The global rubber gloves market is anticipated to witness a compound annual growth rate of 7.95% during the forecast period to reach a total market size of US$3.714 billion by 2023, increasing from US$2.347 billion in 2017.
Growing global healthcare industry is one of the major drivers of global rubber gloves market. Rising global aging population and prevalence of chronic diseases such as obesity and diabetes are augmenting the need for more healthcare solutions and services which, in turn, is fuelling the demand for medical gloves.
Stringent workers’ safety regulations coupled with strict regulatory standards for maintaining hygiene at the workplace in industries such as food processing further bolsters the growth of global rubber gloves market. However, fluctuating prices of key raw materials required to manufacture rubber gloves hamstring the growth of global rubber gloves market.
Geographically, APAC will witness the fastest regional market growth during the projected period owing to expanding healthcare infrastructure in emerging economies such as China and India along with booming medical tourism industry in Southeast Asian countries.