North America Medical Rubber Stopper Market Size & Outlook
North America medical rubber stopper market, 2018-2030 (US$M)
Related Markets
North America medical rubber stopper market highlights
- The North America medical rubber stopper market generated a revenue of USD 668.9 million in 2023.
- The market is expected to grow at a CAGR of 5.8% 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, U.S. is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 668.9 million |
| Market revenue in 2030 | USD 993.7 million |
| Growth rate | 5.8% (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, North America region accounted for 37.8% 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 62.98% in 2023. Horizon Databook has segmented the North America medical rubber stopper market based on siliconized, teflon coated, uncoated stoppers covering the revenue growth of each sub-segment from 2018 to 2030.
The growth of the market in the region can be attributed to the surged use of stoppers in the pharmaceuticals and healthcare industries. Moreover, the significant increase in the production of pharmaceuticals and their sales in the U.S. and Canada is also contributing to the growth of the market in North America.
According to the European Federation of Pharmaceutical Industries and Associations (EFPIA), North America accounted for a share of 52.30% of the global pharmaceutical sales compared with a share of 22.40% of Europe in the same in 2022.
In addition, the presence of major vaccine manufacturers such as Pfizer Inc., Merck & Co., Inc., and Sanofi in North America also leads to the dominance of this region in the global market. Stoppers are used in human injectables, animal injectables, laboratories, and diagnostic applications in the pharmaceuticals and healthcare industries.
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Medical Rubber Stopper Market Scope
Medical Rubber Stopper Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America medical rubber stopper market size, by country, 2018-2030 (US$M)
North America Medical Rubber Stopper Market Outlook Share, 2023 & 2030 (US$M)
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