Surgical gloves are sterile disposable medical gloves used by clinicians during medical procedures such as surgery or examinations to help prevent cross-contamination between caregivers and patients. They are necessary by professionals during operations or when handling infused/injected medications to ensure hygienic healthcare practices. The global surgical gloves market is estimated to be valued at US$2.1 billion in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023-2028, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the growth of India surgical gloves market size is the growing hygiene awareness among medical practitioners and patients. With increasing population and burden of chronic diseases in India, surgical procedures and patient volumes have increased drastically over last few years. This has driven the demand for disposable products like surgical gloves to ensure protection of patients as well as medical staff from transmissible diseases and prevent nosocomial infections. Additionally, initiatives by government and regulatory bodies like Ministry of Health and Family Welfare to promote hygienic facilities and practices in healthcare setups have created conducive environment for market growth of surgical gloves in India. However, volatile prices of natural rubber which is key raw material can pose challenge for market players.
SWOT Analysis
Strength:
- India has a large population in need of surgical procedures and thus there is high demand for surgical gloves in the country.
- The cost of manufacturing surgical gloves is relatively low in India compared to developed markets such as the US and Europe. This makes India an attractive production base.
- Presence of several manufacturers in India ensures adequate domestic supply of surgical gloves.
Weakness:
- Quality standards and certifications in India are still evolving which can impact export opportunities for Indian surgical glove manufacturers.
- Lack of backward integration results in dependence on imported raw materials like latex, increasing the cost of production.
Opportunity:
- Growing medical tourism and number of surgeries in India will continue to drive the demand for surgical gloves over the forecast period.
- Export opportunities exist in developing Asian and African countries where quality standards are gradually improving.
Threats:
- Stiff competition from dominant Chinese and Malaysian manufacturers limits the ability to hike prices.
- Fluctuations in raw material prices and currency exchange rates can squeeze profit margins.
Key Takeaways
The India surgical gloves market is expected to witness high growth over the forecast period of 2020-2025.
Regional analysis: The western region currently dominates the Indian surgical gloves market owing to a higher concentration of private healthcare facilities. States like Maharashtra and Gujarat account for a major share. However, northern and southern regions are growing at a faster pace due to improvements in medical infrastructure.
Key players: Key players operating in the India surgical gloves market are Super Surgical Co. Pvt. Ltd, Universe Surgical Equipments Co, Lad Healthcare, Guldberg Industries Ltd. These companies cater to both domestic needs and have an growing export presence in Asia and Africa. However, they face stiff competition from dominant Chinese and Malaysian players.
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