China Medical Rubber Stopper Market Size & Outlook
China medical rubber stopper market, 2018-2030 (US$M)
Related Markets
China medical rubber stopper market highlights
- The China medical rubber stopper market generated a revenue of USD 46.4 million in 2023 and is expected to reach USD 74.4 million by 2030.
- The China market is expected to grow at a CAGR of 7% 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 46.4 million |
| Market revenue in 2030 | USD 74.4 million |
| Growth rate | 7% (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, China accounted for 2.6% 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 69.4% in 2023. Horizon Databook has segmented the China medical rubber stopper market based on siliconized, teflon coated, uncoated stoppers covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing pharmaceutical per capita expenditures, rising health awareness among the masses, and aging population are expected to drive pharmaceutical sales in the country in the coming years. The surging pharmaceutical sales imply the increased consumption of pharmaceuticals resulting in growing demand for secure packaging solutions for injectable pharmaceuticals, thus positively influencing the stoppers in China.
The trade conflict between China and the U.S. and the outbreak of COVID-19 in the former affected its relations with the countries of Europe and North America. In addition, the rising labor costs in China due to a rising cost of living resulted in a number of foreign companies considering Southeast Asia as a potential market for setting up drug manufacturing facilities.
To attract foreign investments, the State Council of China issued a 24-point list of guidelines to ease the entry of multinational pharmaceutical companies into the market in the country and offer them tax incentives and other benefits to set up their manufacturing units in China.
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Medical Rubber Stopper Market Scope
Medical Rubber Stopper Market Companies
| Name | Profile | # Employees | HQ | Website |
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China medical rubber stopper market size, by surface treatment, 2018-2030 (US$M)
China Medical Rubber Stopper Market Outlook Share, 2023 & 2030 (US$M)
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