Hand Protection Equipment Sector Investment

The global disposable gloves market size was estimated at USD 9.57 billion in 2023

Hand Protection Equipment Industry | Forecast 2030

Grand View Research’s hand protection equipment industry database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook report and summary presentations on individual areas of research.

The economic value generated by the hand protection equipment market was estimated at approximately USD 23.8 billion in 2022. The rising demand is attributed to the increasing concerns about hand hygiene and the product’s efficiency in limiting the spread of COVID-19 in various end-use industries.

Access the Global Hand Protection Equipment Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Durable gloves are mainly used in the construction and manufacturing industries to avoid injuries arising from burns, cuts, and hazardous chemicals. Durable gloves, which were formerly restricted to the industrial, construction, and healthcare industries, are now accessible to the general population, thereby propelling their demand. The disposable gloves segment is expected to witness a significant CAGR during the forecast period. These gloves are mainly used in the food and healthcare industries for protection against the transmission of infection. The burst of COVID-19 cases has caused a rise in demand and a shortage in the supply of disposable gloves. The rising occurrence of healthcare-associated infections, such as COVID-19 and swine flu, coupled with increasing demand for disease control, drive the product demand.

Disposable Gloves Market Insights

The global disposable gloves market size was estimated at USD 9.57 billion in 2023 and is projected to grow at a compounded annual growth rate (CAGR) of 8.4% from 2024 to 2030. The market is anticipated to grow over the coming years on account of several factors including favorable occupational safety regulations, increasing importance of safety and security at workplaces, and rising healthcare expenditure. The healthcare sector in major developing economies is anticipated to witness substantial growth on account of several factors, such as increasing investments in both private and public sectors along with rising population, high influx of migrants, and the growing geriatric population. Furthermore, rising healthcare expenditure is projected to drive the growth of the healthcare sector, which, in turn, is estimated to augment the demand for disposable gloves.

Disposable Medical Gloves Market Insights

The global disposable medical gloves market size was estimated at USD 6.93 billion in 2023 and is expected to grow at a CAGR of 8.9% from 2024 to 2030. The growing demand for safety and security at healthcare workplaces and rising healthcare expenditure are expected to have a positive impact on industry growth. Growing awareness of safety and health measures associated with the treatment of patients and emergency response incidents is further anticipated to augment the demand for disposable medical gloves in the healthcare sector. Furthermore, the risks related to on-the-job transmission of bloodborne pathogens and germs have led to an increased adoption of gloves in medical & healthcare facilities.

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Nitrile Gloves Market Insights

The global nitrile gloves market size was estimated at USD 4,568.9 million in 2023 and is expected to grow at a CAGR of 9.6% from 2024 to 2030. Increasing awareness among industry participants regarding the importance of worker safety and security at workplaces, coupled with stringent regulations and high costs associated with workplace hazards, is anticipated to drive industry growth. The importance of worker safety has significantly increased owing to the rising employment in industries across the globe.Furthermore, growing awareness regarding the safety and health measures associated with emergency response incidents is anticipated to augment the demand for nitrile gloves in the healthcare sector. In addition, risks related to on-the-job transmission of blood-borne pathogens and germs have led to increased product adoption in medical & healthcare facilities.

Rubber Gloves Market Insights

The global rubber gloves market size was estimated at USD 20.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.9% from 2022 to 2030. Stringent laws and significant costs associated with workplace danger and growing awareness among industry participants about worker safety & security at work are expected to fuel industry expansion over the forecast period. Governments around the world are investing heavily in a sufficient supply of Personal Protective Equipment (PPE), which includes products, such as gowns, gloves, face shields, and masks, during the pandemic in 2020. Major market players are also working together with hospitals, medical institutions, and NGOs to offer PPE directly to get a competitive advantage.