The market for plates, bowls, and cups was estimated to be worth about US$ 212.6 Mn. In all, it is predicted that sales of cups, bowls, and basins would total US$ 248.6 Mn in 2022. The market is anticipated to expand between 2022 and 2032 at a CAGR of 18.6%.
Consumption of bowls, cups, and other tableware is expected to rise among the elderly population. Their use will increase significantly, particularly for providing geriatric care. Against this context, the market stands to benefit from the rise in public healthcare spending in nations like the United States, the United Kingdom, India, and others. Governments’ increasing expenditures to advance medical tourism and build out their medical infrastructure will create favourable conditions for the basin, bowl, and basins market.
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Surging demand for reusable or disposable products to reduce the risks of contamination is projected to create new avenues for the growth in the market. Also, increasing demand for advanced and improved patient care systems or products across various healthcare facilities in economies, such as China, India, the U.S., and the U.K. is bolstering the market. Rising need for medicine consumption and sample collection in healthcare institutions, laboratories, and other end users is estimated to drive the market. Besides this, the increasing demand for consumption of defined dosage of medicines is projected to surge the demand for medicine cups. This, in turn, will propel growth in the market.
Key Takeaways:
- The U.S. is estimated to lead the global basin, bowl and cup market, registering growth at a CAGR of 19.6%.
- Based on type, the cup segment is expected to dominate the market, exhibiting a CAGR of 18.1% from 2022 to 2032.
- In terms of material type, the stainless steel segment is projected to hold a maximum share of over 40% during the forecast period.
- Asia Pacific is expected to register growth at 20% CAGR until 2032.
- By end users, the hospitals and clinics segment held a maximum share of nearly 35% in 2021.
Growth Drivers:
- Rising demand for the maintenance of hygiene and appeal in medical facilities is projected to increase the sales of basin, bowls and cups in the healthcare sector.
- Increasing production of new drugs to offer novel treatment for chronic diseases is likely to drive the demand in the coming years.
Competitive Landscape:
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.
Key Companies Profiled by Fact.MR
- Medtronic
- Narang Medical Limited
- IndoSurgicals Private Limited
- Advin Health Care
- Key Surgical
- Cardinal Health
- GPC Medical Ltd.
- Medegen Medical Products
- Med-Vet International
- DESCO Medical India
More Valuable Insights on Basin, Bowl and Cup Market
Fact.MR, in its latest report, offers a 360-degree view of the market analysis on the global basin, bowl and cup market, covering unbiased analysis for the forecast period of 2022 to 2032. This survey also offers insights into the key factors promoting the growth of the basin, bowl and cup market through detailed segmentation as follows:
By Type:
- Basin
- Bowl
- Cup
By End-User:
- Homecare Settings
- Long-term Care Facilities
- Hospitals & Clinics
- Other End-Users
By Material Type:
- Plastic (Polypropylene)
- Stainless steel
- Other Material Types
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
Key Questions Covered in the Basin, Bowl and Cup Market Report
- What is the expected growth rate of global basin, bowl and cup market during 2022-2032?
- What is the estimated market revenue of basin, bowl and cup market in 2022?
- Which are the factors impeding growth of the global basin, bowl and cup market?
- Which are critical factors driving the growth in the global basin, bowl and cup market?
- Who are the key players operating in the global basin, bowl and cup market?
- What is expected market value of global basin, bowl and cup market during the forecast period?
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