Rising Population of Working Mothers Boosting Global Breast Pumps Market
Transparency Market
Research (TMR) has recently published a research report on the global breast
pumps market, estimating the market to expand at a CAGR of 8.80% during the
period from 2014 to 2020 and reach a value of US$2.6 bn by the end of the
forecast period.The research report, titled “Breast Pumps
Market - Global Industry Analysis, Size,
Volume, Share, Growth, Trends and Forecast 2014 - 2022,” states that the market
stood at US$1.1 bn in 2013.
According to the
research report, the increasing preference for breastfeeding, coupled with the
increasing availability of highly advanced medical and healthcare facilities,
has propelled the global breast pump market significantly in the recent times.
In addition to this, analysts at TMR project the favorable reimbursement
scenario to boost the demand for breast pumps in the coming years.
The report
analyzes the worldwide breast pumps market on the basis of product and the
regional spread of this market. By product, the market has been segmented into
manual pumps, hospital-grade pumps, single electric pumps, and double electric
pumps.
The single
electric breast pumps segment led the global market in 2013. The cost
efficiency of single electric breast pumps is considered as the major factor
behind the growth of this segment. However, the double electric breast pumps
segment is expected to post the fastest growth during the forecast period.
Apart from this, the demand for manual breast pumps is also projected to
register remarkable growth in the coming years driven by their easy handling,
states the research study.
Regionally, the
report segments the global breast pumps market into North America, Asia
Pacific, Europe, and the Rest of the World. North America dominated the
worldwide market in terms of both volume and revenue in 2013. The rising
preference for breastfeeding among people in this region has propelled the
North America breast pumps market substantially over the past few years.
Analysts at TMR expect this trend to continue in the coming years, owing to
which North America is expected to maintain its leading position during the
forecast period, notes the study.
The breast pumps
market in Asia Pacific, Europe, and the Rest of the World has also been
anticipated to exhibit healthy growth in the near future, owing to the growing
awareness pertaining to the benefits of breastfeeding, states the report.
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The report also
evaluates the competitive landscape of the global breast pumps market by
analyzing the company profiles of major market participants. According to the
report, the worldwide market for breast pumps is oligopolistic in nature, with
the top three players collectively occupying more than 75% of the overall
market.
NUK USA LLC,
Hygeia Medical Group II, Ameda AG, Mayborn Group Ltd., ARDO Medical AG, Pigeon
Corp., Lansinoh Laboratories Inc., Whittlestone Inc., Medela AG, Bailey Medical
Engineering, and Royal Philips Electronics NV are some of the key breast pump
manufacturers mention in this report.
The global
breast pumps market is segmented into:
By Product
•Manual Pumps
•Single Electric
Breast Pumps
•Double Electric
Breast Pumps
•Hospital Grade
Breast Pumps
By Region
•North America
•Europe
•Asia Pacific
•Rest of the
World
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