Surgical gloves are used during surgical procedures to ensure sterile handling and protect hands from bodily fluids and infectious microorganisms. They act as a barrier between hands of healthcare workers and patients. Latex and nitrile are commonly used materials for making surgical gloves. The gloves help maintain hygiene and reduce cross-contamination in hospital settings. Rising number of surgeries due to increasing incidence of diseases and improving access to healthcare services are driving demand for surgical gloves in India.

The global India Surgical Gloves Market is estimated to be valued at US$ 125.67 Mn or 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 Dynamics:
Rising healthcare expenditure is one of the major drivers of the India surgical gloves market. As per government data, India's healthcare spending is estimated to increase at a CAGR of 22% from 2020 to 2025, reaching $372 billion by 2025. Growing public and private investments in healthcare infrastructure development such as new hospitals, surgical centers are increasing the number of surgeries in the country. This is propelling demand for surgical gloves. Additionally, rising awareness among healthcare workers regarding benefits of wearing gloves is another factor fueling growth of the market. Stringent regulations mandating use of surgical gloves during medical examination and procedures is poised to generate more demand over the forecast period.

SWOT Analysis

Strength: India has a large population base and a growing healthcare sector. There is an increased healthcare spending which is driving the demand for surgical gloves. As India aims to achieve universal healthcare, the demand from hospitals and clinics is expected to rise significantly. Manufacturing of surgical gloves within the country also ensures steady supplies and reduces import dependency.

Weakness: Most of the surgical glove manufacturers in India are small and medium scale companies with limited production capacities. This makes it difficult for them to cater to large sized tenders and supply contracts. Raw material sourcing is also impacted due to reliance on imports of latex and nitrile from other countries. Lack of stringent quality regulations has led to the presence of low quality products in the market.

Opportunity: Growing medical tourism industry in India presents lucrative opportunities. There is a scope to reduce imports by enhancing domestic production capacities through technology transfers and setting up of joint ventures. Launching innovative gloves made from novel materials can capture new market segments. Tapping the rising export potential to other Asian and African countries is a key opportunity area.

Threats: Stiff competition from large multinational companies dominating the global surgical gloves market. Fluctuations in raw material prices globally poses pricing challenges. Possible trade barriers imposed by other countries impact export potential of India companies. Rising employee and compliance costs can squeeze margins of domestic players.

Key Takeaways

The India surgical gloves market is expected to witness high growth on account of various favourable factors like rising population, improved access to healthcare, and growing medical tourism industry. The country has a large workforce and suitable climatic conditions for setting up manufacturing units at competitive costs. This makes India an attractive production base for surgical gloves to cater domestic as well as international markets.

India Surgical Gloves Market Size 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: The southern region accounts for the major share in the India surgical gloves market currently due to concentration of renowned healthcare facilities and hospitals. However, northern and western regions are emerging fast on back of increasing investments by both public and private sectors in healthcare infrastructure development. States like Gujarat, Maharashtra and Rajasthan are positioning themselves as hubs for surgical gloves production to gain from export potentials.

Key players: Key players operating in the India surgical gloves market are Dow, Henkel, BASF, Nordson, LORD Corporation, H.B. Fuller, Siltech Corporation. These companies have strong distribution networks and collaborations with large hospitals and medical device manufacturers. They are focusing on capacity expansions and new product launches catering to the rising specialist segment. However, local SME players are also growing rapidly to leverage cost advantages and market proximity.

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