Canada Medical Rubber Stopper Market Size & Outlook
Canada medical rubber stopper market, 2018-2030 (US$M)
Related Markets
Canada medical rubber stopper market highlights
- The Canada medical rubber stopper market generated a revenue of USD 198.2 million in 2023 and is expected to reach USD 297.1 million by 2030.
- The Canada market is expected to grow at a CAGR of 5.9% 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 198.2 million |
| Market revenue in 2030 | USD 297.1 million |
| Growth rate | 5.9% (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, Canada accounted for 11.2% 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 North America, U.S. medical rubber stopper market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 579.2 million by 2030.
Teflon coated was the largest segment with a revenue share of 62.51% in 2023. Horizon Databook has segmented the Canada 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 Government of Canada, the country accounts for a share of 4% of the overall global clinical trials of injectable medicines. It ranks fourth in the number of clinical trial sites in the world.
Strong government support in public research infrastructure, a publicly funded healthcare system, an extensive network of academic health institutions and research centers, and healthcare charities dedicated to clinical trials contribute to the rise in investments in clinical trials market in Canada.
For instance, the Canadian Institutes of Health Research (CIHR) invests over USD 1.0 billion annually. The growing clinical trials market in the country is driving the demand for laboratory products, diagnostic equipment, human injectables, and animal injectables, thereby positively affecting the growth of stoppers market in the country.
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Medical Rubber Stopper Market Scope
Medical Rubber Stopper Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada medical rubber stopper market size, by surface treatment, 2018-2030 (US$M)
Canada Medical Rubber Stopper Market Outlook Share, 2023 & 2030 (US$M)
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