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Breast Pumps Market Worth US$ 5.5 Billion at a CAGR of 10.4% from 2019 to 2027 | Transparency Market Research

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Description:

Transparency Market Research (TMR) has published a new report titled, ‘Breast Pumps Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global breast pumps market was valued at US$ 2.3 Bn in 2018 and is projected to expand at a CAGR of 10.4% from 2019 to 2027.

Overview

  • A breast pump is a medical device that is used by lactating women for extracting milk from their breasts if they found it difficult by natural lactation or not sufficient mil is produced by them.
  • These mechanical devices may be manual devices powered by hand or foot movements or automatic devices powered by electricity for end use
  • Manual breast pumps are operated by squeezing or pulling a handle in a repetitive fashion, allowing the user to directly control the pressure and frequency of milk expression
  • North America dominated the global breast pumps market in 2018 and the trend is anticipated to continue during the forecast period for both in terms of value and volume.

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Growing rate of employed women across the globe and government support policies for breastfeeding to Drive Market

  • Supporting government initiatives aimed at improving consumer awareness levels for breastfeeding is likely to fuel the growth of global breast pumps market
  • Rising employed women ratio across the world and launch of technological advanced products in recent years are also some of the key factors for the growth of global breast pumps market
  • Rising incidences of lactation failure among mothers, improving healthcare infrastructure, and favorable reimbursement policies in developed countries are some of the major factors responsible for the growth of global breast pumps market
  • For instance, under the Patient Protection and Affordable Care Act (PPACA), in the U.S. several insurance companies are offering variety of breast pumps for the ease of women’s convenience

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Double Electric Breast Pump Segment to Dominate Market

  • Based on product type, the global breast pumps market has been divided into single electric breast pump, double electric breast pump, and manual breast pump
  • In terms of value double electric breast pump is accounted for major market share in 2018 due to higher cost of product, and growing inclination of consumers toward technologically-advanced products
  • Based on volume single electric breast pump dominated the global market in 2018 due to ease of use, simple operation, and comparatively lesser time than manual breast pump required for process

Personal Use Application to be Highly Lucrative Segment

  • In terms of application, the global breast pumps market has been bifurcated into hospital grade, and personal use
  • Personal use segment dominated the global breast pump market in 2018 and during the forecast period
  • Personal use segment is also more lucrative segment during the forecast period owing to affordable price of products, growing trend of using in home breast pumps among working women, and favorable policies for reimbursement

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North America to Dominate Global Market

  • In terms of region, the global breast pumps market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
  • North America dominated the global breast pumps market in 2018, followed by Europe by both in terms of value as well as volume
  • North America accounted for major share of the global breast pumps market in 2018, owing to higher women employment rate, favorable reimbursement policies, established healthcare infrastructure, and government support policies for working women
  • For instance, according to U.S. Department of Labor Blog, there are 74.6 million women in the civilian labor force and around 47% of U.S. workers are women.
  • The breast pumps market in Asia Pacific is anticipated to expand at a higher CAGR from 2019 to 2027. This can be attributed to rising women workforce which demands higher volume of breast pumps in coming years and growing investment made by the government in healthcare sector

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Competitive Landscape

  • The global breast pumps market is fragmented in terms of number of players. Key players in the global market include Pigeon Group (Pigeon Corporation), Medela AG, Koninklijke Philips N.V., Ameda, Inc., Ardo Medical Ag, Evenflo Feeding, Inc., Mayborn Group Limited, Spectra Baby USA, Albert Manufacturing USA (Albert Group), and Hygeia Health, among others.

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