Global Breast Pump Market Share, Current Trends, Opportunities, Growth Size & Forecasts 2023by IMARC Group Market Research Reports
The global breast pump market is growing at a healthy rate. Breast pumps are now being increasingly used, particularly in the emerging nations, owing to technological advancements, rising disposable income, mounting women employment rate and government initiatives.
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Breast pumps are medical devices which enable extraction of milk from the breast of a lactating mother. Breastfeeding ensures that the child is not deprived of the essential nutrients and minerals which they acquire from the mother’s milk. A breast pump helps the mother in storing the milk beforehand so that it can be fed to the baby later. These devices are often employed by the women who continue to breastfeed their children while continuing their employment. Nowadays, doctors also recommend the use of a breast pump in case the child fails to suckle. A new research report by IMARC Group, titled “Breast Pump Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the global breast pump market was worth US$ 642 Million in 2017. The report further anticipates the market to reach US$ 953 Million by 2023, at a projected CAGR of nearly 7% over the forecast period.
One of the primary factors driving the growth of the global breast pump market is technological advancements which offer more discreet devices with enhanced ease of use, comfort and added benefits.
The surge in the number of working women has enhanced their purchasing capacity, and led to hectic lifestyle and busy schedules. In addition to this, growing awareness about the benefits of breast feeding has augmented the demand for baby care essentials such as breast pumps.
The governments in both the developed and developing regions are encouraging breast feeding through various awareness programmes and initiatives. This is further projected to provide a positive thrust to the growth of the global breast pump market.
However, there are several factors that hamper the market growth such as the high price of breast pumps, cultural and societal restraints and high maintenance requirements.
Global Breast Pump Market Segmentation:
Market Breakup by Type:
1. Closed System Breast Pump
2. Open System Breast Pump
On the basis of type, closed system breast pumps exhibit a clear dominance in the global breast pump market followed by open system breast pump. This can be attributed to the increased hygiene and convenience offered by closed system breast pumps.
Market Breakup by Technology:
1. Battery-Powered Breast Pump
2. Electric Breast Pump
3. Manual Breast Pump
On the basis of technology, the market is divided into battery-powered breast pumps, electric breast pumps and manual breast pumps. Currently, battery-powered breast pumps account for the largest market share.
Market Breakup by Application:
2. Personal Care
Based on application, the market has been segmented into hospitals and personal care. Amongst these, hospitals represent the largest application segment, on account of the increasing access to healthcare facilities, particularly in the developing regions.
Market Breakup by Region:
1. North America
3. Asia Pacific
4. Latin America
5. Middle East and Africa
On a geographical front, North America enjoys the leading position in the global breast pump market, accounting for the majority of the total share. North America is followed by Europe, Asia-Pacific, Latin America, and Middle East and Africa.
The market is characterised by the presence of both regional as well as global players. In order to increase their consumer base and profitability, these manufacturers are investing in the development of innovative products. Some of the leading players operating in the market are:
1. Philips AVENT
2. Pigeon Corporation
4. Ameda, Inc.
5. Hygeia Medical Group II
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Created on Feb 27th 2019 01:13. Viewed 342 times.
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