by The Surgical Sinks Market is estimated to be valued at US$ 790.7 Mn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Surgical sinks are special sinks designed to maintain high standards of hygiene in operation theaters and other clinical settings. Surgical sinks are made using materials like stainless steel which can be easily cleaned and sanitized. They have features like anti-splash rim, pull-up waste system and pedal or sensor operation to minimize hand contact. Sinks are crucial infrastructure in hospitals and clinics for maintaining hygienic environment required for surgeries and other clinical procedures.
Market Dynamics:
Growing healthcare expenditure and investments in healthcare infrastructure expansion are major drivers bolstering the growth of surgical sinks market. According to WHO, global healthcare spending is expected to increase from US$ 8.5 trillion in 2020 to US$ 10 trillion by 2022. Modernization and upgrade of medical facilities with hygiene-critical equipment like surgical sinks is consequently increasing. Moreover, rising volume of surgeries performed annually worldwide is propelling the demand for high quality sanitary infrastructure including surgical sinks. However, high initial costs associated with purchasing and installation of surgical sinks in hospitals and clinics can restrain the market growth.
Segment Analysis
Surgical Sinks Market is dominanted by the Ceramic surgical sinks segment, which accounts for nearly half of the total market share. Ceramic surgical sinks are highest in demand due to their durability and ability to withstand extreme temperature changes easily. Ceramic material does not rust, fade, chip or crack and provides a smooth and hygienic surface that is ideal for surgical procedures.
PEST Analysis
Political: Regulations regarding hospital waste disposal and infection control standards are becoming more stringent across various countries, driving demand for specialized surgical sinks.
Economic: Growth of the medical tourism industry in developing nations is boosting investments in healthcare infrastructure and adoption of advanced medical equipment like surgical sinks.
Sociocultural: Rising health awareness and increasing consumer willingness to spend on healthcare are positively impacting the surgical sinks market.
Technological: Manufacturers are developing innovative sink designs integrated with advanced filter systems, touchless faucets and antimicrobial coatings to reduce workload of medical staff and ensure optimal sanitation.
Key Takeaways
The Global Surgical Sinks Market Size is expected to witness high growth, exhibiting CAGR of 5.6% over the forecast period, due to increasing need for advanced infection control measures. The market size for 2023 is estimated to be US$ 3.06 Bn.
North America dominates the global surgical sinks market, owing to stringent regulations regarding hospital-acquired infections and higher healthcare expenditure. Growth in ambulatory surgical centers along with rising joint replacement surgeries are also fueling demand in the region.
The Asia Pacific region is expected to grow at the fastest pace during the forecast period due to growing medical tourism industry, improving healthcare infrastructure and increasing expenditure on critical medical equipment by both public and private players.
Key players operating in the Surgical Sinks Market are TBJ Incorporated, Getinge AB, Steelco S.p.A., MAC Medical, Inc., TEAL Patents Ltd., MEGASAN Medikal, Elmo Technology, The Brewer Company, Inmoclinc, Bemis Manufacturing Company, Ophthalmic Instruments, Inc., Duravit AG, Infection Prevention Technologies, Fractovia.org, Surgical Sink Company.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
