Global Breast Pump Market Is Projected To Expand At A Staggering CAGR Of 9.4% By 2025
Global Breast Pumps Market Poised to Expand Positively, on back of Rising Women Workforce
Global breast pump market is projected to expand at a staggering CAGR of 9.4% during the forecast period (2020-2025). However, sales of pumps are expected to dip in the next two quarters as many women are working from home due to the COVID-19 pandemic and can easily breastfeed their babies.
Over the past few years, there has been an uptick in the number of professionally working women across the world. Most corporate and non-corporate organizations have been increasingly recruiting women for high-paying jobs, which require them to put in significant efforts.
This often leaves young mothers with little time to spend with their infants. Since infants require regular breast milk intake, the popularity of breast pumps is anticipated to surge.
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Based on this trend, the global breast pumps market is prophesied to expand healthily during the forecast period (2020-2025), expanding 1.7x. Other growth drivers ensuring a positive growth trajectory include rising insurance coverage for breast pumps, increased awareness about breastfeeding and technological advancements in breast pump feeding techniques.
Key Takeaways from the Global Breast Pumps Market Study:
- By product, double-electric breast pumps are poised to find increased usage among women. Technological advancements as well as increased insurance coverage by public and private sectors is anticipated to boost the segment’s growth. An example of technological advancements in breast pumps is the Willow Breast Pump. It is a hands-free, cordless and noiseless pump which extracts milk without the slightest discomfort to women. Anticipated CAGR for this segment is a whopping 10.4%.
- However, single-electric breast pumps shall register equally widespread usage, attributed to its affordability, faster pumping rate, portability and potency. The segment is anticipated to expand staggeringly at a CAGR of 9.7% across the forecast period. It is poised to capture over 2/5th of the global breast pumps market.
- Application-wise, the personal use segment is projected to dominate the global breast pumps market. Government initiatives to create awareness about the benefits of breast feeding has prompted consumers to opt for personal usage of breast pumps. In addition, technological advancements in electric breast pumps and increase in working women workforce shall augment market growth. The segment is set to expand healthily at a CAGR of 10.4%.
- By region, North America is poised to capture the maximum market share with regard to global breast pumps. Increasing government initiative to spread awareness about breastfeeding, growing healthcare expenditure and unfavorable maternity leave policies are key growth levers. Anticipated CAGR for North America is 9.8%.
- Asia-Pacific shows lucrative market opportunities for the global breast pumps market, expanding at a CAGR of 10.0%. Rising birth rates, increased disposable incomes and greater women workforce as well as entry of market players are poised to drive the region’s growth in a positive direction.
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Global Breast Pumps Market Segmentation
Fact.MR has studied the global breast pumps market with detailed segmentation on the basis of product, application and regions.
|Single Electric Breast Pumps||Hospital Grade||North America|
|Double Electric Breast Pumps||Personal Use||Europe|
|Manual Breast Pumps||Asia Pacific|
|Middle East & Africa (MEA)|
Global Breast Pumps Market Competition Structure:
The global breast pumps market consists of a large number of important market players. These are: Medela LLC, Pigeon Group, Koninklijke Philips N.V, Ameda, Inc., Ardo Medical AG, Evenflo Feeding, Inc. and Mayborn Group Limited (Shanghai Jahwa Co. Ltd.) to name a few. Educating consumers, entry into lucrative markets with new distribution networks and expanding direct and indirect sales activities are key strategies adopted by market players.
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