LATAM & Caribbean Disposable Surgical Gloves Market is expected to reach US$ 291.32 million by 2030

Publisher: The Insight Partners

According to our new research study on “Disposable Surgical Gloves Market Forecast to 2030 – Global Analysis – by Type, Sterility, Form, Distribution Channel, and End User, and Region,” the disposable surgical gloves market size is expected to grow from US$ 194.21 million in 2022 to US$ 291.32 million by 2030; it is estimated to register a CAGR of 5.2% during 2022–2030.

Key factors driving the LATAM and Caribbean disposable surgical gloves market growth are increased investment in medical consumables and devices and growing consumption and distribution of disposable surgical gloves. However, latex allergy and increasing waste hinder the market growth.

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Key Market Opportunity

Development of Smart Surgical Gloves

At the time of a surgical procedure, disposable surgical gloves often get damaged. Therefore, to prevent themselves and patients from the risk of infections, surgeons and healthcare workers wear two sets of gloves, one above the other. Wearing two gloves may prevent the risk of infection; however, it may cause latex allergy, skin irritation, and sweating to surgeons and healthcare workers. These concerns have compelled researchers and companies to develop smart gloves. In August 2022, Smarterials Technology GmbH introduced its patented Smarterials Spot Glove. Smarterials Spot Glove has a layered structure and smart indicator that warns surgeons in case of perforations. The Smarterials Spot Glove is made for higher puncture resistance and reduces perforations by up to 90%. Such developments in surgical gloves are likely to offer vital growth opportunities to the market. Thus, the growing technological developments will increase the sales of smart surgical gloves in Latin America, which will contribute to the market growth in the upcoming years.

Market Driver

Growing Consumption and Distribution of Disposable Surgical Gloves

In Latin America, the growing awareness of sanitization and prevention of infections has increased the imports of medical consumables and disposables. Countries in Latin America have increased the per capita consumption of rubber gloves. During the COVID-19 pandemic, the import of disposable surgical gloves increased significantly. According to the Chequeado, Argentina's open-access platform, Buenos Aires Province imported 12 million disposable surgical gloves worth US$ 54 million from China in 2020. Similarly, in 2020, according to Wilson Center data, Venezuela imported 100,000 protective suits and surgical gloves from China.

The medical industry growth further escalated due to increasing medical tourism, aesthetic procedures, and the growing number of healthcare facility centers, leading to increasing demand for disposable surgical gloves. Thus, companies are witnessing regional growth opportunities and expanding their distribution network in Latin America. In March 2020, Protective Industrial Products, Inc. expanded its distribution in Latin American countries. The company made its decision after the success of its expansion in Mexico.

Similarly, Sri Trang Gloves Public Company Limited (STGT), Thailand, expanded its footprint in Latin America. STGT has continuously increased its distribution of rubber gloves since 2020. The company has generated revenue from producing and distributing rubber gloves in Latin America by 10%, 11.2%, and 14% in 2020, 2021, and 2022, respectively. The countries in Latin America have a higher potential for growth opportunities for rubber glove usage. Thus, developing public health and sanitation systems, along with the increased purchasing power of countries in the region, are creating growth opportunities for the market.

Owens & Minor Inc, HARPS Holdings Bhd, Top Glove Corp Bhd, Ansell Ltd, B Braun SE, Cardinal Health Inc, Ametro SaRL, Bahamas Medical & Surgical Supplies Ltd, Lighthouse Medical Supplies Ltd, and Hextar Healthcare Bhd are among the leading companies operating in the disposable surgical gloves market.    

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