Market Trends of Latex Medical Disposables Industry
Hospitals Segment is Expected to Hold a Significant Market Share Over The Forecast Period
The hospital segment is expected to hold a significant market share owing to the rising hospital-acquired infections and increasing prevalence of chronic diseases leading to longer hospital admissions.
The high burden of chronic diseases such as cancer and cardiovascular diseases is associated with long hospital stays for treatment and surgical procedures, which propels the use of latex medical disposables. For instance, the data updated by Cedars-Sinai in January 2022 stated that coronary artery bypass graft surgery (CABG), also known as coronary artery bypass or bypass surgery, is the most common heart surgery, and more than 300,000 people have successful bypass surgery in the United States each year. Therefore, the high cardiac surgical procedures in hospitals are expected to propel the use of latex gloves, latex foley catheters, and probe covers, thereby fuelling the segment's growth.
The high burden of cancer worldwide is expected to boost the demand for chemotherapy and surgical therapy, which requires wearing disposable gloves to prevent the transmission of harmful chemicals. For instance, as per the Australian Institute of Health and Welfare (AIHW) 2021 report, a total of 150,782 new cancer cases were estimated to be reported in Australia in 2021. Out of the total number of cancer cases, breast cancer cases were estimated to be 20,030, lung cancer with 13,810 new cases, and prostate cancer with 18,110 cases were estimated to occur in 2021. Therefore, the high burden of cancer is expected to increase the hospitalized patient pool, which is further expected to propel the utility of medical disposables and boost the segment's growth during the forecast period.
North America Expected to Hold a Significant Market Share Over The Forecast Period
North America is expected to hold a significant market share owing to factors such as the rising incidence of chronic diseases leading to more extended hospital stays, awareness regarding hospital-acquired infections, well-developed healthcare infrastructure, and a high concentration of market players.
Ultrasound is used for breast cancer screening, which increases the use of latex probe covers. For instance, as per a Statpearls article updated in September 2022, breast ultrasound is performed for the diagnosis of breast cancer amongst women. Also, according to the American Cancer Society 2023 report, an estimated 0.3 million new breast cancer cases are expected to be diagnosed in the United States in 2023. Furthermore, as per a Statpearls article updated in September 2022, roughly 1.3 million women in the United States undergo a cesarean section every year. Therefore, the high burden of such diseases and surgical procedures boosts the use of latex medical disposables during treatment and examination.
Furthermore, the Centers for Disease Control and Prevention (CDC) data in July 2022 showed that coronary heart disease is the most common type of heart disease. Approximately 20.1 million adults of age 20 and older have the disease in the United States. As per the CDC data, every 40 seconds, someone suffers from a heart attack, and nearly 805,000 people in the United States have a heart attack every year. Thus, the high burden of cardiovascular diseases is expected to create demand for heart surgeries, further demanding the availability of foley catheters, probe covers, and other medical disposable products, ultimately fuelling the market growth in the region.
Therefore, factors such as the high burden of chronic diseases such as cancer and cardiovascular diseases are expected to propel the utility of latex medical disposables in the region during the forecast period.
