Spain Medical Rubber Stopper Market Size & Outlook
Spain medical rubber stopper market, 2018-2030 (US$M)
Related Markets
Spain medical rubber stopper market highlights
- The Spain medical rubber stopper market generated a revenue of USD 36.4 million in 2023 and is expected to reach USD 49.2 million by 2030.
- The Spain market is expected to grow at a CAGR of 4.4% 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 36.4 million |
| Market revenue in 2030 | USD 49.2 million |
| Growth rate | 4.4% (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, Spain accounted for 2.1% 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 Europe, Germany medical rubber stopper market is projected to lead the regional market in terms of revenue in 2030.
- Germany is the fastest growing regional market in Europe and is projected to reach USD 121.8 million by 2030.
Teflon coated was the largest segment with a revenue share of 65.38% in 2023. Horizon Databook has segmented the Spain medical rubber stopper market based on siliconized, teflon coated, uncoated stoppers covering the revenue growth of each sub-segment from 2018 to 2030.
Biosimilars are popular in Spain. According to the International Trade Administration, the Spanish Ministry of Health is in the process of finalizing a plan to promote the use of generic drugs (biosimilars). The low price of biosimilars has contributed to their market penetration rate.
According to Generics and Biosimilars Initiative (GaBI), there were over 50 biosimilar drugs available in Spain in 2022. Some of these drugs were rituximab (RTX), infliximab (IFX), etanercept (ETN), and adalimumab (ADA). Thus, the growing demand for biosimilars in Spain is expected to boost the growth of the human injectables market, in turn, driving the stoppers market associated with it.
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Medical Rubber Stopper Market Scope
Medical Rubber Stopper Market Companies
| Name | Profile | # Employees | HQ | Website |
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Spain medical rubber stopper market size, by surface treatment, 2018-2030 (US$M)
Spain Medical Rubber Stopper Market Outlook Share, 2023 & 2030 (US$M)
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