According to a recently updated research report by FMI, the global plunger stopper market is projected to reach a valuation of US$ 143.7 million in FY 2024. This growth is largely fueled by the increasing development of prefilled syringes by market players. Over the next decade, the market is expected to grow at an average CAGR of 4.5%, reaching a valuation of US$ 223.2 million by FY 2034. Key vendors are anticipated to explore opportunities in emerging Asian countries, where there is a higher inclination towards adopting plunger stoppers compared to developed regions.
Rising adoption of plunger stoppers across various end use sectors including pharmaceuticals and biotechnology and growing popularity of home treatments are some of the key factors driving the global plunger stopper market.
The plunger stopper market is one of the fastest-growing markets in the global packaging industry. A plunger stopper is used in syringes to ensure that a vaccine contained in the syringe will not leak during storage.
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The urge for self-treatment with prefilled syringes from consumers is expected to play a key role in boosting the sales of plunger stoppers during the forecast period. Plunger stopper helps in maintaining the quantity of vaccine in prefilled syringes. As a result, they have become a critical component of these medical devices.
Similarly, rising prevalence of chronic diseases and growing usage of syringes, particularly prefilled ones, for treatment purposes are anticipated to elevate the demand for plunger stoppers over the next ten years.
Consumers and manufacturers are focusing more on recyclable plunger stoppers due to environmental concerns. Thus, development and popularity of ecofriendly plunger stoppers will further aid in the expansion of the global market through 2032.
“The change in the lifestyle of people coupled with rising cases of various diseases has increased the demand for home-treatment with prefilled syringes. Thus, increasing usage of syringes, especially prefilled ones, for treatment of various diseases will aid in the expansion of plunger stopper market during the forecast period”– says an FMI analyst
Development in Biotechnology Products is Positively Impacting the Growth of the Plunger Stopper Market:
Plunger stopper plays a crucial role in syringes as bad packaging makes the syringes useless. Plunger stopper is used by various end use industries such as pharmaceuticals, biotechnology, and Others (Research & Development, etc.).
Recent developments in biotechnological products such as vaccines in prefilled syringes (PFS) have grabbed considerable attention from the biotechnology and pharmaceutical industry. This can be attributed primarily to some of the benefits that PFS provides, such as reduced medical dosing errors, reduced risk of microbial contamination by limiting manipulations before dosing, and increased convenience and ease of use. Such development in biotechnological products is positively impacting the growth of the plunger stopper market and is expected to boost during the forecasted period.
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Plunger Stopper Market Landscape
West Pharmaceutical Services, Inc., BD (Becton Dickinson and Company), Dätwyler Holding Inc., AptarGroup, Inc., Gerresheimer AG, W. L. Gore & Associates, Inc., are the key players operating in the global plunger stopper market. Also, some of the noticeable players operating in the plunger stopper are Shandong Pharmaceutical Glass co., LTD, Teknor Apex, Lonstroff AG, Daikyo Seiko, Ltd., Pharmatechs Group LTD, HEXPOL AB, Qingdao Huaren Medical Product Co., Ltd., Hebei First Rubber Medical Technology Co., LTD, Suzhou CRH Pharmaceutical Technology Co., Ltd., and others.
Plunger Stopper Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global plunger stopper market, analysing historical demand from 2015-2021 and forecast statistics for 2022-2032. The study reveals market growth projections on the plunger stopper based on the material (Chlorobutyl Rubber, Bromobutyl Rubber, Silicone, TPE (Thermoplastic Elastomers)), plunger size (Less than 1 ml, 1 ml, 3 ml, 5 ml, 10 ml, Above 10 ml), and end use (Pharmaceutical, Biotechnology, Others (Research & Development, etc.)) across seven regions.
About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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