This prolongs hand washing time. In response, manufacturers are prioritizing the development and production of powder-free nitrile gloves, ensuring a safer and more efficient solution for end-users.
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Technavio analysts predict that the Disposable subsegment will lead the Product segment during 2023 and 2027 The disposable segment of the global nitrile gloves market is experiencing robust growth and is projected to expand further during the forecast period. Nitrile gloves, fabricated from synthetic rubber, provide numerous advantages over traditional latex gloves. They exhibit superior resistance to punctures, chemicals, and oils, making them an optimal selection in various industries and applications. In the healthcare sector, disposable nitrile gloves are extensively utilized in hospitals, clinics, and laboratories to safeguard against infectious diseases, chemicals, and bodily fluids. The increasing emphasis on infection control has fueled the demand for disposable nitrile gloves. Moreover, the transition from latex to nitrile gloves due to latex allergies is another significant factor driving the growth of this segment.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish rising concerns about hygiene and safety regarding healthcare-associated infections
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The Nitrile Gloves Market has witnessed significant growth in recent years due to its extensive applications in various industries, including the cleanroom industry, metal & machinery industry, and oil & gas industry. Nitrile gloves offer excellent chemical resistance, making them an ideal choice for handling solvents and chemicals. In the healthcare sector, nitrile gloves are widely used for preventing allergic reactions and maintaining hygiene standards in surgical and examination settings. The risk of pathogen transmission and cross-contamination is minimized with the use of durable, powder-free nitrile gloves. The geriatric population's increasing need for personal protective equipment (PPE) and the growing healthcare spending are key factors driving the market's growth. Public funding for research and development in the healthcare sector is also fueling product innovation in nitrile gloves, leading to the production of gloves with enhanced features and improved performance. Despite the benefits, there are concerns regarding the potential allergic reactions caused by nitrile gloves, which manufacturers are addressing by producing hypoallergenic varieties. Overall, the Nitrile Gloves Market is expected to continue its growth trajectory, driven by the increasing demand from various industries and the ongoing innovation in glove technology.
In accordance with Technavio's market research, the global nitrile gloves market is a significant segment of the expansive global healthcare equipment industry. This sector encompasses organizations dedicated to the research and development (R&D) of various product categories, such as capital equipment, instruments, implants, accessories, and consumables. These products are utilized in the diagnosis, monitoring, and treatment of diverse medical conditions. Technavio calculates the size of the global healthcare equipment market by aggregating the revenues generated by manufacturers of diagnostic devices and equipment. The healthcare equipment market is segmented into several categories, including Devices, which comprises advanced, differentiated, and clinically tested data-driven devices.
The Nitrile Gloves Market is experiencing significant growth, fueled by the rising concerns about hygiene and safety regarding healthcare-associated infections. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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