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I AgreeAnalysis of Basin, Bowl and Cup market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
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.
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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 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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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.
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.
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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.
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.
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.
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:
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.
Attribute |
Details |
Forecast Period |
2022-2032 |
Historical Data Available for |
2017-2021 |
Market Analysis |
US$ Bn for Value |
Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
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The global Basin, Bowl and Cup market is worth more than US$212.6 Mn at present.
Value of Basin, Bowl and Cup are projected to increase at a CAGR of around 18.6% during 2022 – 2032.
Value of Basin, Bowl and Cup increased at a CAGR of around 15.8% during 2017 – 2021.
The main factors driving the growth of the Basin Bowl and Cup market include an increase in the number of hospitals across the globe which was also partially due to Covid-19. The industry is also growing because of the number of old age people rising in a
Top 5 countries driving demand for Basin, Bowl and Cup are U.S., U.K., China, Japan, South Korea.
North America is expected to grow at a CAGR of 19% of global Basin, Bowl and Cup Market in next ten years.
The European market for Basin, Bowl and Cup is projected to expand at a CAGR of around 19% during 2022 – 2032.