Rising Medical Tourism is the Future Trend for LATAM Disposable Surgical Gloves Market
According to our new research study on "LATAM Disposable Surgical Gloves Market Forecast to 2030 – Regional Analysis – by Material, Form, and End User," the LATAM disposable surgical gloves market size was valued at US$ 190.08 million in 2022 and is expected to reach US$ 284.24 million by 2030. It is projected to register a CAGR of 5.2% during 2022–2030.
Latin America is among the fastest-growing regions for the medical industry. The growing medical tourism, increasing investments for developing healthcare infrastructure, and growing number of hospitals and clinics are leading to the demand for medical consumables, including disposable surgical gloves. According to the Pacific Prime Latin America article published in July 2023, Latin America has over 19,000 hospitals. Brazil is the leading country in the region, surpassing the number of hospitals in the US; in 2023, the country had a count of 6,642 hospitals. In recent years, the medical industry has drastically transformed and adopted minimally invasive surgeries. Countries such as Brazil, Mexico, Costa Rica, Argentina, Colombia, and Panama have well-established medical tourism in Latin America, offering medical care at cheaper rates under medical tourism plans. Brazil is well-known for aesthetic and cosmetic procedures, and Mexico is well-known for surgical procedures. The countries have attracted the maximum number of patients from the US and Canada, as Latin American countries offer more convenience and have improved medical capabilities. The Pacific Prime Latin America article published in July 2023 also revealed that medical procedures in Mexico and Costa Rica could save up to 36–89% and 44–89%, respectively, to the patients compared to the costs in the US.
Region Analysis – LATAM Disposable Surgical Gloves Market
LATAM Disposable Surgical Gloves Market Size and Forecasts (2020 - 2030), Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Material (Latex, Nitrile, Vinyl, Neoprene, Polyisoprene, and Others), Form (Powder and Powder-Free), End User (Hospitals and Clinics, Ambulatory Surgical Centers, and Others), and Country (Brazil, Mexico, Columbia, Costa Rica, and Rest of LATAM)
LATAM Disposable Surgical Gloves Market to Grow at a CAGR of 5.2% to reach US$ 284.24 million from 2022 to 2030
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Similarly, countries such as Chile, Peru, Cuba, and the Caribbean Islands are witnessing good growth in their medical tourism. The growing medical tourism trend in Latin America is expected to be similar in the coming years. It will likely boost demand for disposable surgical gloves, leading to market growth. Moreover, the COVID-19 pandemic has widely helped change the healthcare landscape in the region; it has evolved the medical industry and is expected to show significant growth in the future.
The report segments the LATAM Disposable Surgical Gloves Market as follows:
By material, the LATAM disposable surgical gloves market is segmented into latex, nitrile, vinyl, neoprene, polyisoprene, and others. The nitrile segment was the largest market share holder in 2022 and is anticipated to register the highest CAGR during 2022–2030.
Based on form, the LATAM disposable surgical gloves market is categorized into powder and powder-free. In 2022, the powder-free segment held a larger market share and is estimated to register a higher CAGR during 2022–2030.
On the basis of end user, the LATAM disposable surgical gloves market is segmented into hospitals and clinics, ambulatory surgical centers, and others. During 2022–2030, the hospitals and clinics segment is estimated to held the largest market share and is anticipated to register the highest CAGR.
The LATAM disposable surgical gloves market is segmented into Brazil, Mexico, Columbia, Costa Rica, and the Rest of LATAM. The disposable surgical gloves market’s growth in the region is defined due to the increasing import of medical consumables, significantly rising medical tourism, increasing healthcare infrastructure, and a growing number of surgical procedures. Mexico is the second leading market in the region. Mexico is among the well-established markets for disposable surgical gloves in the region. The growth of disposable surgical gloves is largely driven by the number of cosmetic surgeries performed. Orthopedic surgeries, such as hip and knee replacement, are performed at half the cost charged in the US. Thus, Mexico witnesses a notable inflow of patients from the US seeking surgical procedures. According to Healthcare.com, ~780,000 people travelled from the US to Mexico for medical care in 2022. According to Patients Beyond Borders, nearly 1.2 million patients travel to Mexico from the US for medical treatment annually. Thus, the growing number of patients in the country is leading to increasing surgical procedures, contributing to the LATAM disposable surgical gloves market growth.
The growing medical tourism in the country is enabling the rise in the number of patients traveling across the US border. Mexico has promoted medical tourism over the years and has received accreditation standards, which are used to accredit hospitals in the US. Thus, medical tourism is a prime factor leading to the growing demand for disposable surgical gloves, which in turn is leading to LATAM disposable surgical gloves market growth.
Ansell Ltd, Ambiderm SA de CV, B. Braun SE, Degasa SA de CV, Cardinal Health Inc, Top Glove Corp Bhd, Medline Industries LP, Molnlycke Health Care AB, Sterimed Medical Devices Pvt Ltd, and Henry Schein Inc. are among the leading companies operating in the LATAM disposable surgical gloves market.
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