The global latex medical disposables market holds a mostly consolidated competitive scenario, according to Transparency Market Research. The five leading players in the global latex medical disposables market accounted for more than 60.0% in 2015. TMR also states Top Glove Corporation, Ansell, Hartalega Holdings Bhd, C.R. Bard, and B. Braun Melsungen, among these leading entities that have captured the market through technological advancements and a wide product offering. Improving R&D investment has proven to be helpful to these players in the global latex medical disposables market.
A research report released by TMR described the global latex medical disposables market and is competitive landscape as hosting dominant players that are competing through advanced product innovation, while the newer regional vendors are endeavoring to gain larger shares from the existing ones. Players also earn traction in the global latex medical disposables market through offering price discounts on bulk purchases. While the threat of new entrants is moderate, the threat of substitutes is considerably high.
The global latex medical disposables market was valued at 4.1 bn in 2015 and is expected to reach US$6.4 bn at the end of 2024, after expanding at a CAGR of 4.9% within a forecast period from 2016 to 2024.
Technological Advancements Driving Global Latex Medical Disposables Market
A high number of players in the global latex medical disposables market have been investing in the novel technologies and their release. More and more products are being released that focus on reducing infections and health risks while and offering a host of benefits to the medical personnel and patients alike,” states a TMR analyst. The global latex medical disposables market is also being driven by the growing awareness of consumers and healthcare organizations regarding the health benefits of using modern latex disposables, including the products made using the BARDEX I.C. infection control latex, and devices such as the three-way Foley catheter introduced by Medicine Industry, Inc.
Latex Allergies Hinder Market Growth
One of the key factors restraining the overall growth rate of the global latex medical disposables market is the relatively high number of people that incur latex allergies that bar them from using latex products. Latex allergy is one of the most prominent challenges faced by this market, in which several healthcare organizations are choosing non-latex products. Becton, Dickinson and Company, for instance, had shown that nearly 17 mn U.S. citizens are known to be allergic to latex. The global latex medical disposables market is additionally stifled by the high level of regional competition in the market, where players often have to cut prices beyond a favorable profit margin in order to stay in the market.
“Latex gloves continue to be the most-demanded product from the global latex medical disposables market, and is likely to continue dominating the demand charts over the coming years. At the same time, Foley catheters are expected to become a highly favorable segment for players over the coming years. Geographically speaking, the markets for latex medical disposables is quite strong in North America and Europe, but is showing an extremely high level of promise of growth in Asia Pacific, thanks to its booming growth rate in the implementation of better healthcare infrastructure,” adds the analyst.
The information presented in this review is based on a Transparency Market Research report, titled, “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.”
Key segments of the Global Latex Medical Disposables Market
Global Latex Medical Disposables Market, by Product Type
Global Latex Medical Disposables Market, by End User
Global Latex Medical Disposables Market, by Geography
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