Surgical gloves are made from various polymers including natural rubber latex, vinyl, nitrile rubber, and neoprene. Surgical gloves provide protective barriers for healthcare workers and patients by reducing the risks of transmission of pathogens, chemical agents, and microorganisms. They also protect healthcare workers from bodily fluids, contaminated medical supplies or instruments, and infectious diseases. The growing risk of healthcare-associated infections and stringent regulations regarding the use of gloves in medical facilities are augmenting the demand for surgical gloves in India.

The global India Surgical Gloves Market is estimated to be valued at US$ 125.67 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The development of healthcare infrastructure in India offers lucrative growth opportunities for players in the India surgical gloves market. India has a shortage of hospital beds and healthcare professionals. According to the World Bank, India has only 0.7 beds per 1,000 people, which is much lower compared to the global average of 2.9 beds per 1,000 people. The Government of India has undertaken several initiatives to bridge this gap through public-private partnerships and improve access to healthcare. For instance, the government's efforts under the Ayushman Bharat initiative to set up 1.5 lakh health and wellness centres along with increasing the number of medical colleges are expected to boost surgical procedures and in turn, drive the demand for surgical gloves. Thus, the growing healthcare infrastructure in India presents substantial expansion opportunities for surgical gloves manufacturers over the forecast period.

Porter’s Analysis

Threat of new entrants: The Indian surgical gloves market has moderate threat from new entrants as it requires huge capital investments and technical expertise for manufacturing gloves as per international quality and safety standards.

Bargaining power of buyers: The bargaining power of buyers is high as there are many established players offering gloves at competitive prices in the market. Buyers can easily switch between brands.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as key raw materials like natural rubber latex and chemicals are globally available from multiple suppliers.

Threat of new substitutes: There is low threat from substitutes as surgical gloves made of natural rubber latex are considered the gold standard for high strength and barrier protection in surgeries and medical examinations.

Competitive rivalry: The market has high competitive rivalry among established players.

SWOT Analysis

Strength: India has a large national healthcare infrastructure and growing medical tourism which drives the demand for surgical gloves. The manufacturing costs are lower than developed markets.

Weakness: Dependence on imports for some key raw materials. Compliance to international quality standards increases production costs.

Opportunity: Growing middle-class population and rising incidence of chronic diseases and accidents are expected to boost the market. Scope for product innovation.

Threats: Export restrictions can impact supply costs. Imposition of customs duties on finished gloves impacts margins.

Key Takeaways

The Global India Surgical Gloves Market Size is expected to witness high growth aided by increased healthcare spending by the government, rising awareness about personal hygiene and surge in surgical procedures. The global India Surgical Gloves Market is estimated to be valued at US$ 125.67 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.

The Northern region holds the major share currently due to concentration of manufacturing units and presence of large private hospitals in Delhi NCR and cities of Uttar Pradesh. The Southern region is expected to grow at fastest pace during the forecast period led by states like Tamil Nadu, Karnataka and Telangana which are emerging medical hubs. Rising healthcare infrastructure is augmenting the demand.

Key players related content comprises Key players operating in the India surgical gloves market are Dow, Henkel, BASF, Nordson, LORD Corporation, H.B. Fuller, Siltech Corporation, Qualcomm, Broadcom, Skyworks Solutions, Qorvo. Key players are adopting technologically advanced equipment to produce high volume of gloves as per quality standards and expanding their manufacturing capacities to capture increasing demand.

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