FMI Analyzes Impact of COVID-19 on Breast Pumps Market; Stakeholders to Focus on Long-term Dimensions
VALLEY COTTAGE, N.Y. – The FMI Study titled “Breast Pump Market – Global Industry Analysis 2012–2016 and Opportunity Assessment 2016–2026”, highlights the potential factors fuelling the revenue growth of the breast pump market globally. A breast pump is a medical device used to elicit breast milk from lactating women. Breast pump products are available in two models, including manual breast pumps and electrical breast pumps. Electric breast pumps are available in two formats: single electric breast pumps and double electric breast pumps. This report analyzes total revenue generated through sales of breast pump products, which include manual breast pumps and electric breast pump devices for breast feeding. Breast pump products are increasingly becoming a necessity among working women across the world as the inclusion of women in workforce is increasing globally.
Emerging economies are witnessing impressive growth in healthcare spending. This can be attributed to improvements in healthcare technology and changing lifestyle, which is fuelling the demand for breast pumps among urban women. According to WHO, the global healthcare spending rose by 2.4% in 2014 over 2013. Healthcare spending is growing at a rate of 5% in developing regions. Rise in healthcare expenditure is expected to boost overall adoption of breast pumps among women, especially in Asia Pacific.
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Breast pump adoption is as high as 85% among breast feeding women at 3 months post-birth. Furthermore, marketplace discussions indicate that the availability of breast pump accessory products will also encourage the adoption of electric breast pumps in developed markets. In this regard, infant product manufacturers are increasingly bundling other pump-related products, such as nursing bras and breast pumping bras, to sell complete package of breast pumps, which is anytime more profitable than isolated sales. Electrical breast pump packages find more adoption than manual breast pump products due to better volume of output. These innovative solutions are projected to fuel breast pump market revenues in the global electric breast pumps market during the forecast period.
The Electric breast pump market is more technologically advanced with higher product pricing and low penetration. This category of breast pump comprises few global breast pump manufacturing companies. Potential new entrants in breast pump market are trying to capture and improve their market position by using innovative marketing strategies, such as inorganic growth. Breast pump manufacturers are expanding their product portfolio using latest technologies.
Availability of BPA free breast pump products is fuelling breast pump adoption in developed as well as more the affluent markets in developing regions. In the recent past, breast pump manufacturers have begun offering bisphenol A or BPA-free breast pump products to increase sales. BPA is a chemical used to make milk container or feeding bottle rigid and more resistant and has been associated with adverse health effects, such as neural and fertility issues. Examples of some BPA free breast pump products are Philips Avent Manual Comfort Breast Pump from Koninklijke Philips N.V. and BPA-free breast pumps by Medela, Inc.
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Rapid rise in promotional/supporting campaigns for Breast Pump products is fuelling revenue growth of the breast pump market. In November 2012, leading breast pump manufacturer Medela launched a campaign titled ‘Virtual Human Milk Collection Campaign’ to commemorate Prematurity Awareness Month, where the breast pump manufacturer encouraged and demonstrated the importance of breast milk for infants and babies. Medela has also donated US$ 30,000 worth of breastfeeding related products to various neonatal intensive care units across the U.S.
Some of the leading breast pump manufacturing companies analyzed in the report include Koninklijke Philips N.V., Pigeon Corporation, Newell Brands, Medela Inc., Ameda Inc., Hygeia II Medical Group Inc., Bailey Medical, Mayborn Group Ltd. and Linco Baby Merchandise Works Co., Ltd.
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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