Globally, rising birthrate in developing and underdeveloped countries has created huge growth opportunities for the breast pumps market at the global level. A breast pump, helps in stimulating lactation in women who have difficulty in produce milk or have limited supply of milk. These devices are largely used by women undergoing lactating period and reduced engorgement or breast pain. The rising number of women employment and favorable changes in reimbursement policies are also created growth potential for this market. It is useful for babies who difficulty in sucking milk due to some physical reason.
Nowadays people are more aware of the importance of feeding breast milk to the newborn as it helps in the overall development of the infant. Moreover, the rising global population and increasing disposable income in the middle-income group are likely to contribute to the growth of the breast pumps market. Changing preference of women and increasing adoption of new ways of feeding is also expected to boost the demand in the breast pumps market.
Globally, the need for breast pumps devices has grown significantly, as it is gaining popularity in developing economies as well. Thus, in a recent report published by Transparency Market Research (TMR), the global breast pumps market is projected to rise at a CAGR of 8.9% during the forecast period between 2017 and 2025. The valuation of the global breast pumps market is anticipated to touch US$4.16 bn by 2025, progressing from US$1.97 bn earned in 2016.
Convenient Option for Feeding Among Working Women to Trigger Demand for Breast Pumps
Application of breast pumps is seen in personal use and hospital grade. Personal use breast pumps segment led the market in 2016 by holding 85.8% share. The growing number of working women and the availability of cheap and effective personal use electric breast pump has grown the demand for this segment. Adding to it, growing awareness among mothers related to health benefits for infants through breastfeeding is also acting a crucial driver for the growth of this market.
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Based on product type, the market is divided into double electric breast pumps, manual breast pumps, and single electric breast pumps. Out of these, double electric breast pumps lead the market on accounts of 41.2% share in the market held in 2016. This is mainly because of innovative product development through increasing technological growth. Moreover, double electric breast pumps are more convenient and user-friendly.
Growing Birthrate in Asia Pacific to Benefit Global Breast Pumps Market
Based on geography, North America held maximum share in the breast pump market in 2016. Factors such as rising government initiatives that help cover the cost of breast pumps, increasing number of nuclear and single families, and high demand for breastfeeding products has led to the growth of this market. Furthermore, Asia Pacific is likely to rise at a healthy CAGR within the forecast tenure, due to lenient government policies and rising birthrate. Large investments by private and public sectors in growing awareness about breastfeeding in developing economies are also benefitting in developing the breast pumps market.
The vendor landscape in the report covers various prominent players existing in the market and what business development strategies they are using. Spectra Baby USA, Mayborn Group Limited Evenflo Feeding, Ardo Medical Ag, Inc., and Albert Manufacturing USA are some of the prominent players present in the breast pumping market globally.