Saudi Arabia Medical Rubber Stopper Market Size & Outlook
Saudi Arabia medical rubber stopper market, 2018-2030 (US$M)
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Saudi Arabia medical rubber stopper market highlights
- The Saudi Arabia medical rubber stopper market generated a revenue of USD 46.0 million in 2023 and is expected to reach USD 59.6 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 3.8% 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.
Medical rubber stopper market data book summary
| Market revenue in 2023 | USD 46.0 million |
| Market revenue in 2030 | USD 59.6 million |
| Growth rate | 3.8% (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, Saudi Arabia 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 Middle East & Africa, Saudi Arabia medical rubber stopper market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 59.6 million by 2030.
Teflon coated was the largest segment with a revenue share of 62.17% in 2023. Horizon Databook has segmented the Saudi Arabia medical rubber stopper market based on siliconized, teflon coated, uncoated stoppers covering the revenue growth of each sub-segment from 2018 to 2030.
With rising demand for healthcare services Saudi Arabia is anticipated to witness a significant increase in investments in its pharmaceuticals industry. For instance, in June 2023, the Public Investment Fund (PIF) of Saudi Arabia announced its intent to establish Lifera, a new pharmaceutical entity to attract biotechnology and pharmaceutical companies to collaborate with local pharmaceutical manufacturers for the development of plasma therapeutics, vaccines, insulins, and cell and gene therapies.
The PIF has assets worth USD 700.0 billion and is one of the largest sovereign wealth funds in the world. Its role is to make strategic investments in improving the healthcare system in Saudi Arabia. The flourishing pharmaceuticals industry in the country is anticipated to drive the demand for pharmaceutical packaging products in the coming years, thereby contributing to the growth of stoppers market in the country.
Saudi Arabia is a suitable destination for pharmaceutical companies aiming to increase their footprint in the Middle East & Africa owing to its well-established logistics infrastructure and strategic location. Considering this strategic advantage, investments in the pharmaceutical industry of the country can open new opportunities for the economy of Saudi Arabia.
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Medical Rubber Stopper Market Scope
Medical Rubber Stopper Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia medical rubber stopper market size, by surface treatment, 2018-2030 (US$M)
Saudi Arabia Medical Rubber Stopper Market Outlook Share, 2023 & 2030 (US$M)
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