India Medical Rubber Stopper Market Size & Outlook
India medical rubber stopper market, 2018-2030 (US$M)
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India medical rubber stopper market highlights
- The India medical rubber stopper market generated a revenue of USD 33.4 million in 2023 and is expected to reach USD 51.1 million by 2030.
- The India market is expected to grow at a CAGR of 6.3% 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 33.4 million |
| Market revenue in 2030 | USD 51.1 million |
| Growth rate | 6.3% (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, India 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 68.56% in 2023. Horizon Databook has segmented the India 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 Invest India, a National Investment Promotion and Facilitation Agency, India has witnessed significant growth in vaccine production. The country has emerged as a dominant manufacturer of vaccines for diseases such as Diphtheria, Bacillus Calmette–Guérin (BCG), Pertussis (DPT), and measles.
For instance, According to Invest India accounts for a share of approximately 90% of the global demand for the measles vaccine, while 65% - 70% of the vaccine requirements of the World Health Organization (WHO) are sourced from India. This indicates a significant vaccine manufacturing market in India.
In addition, according to the Government of India, approximately 60% of the global demand for vaccines is fulfilled by the country. The growing vaccine production and exports from India are expected to drive the demand for secure packaging products that promote the growth of stopper market in India.
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Medical Rubber Stopper Market Scope
Medical Rubber Stopper Market Companies
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India medical rubber stopper market size, by surface treatment, 2018-2030 (US$M)
India Medical Rubber Stopper Market Outlook Share, 2023 & 2030 (US$M)
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