According to a recent study, the global hand protection equipment market is expected to grow at a 6.7% CAGR from 2019 to 2028. This growth will be primarily driven by rising awareness about worker safety. There are several major players operating in the market. The research estimates that the global hand protection equipment market will reach USD 30.6 billion by 2028.
Increase in number of surgical procedures
An increase in surgical procedures requires more hand protection equipment, and studies show that surgical gloves should be the default choice for surgical staff. The risks of perforation vary widely by surgical type, ranging from 7% in urological to 65% in cardiac surgery. The rate of perforation is significantly higher in emergency surgeries. Perforation can be difficult to spot, and it may not be detected until after the surgery is over.
The use of hand protection equipment has helped reduce the incidence of surgical site infections. However, many surgical personnel are at risk of blood-borne infections. Perforation of surgical gloves can expose surgical personnel to blood and bodily fluids during emergency surgeries. Surgical teams can improve their gloving techniques and prevent this by improving their overall safety.
Growing demand for safety gloves
Growing awareness regarding workplace safety is driving manufacturers to create safety gloves for the industrial sector. Government regulations imposed on the workplace environment have made companies implement measures to improve safety standards. As a result, the safety gloves market is predicted to exceed nine billion dollars by 2024. Demand for these gloves is also fueled by the implementation of OSHA, ANSI, and EU standards. Moreover, growing industrial activity has increased the range of hazards that safety gloves are required for. These include hazardous chemicals, radiation, mechanical and electrical hazards, and microbial contamination.
To meet the growing demand for safety gloves, companies are focusing on product launches, joint ventures, partnerships, and innovations. This allows them to diversify their product portfolio and meet the growing demand in industrial, commercial, and utility sectors. Key manufacturers operating in this industry include Ansell Limited, Honeywell International, Top Glove Corporation Bhd, and Honeywell.
Major players operating in the market
The global hand protection equipment market is dominated by a number of companies. The key players in the market include Honeywell International Inc., 3M Company, and Alpha Pro Tech. The healthcare sector is expected to experience a considerable increase in demand for hand protection equipment over the forecast period, due to the increased risks associated with blood-borne pathogens. Other key players in the hand protection equipment market include Ansell Limited, Kimberly Clark Corporation, and Superior Gloves.
Major players operating in the market are increasingly focusing on expanding their presence and market shares. Some of the companies have recently announced major investments, such as setting up a production plant in Montreal to meet demand for PPE during the COVID-19 pandemic. Other companies have increased their product portfolios to compete for customers.