Breast Pumps Market Is Set to Experience a Significant Growth Of 4.6% CAGR From 2022 To 2027
FMI, an ESOMAR-certified market research firm, states that the global breast pump market will be valued at US$ 1.5 Bn in 2020. During the forecast period (2020-2030), the market is likely to grow at a CAGR of 4%.
The world of infant feeding has been witnessing a “quiet revolution” since 2005. The usage of electric pumps has increased manifold since then. Initially it was confined only to mothers of premature babies in the NICU, but the current scenario is such that even full-term infants are being fed through pumped milk.
This could be attributed to the fact that awareness regarding breast pumps is increasing day after day in the developed economies, US in particular.
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Even in the European economies, the electric breast pumps are being made available on rent. So, regular usage as well as occasional usage gets sufficed. These usages are likely to substantiate the breast pumps market in the forecast period (2020-2030).
In the US, the “Affordable Care Act” states that the breast pump’s cost is 100% reimbursable, and it’s mandatory for the employers to provide space and time for the working moms to pump.
In developing economies like India, the usage of breast pumps is catching up in the metros as there are more women falling under the gambit of corporate world. As such, Asia Pacific will soon witness an exponential growth in breast pumps market in the next 10 years.
Key Takeaways of Breast Pump Market Study
- Open system breast pumps held the largest market share in 2019
- By technology, electric breast pumps accounted for the highest revenue in 2019
- Cumulatively, North America and Europe contributed for more than 60% of market share 2019 and the trend is expected to continue going forward as well
“Breast pump, a gift of advanced medical technology, and bliss for working mothers, which is resulting in growing adoption. Moreover, increasing promotional campaigns are likely to boost the growth of breast pump market.” says the FMI Analyst.
Human Milk Banks: A Catalyst to Breast Pumps Market
Late pregnancies are proving to be detrimental to breast-feeding. In other words, late pregnancies often result in women not being able to lactate. As per the WHO, mother’s milk is imperative atleast for the first six months as it helps in building immunity. However, for infants whose mothers’ mammary glands are unable to produce milk or mother is suffering from an ailment wherein it can’t be passed on to the infant; human milk banks are the solution.
Donors need to inform the human milk banks. The banks then send breast pumps to the donors so that they can extract the milk and store it in bottles. Then the same milk is collected by the banks and given to those needy infants. Human Milk Banking Association of America has been actively serving in this regard. Right now, Covid-19 infected mums can’t pass on their milk to the infants. Milk from the milk banks helps over here. Elvie had offered “milk shuttle service” at CES 2020; wherein they used to collect milk from mums who attended the show and ensure safe storage by having them placed in medical-grade refrigerators.
In India, there are 14 human milk banks right now. Milk banks are expected to be a key growth driver in the upcoming period.
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Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2030. The global breast pump market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provide compelling insights on breast pump market on basis of product type (closed system breast pumps, open system breast pumps), technology (electric breast pumps, manual breast pumps), end user (homecare settings, healthcare facilities) across seven major regions.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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