Albany NY, United States: The global breast pumps market is estimated to expand at a CAGR of 10.4% during the forecast period from 2019 to 2027, states a research report by Transparency Market Research (TMR). Further, the study highlights that the market is estimated to be valued at US$ 5.5 Bn by 2027.
The TMR study gives complete synopsis of drivers, growth opportunities, restraints, and challenges in the breast pumps market. Moreover, it enlightens readers on varied important statistics such as volume, share, revenues, production, and sales of the market for breast pumps.
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Over the period of past few years, there is significant growth in the number of working women population around the globe. Besides, there is surge in incidences of lactation failure among mothers. These factors are resulting into rise in demand for breast pumps, which in turn, is driving the market growth.
According to one study, about 92% of new mothers face issues related to breast-feeding approximately 3 days after giving birth to a child. Moreover, around 40% women were not able to produce sufficient milk. One of the important factors for this situation includes weak health conditions of mothers. Apart from this, surge in awareness regarding the importance of natural lactation for babies is expected to boost the expansion opportunities in the global breast pumps market in the years to come.
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Increased Government Initiatives to Spread Awareness on Breastfeeding to Drive Product Demand
Many government authorities across the globe are increasing focus on spreading awareness about the importance of breastfeeding. This factor is projected to result into surge in demand for breast pumps around the world. Moreover, the technological advancements and improved healthcare infrastructure of several countries is anticipated to fuel the growth of the breast pumps market.
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Market Enterprises Focus on New Product Launches to Stay Ahead in Competition
Medela AG, Pigeon Group (Pigeon Corporation), Ameda, Inc., Koninklijke Philips N.V., Evenflo Feeding, Inc., Ardo Medical Ag, Spectra Baby USA, Mayborn Group Limited, Hygeia Health, and Albert Manufacturing USA (Albert Group) are some of the key players working in the global breast pumps market.
Presence of many players makes the competition levels in the breast pumps market highly intense. Thus, companies are utilizing various strategic moves to stay ahead in the competition. Some of the prominent growth strategies include regulatory approvals, new product launches, development of technologically advanced products, mergers, acquisitions, and collaborations. On the back of all these activities, the market is expected to show expansion at prominent pace in the years to come.
Higher Concentration of Working Women in North America to Drive Regional Market Expansion
Europe, North America, Latin America, Middle East & Africa, and Asia Pacific are some of the key regions for the global breast pumps market. Among all, North America demonstrates promising sales opportunities for companies operating in the breast pumps market.
The North America breast pumps market is projected to expand owing to many factors such as presence of favorable reimbursement policies, higher women employment rate, supportive policies by government bodies for working female population, and established healthcare infrastructure.
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Global Breast Pumps Market Segmentation
The report analysts have presented all the data and analysis of the global breast pumps market in the form of varied segments, which are decided on many crucial parameters such as product type, application, and region. In terms of product type, the market for breast pumps is divided into three parts, namely, double electric breast pump, single electric breast pump, and manual breast pump. On the basis of application, the segmentation of the global breast pumps market is performed into two parts such as hospital grade and personal use.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Breast Pumps Market (Product - Single Electric Breast Pumps Double Electric Breast Pumps, and Manual Breast Pumps; Applications - Hospital Grade and Personal Use) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027.”
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