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.
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- 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.
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.
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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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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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