Basin, Bowl And Cup Industry Overview
The global basin, bowl, and cup market size was valued at USD 179.9 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 13.9% from 2021 to 2028.
A surge in the number of surgical procedures and the increasing elderly population are driving the market. One of the key factors influencing the growth of the market is the growing requirement to deliver improved patient care systems in a sterile environment across various healthcare facilities. Healthcare workers and surgeons are increasingly requesting operating rooms with technologically advanced products like advanced emesis basins, which are used in medical and surgical wards to collect soiled dressings and other medical waste. Furthermore, such products perform a variety of functions, including collecting tissue, fluids, and foreign objects removed from a patient’s body and collecting rinse water used during dental hygiene operations. Thus, this, in turn, is likely to have a significant influence on the global market.
Gather more insights about the market drivers, restrains and growth of the Global Basin, Bowl And Cup Market
As the prevalence of pathological and physiological problems has increased, so has the number of surgical procedures. Furthermore, minimally invasive procedures are gaining favor among patients due to their numerous benefits, which include reduced trauma, lower costs, and shorter hospital stays. All of these issues heighten the need for medical facilities to be upgraded with more modern and efficient equipment, which is eventually expected to contribute to the global expansion of the market.
A significant increase in the availability and accessibility of healthcare facilities, particularly in emerging economies, and government initiatives to increase the number of hospitals and improve medical tourism are expected to have a significant impact on the market growth.
Apart from that, manufacturers are focusing on creative product introductions in order to expand the penetration and acquire a competitive advantage. Partnerships and collaborations are also employed by producers in the basin, bowl, and cup business to enhance their reach and consumer base. For instance, in October 2020, through a U.S. subsidiary, STERIS plc has reached a formal contract to purchase Key Surgical, a portfolio firm of Water Street Healthcare Partners, LLC, for USD 850 million. STERIS enhanced, complemented, and expanded its product portfolio and reach around the world with this acquisition, which is likely to boost the product demand in the near future.
The future availability of raw resources may limit the expansion of the market. In addition, rising raw material prices may lead to price inflation, which may hinder market expansion. Incorrect disposal, on the other hand, might result in waste, which can have a detrimental impact on the market.
According to the WHO, in May 2020, there have been more than 42,48,389 COVID-19 reported cases and 2,94,046 deaths globally. The emergence of the outbreak of Covid-19 has shown a positive and negative impact on the pharmaceutical, medical device, and life science industries. The market for basin, bowl, and cup remained unaffected due to COVID-19. The pharmaceutical industry is the major application for disposable medicine cups, which increased during the COVID pandemic, which, in turn, is expected to boost the demand for basins, bowls, and cups.
To avoid infection and contamination, the pandemic spawned a slew of pharmaceutical and medical device products, the majority of which were disposable. Because the virus is propagated by human touch, disposable products were recommended to prevent the infection from spreading. To consume the medication dose, medicine cups were required. Additionally, the fact that these cups allow for precise doses contributed to the benefits for end users. During the COVID pandemic, demand for basins, bowls, and cups increased significantly.
Rising medical facility investments and an aging population are predicted to drive the demand for basins, bowls, and cups. Furthermore, as the elderly population grows, so does the number of health difficulties and diseases. Over the projected period, this trend is expected to fuel the growth of the global market. The domestic population is expected to grow by 17% between 2010 and 2020, according to the U.S. Census Bureau. In addition, according to census data, those over the age of 65 are the fastest increasing demographic in the region, growing by more than 50% between 2010 and 2020.
Furthermore, the development of innovative technical solutions will assist the market growth. The global market is extremely fragmented and competitive due to the presence of both domestic and international companies. To stay afloat in the industry, players are focusing on cost-cutting.
In addition, basins, bowls, and cups are commonly used in healthcare institutions, laboratories, and other end-user applications for medicine consumption and sample collection. As a result, demand for basins, bowls, and cups is likely to rise.
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Market Share Insights
- March 2021: Origin Pharma Packaging has announced the inauguration of a new warehouse and logistics facility in Scunthorpe, North Lincolnshire, to meet the increased demand.
- January 2020: LLC Farmmash introduced the SD-15 dosing cup, which has a capacity of 20 ml to 25 ml and can be equipped with a child resistance cover, which is anticipated to boost the growth of the market in the near future.
- April 2018: According to the Press Association, the National Health Service (NHS) in England has used more than half a billion throwaway cups in the previous five years. Disposable cups are used by the NHS for cold and hot drinks and administering drugs.
Key Companies profiled:
Some prominent players in the global basin, bowl and cup market include
- 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
- Sunflower Medical Ltd.
- The Vollrath Company, LLC
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