Latin America Medical Rubber Stopper Market Size & Outlook
Latin America medical rubber stopper market, 2018-2030 (US$M)
Related Markets
Latin America medical rubber stopper market highlights
- The Latin America medical rubber stopper market generated a revenue of USD 282.3 million in 2023.
- The market is expected to grow at a CAGR of 4.6% 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, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 282.3 million |
| Market revenue in 2030 | USD 386.2 million |
| Growth rate | 4.6% (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, Latin America region accounted for 15.9% 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 63.97% in 2023. Horizon Databook has segmented the Latin America 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 Pan American Health Organization (PAHO), demographic and environmental changes, coupled with the evolving lifestyle of the masses and changing behavioral and economic patterns of consumers, have led to non-communicable diseases (NCDs) replacing or, in some settings, coexisting with communicable diseases (CDs) in Central & South America.
The aging population, ongoing globalization and urbanization, and rising instances of obesity cardiovascular diseases, etc. in the region caused by physical inactivity drive the demand for human injectables. This, in turn, positively influences the consumption of stoppers used in secure packaging products.
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Medical Rubber Stopper Market Scope
Medical Rubber Stopper Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America medical rubber stopper market size, by country, 2018-2030 (US$M)
Latin America Medical Rubber Stopper Market Outlook Share, 2023 & 2030 (US$M)
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