Basin, Bowl and Cup Market
Basin, Bowl and Cup Market Analysis by Type (Basin, Bowl, Cup), by Material Type (Plastic (Polypropylene), Stainless steel), by End-user, Global Forecast 2022-2032
Basin, Bowl and Cup Market Outlook
Global sales of Basin, Bowl and Cup in 2021 was held at US$ 212.6 Mn. With 18.6%, the projected market growth during 2022 - 2032 is expected to be significantly higher than the historical growth. Cup is the top product type and it is expected to grow at the highest CAGR of 18.1%, during 2022 – 2032.
Key Points Covered in Basin, Bowl and Cup Industry Survey:
- Market Estimates and Forecasts (2017-2032)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- COVID-19 Impact on Basin, Bowl and Cup and How to Navigate
- Recommendation on Key Winning Strategies
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Revenue of Basin, Bowl and Cup Market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032
As per the Basin, Bowl and Cup industry research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, market value of the Basin, Bowl and Cup industry increased at around 15.8% CAGR, wherein, countries such as the U.S., China, UK, South Korea and Japan held significant share in the global market.
The constant surge in urbanization is propelling the demand for various commodities which is consequently driving the need for logistics. Owing to this, Basin, Bowl and Cup market is projected to grow at a CAGR of 18.6% over the coming 10 years.
- The Basin, Bowl and Cup market reached a valuation of US$ 248.6 Mn in 2022 increased by 17% over the last year. Fact.MR estimates that Basin, Bowl and Cup revenue will grow 5.4X from 2022 to 2032, reaching nearly US$ 1.3 Bn in 2032.
- Hospitals and clinics segment as end-users accounted for the largest revenue share of over 35% in 2021.
- Cups were the top product type and revenue through this segment is expected to grow at a CAGR of 18% in the next ten years.
- Stainless steel was the top material type and it held the largest share of 40% in terms of revenue generation.
What Factors are leading to Growth of Basin, Bowl and Cup industry?
The use of Basin, Bowl and Cup has been increasing by the year owing to the increase in the elderly population around the world. In recent years, the world has witnessed growth in the number of old-age people who are the prime consumers of Basin, Bowls and Cups and it has led to an increase in the overall sales in the market size. This has also increased due to the Covid-19 pandemic, which has caused an increase in the number of patients and therefore an increase in the number of hospitals, and an increase in the usage of Basin, Bowls and Cups.
Besides, sales of Basin, Bowls and Cups have also been increasing due to increasing expenditure of government on reimbursement for surgeries. Healthcare costs in the U.S. exceeds 17% of GDP and continue to rise. Other countries spend low GDP on health care, however they are on the same uptrend.
Longevity and the enhanced efficacy of medical advances are among the reasons for the increase in prices from healthcare services. Upwardly spiralling incentives also figure into skyrocketing prices. Third-party payers (health insurance companies and government payers) redistribute the premium paid, not the outcomes displayed on them. Patients tend to take little responsibility paying for medical services that they demand.
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What are the Key threats to Basin, Bowl and Cup Market?
Growth rates are likely to be reduced due to an increase in the amount of reusable bowls, basins, and cups that can lead to hospital-acquired infections (HAIs). Contamination is an issue stemming from microorganisms or pathogens, or minor patient belongings contaminated with pathogens. Stainless steel basins and bowls are an impediment that can reduce the need for bowls, cups and basins. Technological advances such as single-use pools and disposable wash basins displaced traditional stainless steel basins and bowls. This change was done in order to reduce the likelihood of unintentional contamination.
Disposable washbasins and bowls can help limit the spread of the infection. To be able to take advantage of new technologies, disposable washbasins and cups will likely drive industry growth. Restraints on the availability of raw materials in subsequent decades will likely have a restraining impact on the industry. Improper disposal, on the other hand, can lead to waste that can have a negative impact on the market.
Which Region is projected to Offer the Largest Opportunity for Basin, Bowl and Cup?
The Asia Pacific region is expected to register the highest CAGR of 20% during the forecast period due to increased demand for Basin, Bowl and Cup in developing countries, especially India and China.
It has been noted that the opportunities in the market specifically for Asia Pacific region have spiked due to rising healthcare expenditure and rising population. The Asia Pacific region expects to occupy a dominant position in the global market due to the growing illnesses and some medical concerns in the region.
In addition, increasing numbers of surgeries, increasing disposable income, and the development of various new drugs will stimulate demand for opportunities in the basin, bowl, and cup markets over the next ten years. Significant increases in availability and accessibility of medical infrastructure, and government initiatives to increase the number of hospitals and improve medical tourism are expected to have a significant impact on market size for the Asia Pacific region.
Which Country Lies at the Centre-stage for Basin, Bowl and Cup Revenue?
The United States tops the global demand for disposable medical measuring cups, basins and bowls. The market in the country is projected to register a CAGR of 19.6%. This is due to an increase in illnesses and other health problems that are driving the sales of medicines, including medicine supplies. In addition, the development of various new drugs by pharmaceutical companies to cure the disease will lead to the sale of basins, bowls and measuring cups in the country.
Why Cups Dominate the Basin, Bowl and Cup Market Revenue?
Among product types, cups held the largest revenue share of over 45% in 2021 and is expected to register a significant CAGR of 18.1% during the forecast period. The product type segment can be divided into Basin, Bowls and Cups. The Cups segment dominated the market in 2021 because materials such as plastic, stainless steel, and paper cups are used to hold liquid or solid chemicals for consumption.
All types of medicine cups have the advantage of being able to take a defined amount of medicine. This significantly reduces the risk of overdose. The cups are easy and convenient to use and can be discarded after use or reused after a complete sterility process, reducing the risk of contamination. Due to the benefits of the medicine cup, end-user demand is high and sales in the cup segment are expected to increase.
The rapid expansion of the segment is due to the growing need for convenience when taking medications that are contributing to the growth of the cup market. The need for cups is also aggravated by the growing demand for over-the-counter medicines such as cough syrups and similar products. Demand for cups is expected to increase due to the various benefits offered to end users. Also, drug cup sales are expected to grow significantly over the next few years due to cost-effectiveness and the convenience of drug dosage calculations.
Which Material Type Recorded Highest Demand in the Basin, Bowl and Cup Market?
Stainless steel had the largest share of sales with over 40% and a CAGR of 16.6%. This is because stainless steel is corrosion resistant, tough and ductile, and requires less maintenance. Due to the above properties of stainless steel, the use of materials in consumer products such as washbasins, bowls and cups is increasing. In addition to its attractive appearance, stainless steel has many other properties that are important for the hygienic maintenance of medical facilities and is expected to drive product demand in the coming years. However, people are also switching to disposable medical supplies, which may hamper its growth.
How Has COVID-19 Impacted Revenue Generation from Basin, Bowl and Cup Market?
The impact of COVID-19 on Basin, Bowl and Cup was not much seen. Despite the heavy blows to almost all the industries, the Basin, Bowl and Cup industry continued to grow positively at a rate of 17% over the last year. The reason for the growth of the industry during the pandemic may be credited to the growing concern and awareness among the customers regarding their health and an increase in the number of hospitals in countries owing to the Covid-19 crisis.
The key players such as Medtronic; Narang Medical Limited; IndoSurgicals Private Limited; Advin Health Care; Key Surgical adopt several organic and inorganic strategies to enhance their revenue and market standings.
Some of the recent developments of key Basin, Bowl and Cup providers are as follows:
- In July 2021, H&T Manufacturing Ltd., a manufacturer of drug-delivery systems and pharmaceutical components, announced its acquisition of Novelex AG, a manufacturer of drug-delivery systems and pharmaceutical components.
- In 2020, Baxter claimed to offer dry peri strips with secure grip technology for reliable staple reinforcement during surgery.
- In January 2020, LLC Farmmash announced the SD15 Dosing Cup, which has a capacity of 20 to 25 ml and can be equipped with a child resistance cover. This is expected to boost market growth in the near future.
- In 2020, Fresenius Medical Care AG & Co. KGaA announced to invest US$ 130 Mn to expand its blood transfusion and apheresis disposable plant in the Dominican Republic. Additional facilities have been upgraded with manufacturing machines that create plasma drugs, plasma kit production lines, and sterile storage silos. This makes room for twice the clean room and storage capacity.
Similarly, recent developments related to companies offering Basin, Bowl and Cup have been tracked by the team at Fact.MR, which are available in the full report.
Basin, Bowl and Cup Market Report Scope
Historical Data Available for
US$ Bn for Value
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Market Segments Covered in Basin, Bowl and Cup Industry Analysis
By Type :
By End-user :
- Homecare Settings
- Long-term Care Facilities
- Hospitals & Clinics
- Other End-Users
By Material Type :
- Plastic (Polypropylene)
- Stainless steel
- Other Material Types
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