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Huge market potential of medical rubber gloves in China
Datuk Seri Mah Siew Keong, Minister of Plantations and Commodities of Malaysia, said, "Considering that the average annual consumption of medical gloves by Chinese people is only 3 pairs, compared to the global average annual consumption of 25 pairs of medical rubber gloves, the Chinese market has great potential. If Chinese people increase the average annual consumption of medical rubber gloves to 8 or 10 pairs, it will further expand Malaysia's exports of medical rubber gloves to China
He stated that Malaysia continues to export medical rubber gloves to China, and added that China is very concerned about the quality of medical gloves from Malaysia. He said, 'That's why we have become a major exporter of medical rubber gloves from China,' and added that Malaysia has over 20 rubber manufacturers
Glove manufacturers export goods to China, including Top Glove Corp Bhd.
Over the years, many rubber medical products from Malaysia that meet foreign standards and regulations, such as medical gloves, condoms, and balloon catheters, have entered the Chinese market at competitive prices.
Mah said, "In the past 10 years, Chinese medical consumption has experienced double-digit growth, accounting for 5.6% of GDP. Considering China's population and consumption patterns, the medical market in China is expected to grow significantly in the future, and Malaysian manufacturers should actively collaborate with China to develop the Chinese market. ”
By 2020, China's medical consumption market will grow from the current $640 billion to $1 trillion.
Appropriate medical gloves can protect people's lives and prevent AIDS, hepatitis B, H1N1 and Zika virus. Mah said, "As the service industry takes measures to combat these diseases, the frequency of use of medical rubber gloves is expected to continue to increase in the future
Malaysia's exports of medical rubber gloves to China have grown at an average annual rate of 15.2%. In 2015, China became Malaysia's fourth largest exporter of rubber products, up from 12th place 10 years ago.
