Latex Medical Disposables Market
Latex Medical Disposables Market (Product Type - Latex Gloves, Latex Foley Catheters, Latex Probe Covers, and Urine Bags); End User - Hospitals, Clinics, Ambulatory Surgical Centers, Clinics, and Diagnostic Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Global Latex Medical Disposables Market: Snapshot
Latex medical disposables such as latex gloves are used during surgeries and check-ups. The demand for latex medical disposables is therefore quite high among doctors, surgeons, and dentists across the globe. Primarily, there are two types of latex gloves available in the market. These are powdered and non-powdered latex gloves. The non-powdered gloves might witness relatively more demand when compared with powdered gloves, as powdered gloves were found to be hindering the healing process of patients.
The market might encounter obstacles owing to the prevalence of latex allergies that induce several healthcare professionals to use non-latex products instead. Moreover, with the intensifying competition, the market players might have to bring down the prices of their products. As a result, sluggish growth in revenue might restrict the growth of the global market for latex medical disposables. However, the impact of these restraints will be negated by the emergence of novel technologies.
The global market for latex medical disposables was pegged at US$4.1bn in 2015, and is expected to rise up to achieve US$6.4bn by the end of 2024, expanding at a CAGR of 4.9%.
Rising Demand from Countries in Asia Pacific to Accelerate Growth
Based on geography, the global latex medical disposables market has been segmented into Europe, Asia pacific, Latin America, the Middle East and Africa, and North America. The global latex medical disposables market is presently dominated by North America, which accounted for a 33% share of the global market during 2016, with Europe close-by at its heels. The increasing concerns about safety, growing awareness about health and the spread of contagious diseases, and increasing measures for preventing the spread of these diseases are some of the major factors driving the the market in Europe and North America.
Asia Pacific is also slated for substantial growth during the forecast period, expanding at a promising CAGR of 5.8% between 2016 and 2024. The countries in Asia Pacific such as India, Japan, Singapore, China, Australia, and Thailand are likely to represent a significant portion of the global market for latex medical disposables over the coming years. The growth of these regions can be attributed to the growing awareness about the safety of patients and healthcare professionals, rising per capita incomes of people, increasing healthcare expenditures of governments, and flourishing medical and pharmaceutical sectors in these regions.
Latex Gloves Emerge as Dominant Product Segment
By product, the global market for latex medical disposables has been segmented into latex, foley catheters, latex gloves, urine bags, latex probe covers, and others. Hospitals, clinics, ambulatory surgical centers, diagnostic centers, and others are the key segments by end user. Of these, latex gloves have been witnessing increasing demand over the past few years. As a result, these products have been dominating the global market. In terms of revenue, this product segment accounted for nearly 60.4% of the global market for latex medical disposables during 2015. Latex gloves might continue to hold the foremost position as these gloves are an easy and effective way of protecting the hands of patients and healthcare providers from the risk of infection.
By end user, the hospitals segment dominated the global market for latex medical disposables in terms of revenue during 2015. The increasing number of surgical procedures and check-ups in hospitals, coupled with establishment of new clinics and hospitals is responsible for the dominance of this segment. This segment is slated to contribute 28.7% to the global market for latex medical disposables by the end of 2024. The diagnostic centers segment might hold the second-most position over the forecast period.
Some of the major companies operating in the global market for latex medical disposables are Hartalega Holdings Bhd., Supermax Corporation Berhad, B. Braun Melsungen, C.R. Bard, Ansell, Top Glove Corporation, Dynarex Corporation, and Medtronic plc.
Rising Prevalence of Latex Allergies to Boost Latex Medical Disposables Market Growth
Growing adoption of medical care enterprises of electronic wellbeing records (EHRs) in various regions across the globe is boosting the IT spending on clinical analytics. EHRs have shown promising potential in reducing medication mistakes, bring significant expense savings, and in improving population wellbeing. Medical services providers have likewise been leveraging the Latex medical disposables, for example, latex gloves are utilized during surgeries and registration. The interest for latex medical disposables is in this way quite high among specialists, surgeons, and dentists across the globe.
The market might experience deterrents owing to the pervasiveness of latex allergies that induce a few medical services professionals to utilize non-latex items instead. Additionally, with the intensifying competition, the market players might need to bring down the prices of their items. Therefore, sluggish development in income might restrict the development of the worldwide market for latex medical disposables. Be that as it may, the impact of these restraints will be discredited by the development of novel technologies.
Increasing number of situations where individuals are suffering from latex sensitivity is likely to challenge development in the worldwide latex medical disposable market. Owing to this reality, various medical services providers are using non-latex items that might limit development in this market.
Players are indulging in intense competition that leads in reducing prices of these items that as a rule diminish profits of the players. Consequently, lower incomes might hamper advancement in the worldwide latex medical disposable market.
Technological progressions taking spot in the medical services region is the key compute driving advancement the worldwide latex medical disposables market. Key market participants are investing in innovative technologies and developing new items for reducing infections and risks, thereby aiding in expansion of the global latex medical disposables market.
Latex Medical Disposables Market: Scope and Methodology
This report on the global latex medical disposables market analyzes the current and future prospects of the market. The report comprises an elaborate executive summary, including a market snapshot that provides overall information of various segments and sub-segments.
The research is a combination of primary and secondary research. Primary research formed the bulk of our research efforts along with information collected from telephonic interviews and interactions via e-mails. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ Mn for each segment for the period from 2014 to 2024, considering the macro and micro environmental factors. Growth rates for each segment within the global latex medical disposables market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.
A detailed qualitative analysis of factors responsible for driving and restraining market growth and future opportunities has been provided in the market overview section. This section of the report also includes market attractiveness analysis that provides a thorough analysis of the overall competitive scenario in the global latex medical disposables market.
Market revenue in terms of US$ Mn for the period between 2014 and 2024 along with the compound annual growth rate (CAGR %) from 2016 to 2024 are provided for all the segments, considering 2015 as the base year. Market size estimations involved in-depth study of services and product features. Additionally, market related factors such as increasing preference for technologically advanced services, product innovation, and growing number of acute and chronic diseases in various geographies and historical year-on-year growth have been taken into consideration while estimating the market size.
Latex Medical Disposables Market: Segmentation
Based on product type, the global latex medical disposables market has been segmented into latex gloves, latex foley catheters, latex probe covers, urine bags and others. Based on end users, the market has been segmented into hospitals (public & private), ambulatory surgical centers, clinics, diagnostic centers and others.
Geographically, the global latex medical disposables market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In addition, the regions have been further segmented by major countries from each region. These include the U.S., Canada, the U.K., Germany, France, Italy, Spain, Russia, China, Japan, India, Australia, New Zealand, South Africa, Brazil, and Mexico.
Latex Medical Disposables Market: Competitive Landscape
The report also profiles major players in the latex medical disposables market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Key players profiled in this market report include B. Braun Melsungen, Medtronic plc. (Covidien), C.R. Bard, Ansell, Hartalega Holdings Bhd., Top Glove Corporation, Supermax Corporation Berhad, and Dynarex Corporation.
The global latex medical disposables market has been segmented as follows:
Global Latex Medical Disposables Market, by Product Type
- Latex Gloves
- Latex Foley Catheters
- Latex Probe Covers
- Urine Bags
Global Latex Medical Disposables Market, by End User
- Ambulatory Surgical Centers
- Diagnostic Centers
Global Latex Medical Disposables Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa