Europe Medical Rubber Stopper Market Size & Outlook
Europe medical rubber stopper market, 2018-2030 (US$M)
Related Markets
Europe medical rubber stopper market highlights
- The Europe medical rubber stopper market generated a revenue of USD 426.1 million in 2023.
- The market is expected to grow at a CAGR of 6.1% 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.
- Country-wise, Germany is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 426.1 million |
| Market revenue in 2030 | USD 644.5 million |
| Growth rate | 6.1% (CAGR from 2023 to 2030) |
| Largest segment | Teflon coated |
| Fastest growing segment | Teflon Coated |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Europe region accounted for 24.1% of the global medical rubber stopper market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 305.9 million by 2030.
Teflon coated was the largest segment with a revenue share of 65.62% in 2023. Horizon Databook has segmented the Europe medical rubber stopper market based on siliconized, teflon coated, uncoated stoppers covering the revenue growth of each sub-segment from 2018 to 2030.
Europe emerged as the second-largest dominating region in the global stoppers market. This is attributed to the growing pharmaceutical production and increasing investments in research & development of new medicines. Pharmaceutical production in Europe witnessed an upward trend from 2018 to 2022.
According to the EFPIA, an average of 12 years period is taken for medicine development until its approval for use in patients. According to the European Medicines Agency (EMA), around 4,000 trials are permitted annually across the European Economic Area (EEA) in collaboration with international research partners.
The pre-clinical tests are conducted on animals and based on its results, the candidate compound is tested in humans in a phase 1 clinical trial. Recently, the European Union has been seen to develop programs for promoting clinical trials in Europe. Also, the COVID-19 situation in 2020 has significantly contributed to the progress in the number of clinical trials.
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Medical Rubber Stopper Market Scope
Medical Rubber Stopper Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe medical rubber stopper market size, by country, 2018-2030 (US$M)
Europe Medical Rubber Stopper Market Outlook Share, 2023 & 2030 (US$M)
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