According to analysts at The Freedonia Group, as the COVID-19 pandemic spreads worldwide, demand for medical gloves is skyrocketing but supplies are short due to production slowdowns and restrictions on trade.
Beyond the current increase in the number of hospitalizations, other factors are also driving demand for gloves:
- a sharp increase in the number of gloves used per healthcare worker, especially outside of hospitals
- an increase in the use of medical gloves by non-medical personnel
- an increase in prices due to temporary production reductions and product hoarding
Growth, currently in the double digits, is expected to return to more sustainable levels, forecast to increase 5.7% per year through 2024. Demand will continue to be driven by developing markets, as these countries gradually improve their healthcare standards and hygiene practices. In developed markets, growth will be supported by aging populations but restrained by market maturity and trends toward telehealth.
Learn more about the short and long term trends for examination, surgical and laboratory gloves in the new Global Disposable Medical Gloves: COVID-19 Impact Analysis. The report also provides perspective with analysis of virus trends, patient activity and supply chain issues.