South Korea Medical Gloves Market Value By Application (Surgical and Examination), By Material (Latex, Vinyl, Nitrile), By End-user (Hospitals, Diagnostic Laboratories, and Home Care) - By Industry Analysis, Statistics, Share & Forecast, 2023 – 2032

MVI Statistics and Viewpoints:

• South Korea Medical Gloves Market size exceeded USD 916.8 Million in 2022.
• The market is predicted to observe at a CAGR of over 9.8% from 2023 to 2032. 
• By the end of the forecast period, the industry is anticipated to reach a valuation of around USD 2.2 Billion.

Population demographics, healthcare expenditure, and disease prevalence all have an impact on the South Korean medical gloves market. The growing demand for healthcare services, including the use of medical gloves, is fueled by an aging population and the rising prevalence of chronic diseases. 

To get more info about this report - 

Market Overview:

The South Korea medical gloves market refers to the industry in South Korea that includes the production, import, distribution, and sale of medical gloves. Medical gloves are an essential component of healthcare settings because they protect healthcare professionals and patients during various medical procedures, examinations, and surgeries.

The market offers a wide range of medical gloves, including latex, nitrile, and vinyl gloves. Each type of glove has its advantages and applications, catering to the diverse needs of healthcare professionals. Latex gloves have traditionally been widely used, but due to the increasing prevalence of latex allergies, there has been a shift towards nitrile and vinyl gloves, which offer hypoallergenic alternatives. 

Stringent regulations and quality standards govern the production and distribution of medical gloves in South Korea. The government has implemented measures to ensure the safety and efficacy of medical gloves, thereby promoting consumer confidence. Manufacturers in the country adhere to these standards to maintain the high quality and reliability of their products. 

To get more info about this report - 

Growth Drivers:

• Increasing Emphasis on Hygiene and Infection Control: There is a growing awareness about the importance of maintaining hygiene and infection control in healthcare settings. Medical gloves serve as a critical barrier to prevent the transmission of pathogens and reduce the risk of cross-contamination. The emphasis on hygiene and infection control practices, particularly in hospitals and clinics, drives the demand for medical gloves.
   
• Rising Healthcare Expenditure: South Korea has been witnessing a steady increase in healthcare expenditure over the years. The government has been actively investing in healthcare infrastructure, promoting universal healthcare coverage, and encouraging advancements in medical technologies. The growing healthcare expenditure translates into higher demand for medical gloves as they are essential for routine medical procedures, examinations, and surgeries.
   
• Focus on Patient Safety: Patient safety has become a top priority in healthcare. Medical gloves play a crucial role in protecting patients from potential infections and contamination during medical procedures. Healthcare providers and regulatory bodies place significant emphasis on patient safety, creating a strong demand for medical gloves that meet stringent quality and safety standards.

Restraints:

• Limited Supply Chain Resilience: The COVID-19 pandemic highlighted the vulnerability of global supply chains, including the medical gloves industry. Disruptions in the supply chain, such as logistics challenges, restrictions on international trade, and raw material shortages, can hinder the availability and distribution of medical gloves. Ensuring a resilient supply chain and reducing dependency on a single source can mitigate such risks.

By Application Synopsys:                      

The South Korea medical gloves market is classified by application into surgical and examination. Among these segments, the examination segment is expected to hold the largest share of the South Korea market during the forecast period. Examination gloves are widely used in a range of healthcare settings, including hospitals, clinics, diagnostic centers, and ambulatory care facilities. These gloves are utilized in various routine medical examinations, diagnostic tests, and non-invasive procedures, resulting in higher overall demand compared to surgical gloves, which are used specifically for sterile surgical interventions.

By Material Synopsys:    

To get more info about this report - 

The South Korea medical gloves market is classified by material into latex, vinyl, nitrile, and others. The nitrile segment is slated to hold the largest share of the South Korea medical gloves industry during the forecast period. Nitrile gloves have gained significant traction due to their allergen-free nature, excellent barrier properties, and comparable tactile sensitivity to latex gloves.

Key Development:

• In February 2021, Ansell Limited disclosed the completion of its acquisition of Primus Gloves, a Thai manufacturer of cleanroom gloves.

Top companies includes in South Korea medical gloves market:

• Ansell Limited
• Hartalega Holdings Berhad
• Kossan Rubber Industries Bhd
• Top Glove Corporation Bhd
• Supermax Corporation Berhad
• Others

To get more info about this report - 

In-depth analysis of South Korea medical gloves market along with industry coverage and forecasting for the following segments:

Market Size, By Application

• Surgical
• Examination

Market Size, By Material

1. Latex
2. Vinyl
3. Nitrile
4. Others

Market Size, By End-user

• Hospitals
• Diagnostic Laboratories
• Home Care