Demand for medical gloves in GCC is anticipated to increase at a 9.2% CAGR through 2026. Elective treatments, including plastic surgeries and breast augmentation will continue to drive the demand in GCC. Further, increasing emphasis on healthcare and GCC’s push to become a major centre for medical tourism are also anticipated to boost local production and import of medical gloves in GCC.
Key Data Points
- By product type, the GCC medical gloves market segments include examination gloves, chemotherapy gloves, and surgical gloves. Among these, the examination and surgical gloves collectively accounted for a revenue share worth US$ 90 Mn in 2016.
- The key raw materials used to manufacture medical gloves includes latex, nitrile, vinyl, and polyisoperene. Among these, demand for medical gloves made with latex will continue to dominate the market. Latex gloves accounted for nearly 80% revenue share of the market in 2016, and are projected to increase at over 9% CAGR through 2026.
- By end-use, hospitals will continue to remain the largest end-users of medical gloves. In 2016, demand from hospitals for medical gloves was over US$ 66 million, and this is expected to witness annual growth rates of nearly 9% through 2026.
- Saudi Arabia remains the largest consumer of medical gloves in GCC. Medical gloves sales in Saudi Arabia accounted for over 75% revenue share of the overall GCC medical gloves market. In 2015, the Saudi Arabia market was valued at US$ 70 Mn; by 2026, this is anticipated to reach nearly US$ 185 Mn.
- In addition to Saudi Arabia, UAE is the other lucrative market for medical gloves in GCC. The UAE medical gloves market is anticipated to grow at 9% CAGR through 2026 and surpass US$ 44 Mn in revenues.
- Qatar and Bahrain, the other key markets for medical gloves in GCC, are expected to witness modest growth through 2026.
Key medical device companies, including Salalah Medical Supplies Mfg. Co. LLC, Hotpack Packaging Industries, Paul Hartmann AG, United Medical Industries Co. Ltd., Falcon (Falcon Pack), Deeko Bahrain, and NAFA.
This information is sourced from a recent report from Future Market Insights. Excerpts of the report can be accessed at http://www.futuremarketinsights.com/reports/sample/rep-gc-1943
This post has been seen 462 times.