Australia Medical Rubber Stopper Market Size & Outlook
Australia medical rubber stopper market, 2018-2030 (US$M)
Related Markets
Australia medical rubber stopper market highlights
- The Australia medical rubber stopper market generated a revenue of USD 33.9 million in 2023 and is expected to reach USD 49.2 million by 2030.
- The Australia market is expected to grow at a CAGR of 5.5% from 2024 to 2030.
- In terms of segment, teflon coated was the largest revenue generating surface treatment in 2023.
- Teflon Coated is the most lucrative surface treatment segment registering the fastest growth during the forecast period.
Medical rubber stopper market data book summary
| Market revenue in 2023 | USD 33.9 million |
| Market revenue in 2030 | USD 49.2 million |
| Growth rate | 5.5% (CAGR from 2023 to 2030) |
| Largest segment | Teflon coated |
| Fastest growing segment | Teflon Coated |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Siliconized, Teflon Coated, Uncoated Stoppers |
| Key market players worldwide | AptarGroup Inc, West Pharmaceutical Services Inc, Samsung Electronics Co Ltd, Daetwyler Holding AG, Bharat Rubber Works, Jiangyin Hongmeng Rubber and Plastic Products Co., Universal Medicap, Lonstroff, Bormioli Pharma, Sagar Rubber Products |
Other key industry trends
- In terms of revenue, Australia accounted for 1.9% of the global medical rubber stopper market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China medical rubber stopper market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 74.4 million by 2030.
Teflon coated was the largest segment with a revenue share of 68.73% in 2023. Horizon Databook has segmented the Australia medical rubber stopper market based on siliconized, teflon coated, uncoated stoppers covering the revenue growth of each sub-segment from 2018 to 2030.
According to the Australian Institute of Health and Welfare, decreasing fertility rates and increasing life expectancy are contributing to the growth of the geriatric population in the country. The well-established pharmaceutical and healthcare industries are expected to contribute to the increase in the geriatric population in Australia that is anticipated to account for a share of 21%–23% of the overall population by 2066.
The growing aging population is expected to drive the demand for home-based diagnostics services, knee surgeries, and pharmaceuticals in the country. This, in turn, is anticipated to fuel the consumption of injectable medicines and blood sample collection & storage tubes in Australia. It is expected to contribute to the surged consumption of stoppers in the country used for packaging these medicines.
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Medical Rubber Stopper Market Scope
Medical Rubber Stopper Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia medical rubber stopper market size, by surface treatment, 2018-2030 (US$M)
Australia Medical Rubber Stopper Market Outlook Share, 2023 & 2030 (US$M)
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