Breast Pump Market is expected to reach US$ 2.45 Billion by the end of 2030
It is projected that the breast pumps market will experience a compound annual growth rate (CAGR) of 4.6% during the forecast period from 2022 to 2030, resulting in a market valuation of US$ 2.45 Billion by the end of 2030, compared to US$ 1.72 Billion in 2022.
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.
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A list of Key Players Covered in the Breast Pumps Market Are:
- Koninklijke Philips N.V.
- Pigeon Corporation
- Newell Brands
- Medela LLC
- Ardo Medical AG
This could be attributed to the fact that awareness regarding breast pumps is increasing day after day in the developed economies, US in particular.
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 (2022 to 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 forecast period.
Key Takeaways of Breast Pump Market Study
- In 2022, homecare settings are expected to account for 61.5% of the global market share.
- At present, healthcare facilities are predicted to hold 38.5% of the global market share.
- North America and Europe are the largest markets for breast pumps
“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.
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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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North America is one of the largest markets for baby feeding accessories, driven by factors such as high disposable income, a large number of working women, and a growing awareness of the importance of nutrition for infants. The United States is the largest market in the region
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Key Segments of Breast Pumps Industry Survey
Breast Pumps Market by Product:
- Closed System Breast Pumps
- Open System Breast Pumps
Breast Pumps Market by Technology:
- Electric Breast Pumps
- Single Electric Breast Pumps
- Double Electric Breast Pumps
- Manual Breast Pumps
Breast Pumps Market by End User:
- Breast Pumps in Homecare Settings
- Breast Pumps in Healthcare Facilities
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