Overview

The increased need to take precaution among consumers and this ongoing pandemic stress has led to an increase in the need for equipments which help in containing any sorts of infectious spread, in all the necessary habitats and one of those equipments are Disposable gloves.

The current medical device industry in India is worth $11 billion and is expected to to read higher $50 billion by 2025. Of which, the Indian disposable gloves market generated $181.2 million in 2019 and is expected to reach $282.2 million by 2027.

The increased need of disposable gloves of various varieties in terms of materials applications across various sectors and constant need to maintain sanitation, safety and caution has increased the demand for this product across the world. These are more than just any reasons for you take up this disposable gloves business, giving you an opportunity to serve your community while you make some business yourself and here’s how.

Market potential

Disposable gloves are the gloves worn to help keep the germs and pathogens to spread from one person to another and are disposed and dumped once their purpose has been met with

The market potential for this disposable gloves market is vast contributing to the following reasons

• Increased need for ensuring safety, hygiene, sanitation and safety among the consumers.

• Increased stress on rules and regulations implemented by the medical and health boards to maintain hygiene.

• Increased spread of pathogens (virus, bacteria etc) and the ongoing pandemic.

• Increased expenditure on and need for  healthy and medical equipments.

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The market potential for this disposable gloves business can be defined and elaborated further on the following basis

Licenses required

The license required to set up a disposable gloves business is as follows

• Certificate by CODOC
• GST registration
• Trade license
• NOC by state pollution
• Standard compliance
• AQL (Acceptable quality limit) – 2.5%
• Sterility rest passing certification.

Investment required

The investment required to set up a disposable gloves business is  ₹40000-₹1lakh.

Profits made

The profits made from setting up a disposable gloves business is ₹3lakh per year.

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Target consumers

The target consumers for this business are as follows

Restaurants and cafés: Sectors like restaurants, cafés, resorts etc use polyethylene disposable gloves as a part of preparation of food while maintaining the hygiene and sanitation standards and protocols.

Hairdressers:  The hairdressers also make use of vinyl disposable gloves as part of their profession for the purpose of dying hair, colouring and for applying henna so that the colour is not lost on the skin.

Beauticians: The beauticians make use of latex disposable gloves which have a one time use as a part of their business of facials, Face  massages etc in order to avoid any sort of transmission of germs and bacteria from one client to another.

Mechanics: The mechanics make use of disposable gloves so as to prevent a contact with any hazardous liquid with the gloves acting as a protection while dealing with chemicals in repairing and maintaining vehicles.

Laboratories: laboratories make use of disposable gloves to shield them from exposure of any harmful and strong chemicals, liquids etc while preparing vaccines, medicines etc.

Hospitals: Hospitals make use of the nitrile disposable gloves. These are worn by nurses, doctors, other staff etc to contain the spread of pathogens, infections from the infected person to others.

Diagnostic centres: These also make use of nitrile disposable gloves while testing and transmitting the blood samples to contain the spread of harmful elements on the skin.

Area required

The area required to set up this disposable gloves business is 500-600 sq fr.

Business model 

The business model for a disposable gloves business can be defined using these four variants

Value proposition: The value which this business is likely to provide to you is

• Easily available raw materials
• Larger target consumer base
• Wide scope for expansion

Marketing strategy: The marketing strategy that can be implemented by your business is

• Print media: Blogs and articles justifying the claims of the quality of your disposable gloves.

• Sales promotion: bulk and cash discounts.

• PR: tie-ups with hospitals, PPE manufacturing companies etc.

Growth

The disposable gloves business has witnessed and has potential the for the following growth prospects

• India’s medical equipment exports is expected to reach $10 billion by 2025.

• The Indian disposable gloves market is expected to grow at a CAGR of 5.8% between 2020-2027.

• The production of PPE kits of whose the disposable gloves is an important element has increased its production from 0 to 4.5 lakhs per day.

Profit margin

The profit margin which this business is likely to yield is 40%-60%.

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Suggestions

It’s time you tighten and pull your gloves and take this business opportunity and here’s why

• Firstly, the ongoing pandemic of COVID-19 has increased the demand for the disposable gloves not only in the healthcare but also among the laymen to contain the spread of this virus.

• Secondly, the investment involved in producing the disposable gloves is minimal with and has higher profit margins while catering to both online and offline market.

• Lastly, the consumer niche to cater to with this product is speed among various sectors of the economy.