Latin America and the Caribbean: Surgical Glove Market 2024

Surgical Glove Market Size in Latin America and the Caribbean

After three years of growth, the Latin American surgical glove market decreased by -5.9% to $X in 2022. The total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +79.4% against 2016 indices. Over the period under review, the market reached the peak level at $X in 2021, and then fell in the following year.

Surgical Glove Production in Latin America and the Caribbean

In value terms, surgical glove production rose to $X in 2022 estimated in export price. The total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.7% against 2020 indices. The pace of growth was the most pronounced in 2019 with an increase of 40% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Surgical Glove Exports

Exports in Latin America and the Caribbean

In 2022, the amount of surgical gloves exported in Latin America and the Caribbean rose sharply to X tons, surging by 12% compared with 2021 figures. Over the period under review, exports showed a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of 58%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, surgical glove exports shrank slightly to $X in 2022. In general, exports saw resilient growth. The most prominent rate of growth was recorded in 2016 when exports increased by 47% against the previous year. The level of export peaked at $X in 2021, and then shrank slightly in the following year.

Exports by Country

In 2022, Cuba (X tons) represented the major exporter of surgical gloves, mixing up 42% of total exports. Panama (X tons) held a 16% share (based on physical terms) of total exports, which put it in second place, followed by Brazil (15%), Guatemala (9.2%) and Mexico (7.8%). Peru (X tons) and Barbados (X tons) held a minor share of total exports.

Exports from Cuba increased at an average annual rate of +34.7% from 2012 to 2022. At the same time, Brazil (+71.8%), Panama (+27.1%), Guatemala (+25.3%), Peru (+11.0%) and Barbados (+10.8%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +71.8% from 2012-2022. Mexico experienced a relatively flat trend pattern. From 2012 to 2022, the share of Cuba, Brazil, Panama and Guatemala increased by +35, +15, +11 and +5.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest surgical glove supplying countries in Latin America and the Caribbean were Cuba ($X), Panama ($X) and Mexico ($X), with a combined 73% share of total exports. These countries were followed by Brazil, Peru, Guatemala and Barbados, which together accounted for a further 21%.

Brazil, with a CAGR of +57.5%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, with a decrease of -13.1% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the export price increased by 32%. The level of export peaked at $X per ton in 2021, and then reduced in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+14.4%), while the other leaders experienced more modest paces of growth.

Surgical Glove Imports

Imports in Latin America and the Caribbean

In 2022, after two years of growth, there was significant decline in overseas purchases of surgical gloves, when their volume decreased by -5.5% to X tons. The total import volume increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 32%. The volume of import peaked at X tons in 2021, and then declined in the following year.

In value terms, surgical glove imports dropped to $X in 2022. In general, imports, however, continue to indicate a temperate expansion. The most prominent rate of growth was recorded in 2020 with an increase of 43% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

Peru represented the key importing country with an import of around X tons, which accounted for 30% of total imports. Argentina (X tons) ranks second in terms of the total imports with a 12% share, followed by Colombia (10%), Mexico (7.1%), Honduras (6.5%) and Chile (5.9%). Guatemala (X tons), Ecuador (X tons), Costa Rica (X tons), Panama (X tons), Suriname (X tons), Paraguay (X tons) and Brazil (X tons) held a little share of total imports.

Imports into Peru increased at an average annual rate of +7.6% from 2012 to 2022. At the same time, Panama (+27.5%), Suriname (+18.5%), Honduras (+8.9%), Chile (+8.8%), Guatemala (+8.7%) and Argentina (+6.5%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +27.5% from 2012-2022. Colombia experienced a relatively flat trend pattern. By contrast, Ecuador (-2.3%), Mexico (-4.5%), Paraguay (-5.2%), Costa Rica (-6.8%) and Brazil (-9.2%) illustrated a downward trend over the same period. Peru (+14 p.p.), Argentina (+4.7 p.p.), Honduras (+3.4 p.p.), Chile (+3.1 p.p.), Panama (+2.1 p.p.) and Guatemala (+2 p.p.) significantly strengthened its position in terms of the total imports, while Brazil, Costa Rica and Mexico saw its share reduced by -3%, -3.2% and -5.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Peru ($X), Argentina ($X) and Mexico ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 48% of total imports. These countries were followed by Colombia, Honduras, Chile, Guatemala, Costa Rica, Ecuador, Panama, Brazil, Paraguay and Suriname, which together accounted for a further 39%.

Among the main importing countries, Panama, with a CAGR of +34.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, falling by -5.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2021 an increase of 29%. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per ton), while Suriname ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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