Selbyville, Delaware, Nov. 02, 2021 (GLOBE NEWSWIRE) --
The breast pump market size is anticipated to record a valuation of USD 1.9 billion by 2027, according to the most recent study by Global Market Insights Inc. Increasing rate of women employment worldwide will fuel the market growth. Continuous technological advancements in the breast pumps will foster the market expansion. Also, strong presence of key companies in the market are continuously investing in the development of products and launch with better effectively and features. Moreover, increasing government initiatives to promote breastfeeding in several economies will accelerate the overall market progression. Additionally, favorable insurance and reimbursement policies for the breast pumps will augment the market demand during the forecast timeframe.
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Higher birth rate among population coupled with increasing number of working women in the world will propel breast pump market value. According to the International Labour Organization, 49% women were employed across the globe in 2018. Due to surge in the number of employed women population and hence change in lifestyle, working women are unable to breastfeed their babies frequently. Also, increasing cases of nipple soreness and breast refusal act as barriers in breastfeeding. Furthermore, high adoption of advanced devices as well as increasing demand for breast milk donors in several countries will stimulate the industry growth.
The open system segment in the breast pump market is projected to witness 2.7% growth rate through 2027. The open system breast pumps are required least maintenance compared to others. This will provide advantage to the open systems. Several open system breast pumps having simple mechanism with enhanced potency, hygienic benefits and minimal contamination risk will offer lucrative growth opportunities to the segment. In addition, growing number of product offerings by several market players in the segment such as Lansinoh signature Pro and Medela pump in style among others will enhance the segment product demand.
Battery powered breast pump segment is estimated to attain a CAGR of 6.6% till 2027 led by the battery powered breast pumps offers faster suction and pumping capacity in shorter time span. Battery powered breast pumps are mostly used as hospital grade for better efficacy and shorter procedural time. Additionally, numerous market leaders are mainly manufacturing and offering wide range of products including battery powered technology will drive the segment growth.
Hospital grade segment dominated more than 85% of the breast pump market share in 2020 impelled by the surge in the number of births in the hospital settings. Further, hospital grade breast pumps are used to impel expression of breast milk among mothers with advanced technology and several benefits. Numerous women are unable to produce enough breast milk for breastfeeding. This will boost acceptance of products in healthcare facilities, thereby augmenting the overall segment value.
Asia Pacific breast pump market is poised to showcase significant growth during the forecast timeline. Increasing number of working-class women will enhance the regional growth. Growing awareness about breastfeeding and several government initiatives will spur the industry expansion. High investment in healthcare by numerous industry leaders for new product development will augment the industry progression. Increasing healthcare expenditure as well as surge in disposable income in the region will fortify product demand in the region. Further, rapidly growing number of births in region represent a major factor accelerating the demand for breast pumps during the forecast period.
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Key companies involved in the market include Beldico, Philips, Lansinoh Laboratories, Linco Baby Merchandise Works, Bailey Medical, Pigeon, Ameda, Albert, Ardo, Babybelle and Medela. The players are implementing several growth strategies such as collaboration, acquisition, partnership, and new product launches to gain competitive edge over others. Focus on product development will provide several growth opportunities in the coming years.
Table of Contents (ToC) of the report:
Chapter 3 Breast Pump Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027 (USD Million)
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By technology
3.4.3 By application
3.5 COVID-19 impact analysis
3.6 Regulatory landscape
3.7 Porter’s analysis
3.8 Competitive landscape, 2020
3.9 PESTEL analysis
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
