Breast Pump Market Forecast to 2030 | By Koninklijke Philips N.V., Medela, Newell Brands, Pigeon, Ardo Medical AG
From 2022 to 2030, the Breast Pumps market is predicted to increase at a compound annual growth rate (CAGR) of 4.6%, resulting in a market worth US$ 2.45 billion by the end of 2030, up from US$ 1.72 billion in 2022.
Currently, breast pumps account for 58.5% of the global breastfeeding accessory industry. Because of technology improvements such as the advent of double breast pumps, which help remove fat content from milk and replace it with higher caloric value, the breast pump market is predicted to grow rapidly.
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The increasing awareness about Breast Pumps, especially in developed economies such as the US, is contributing to the growth of the market. Additionally, electric Breast Pumps are now available for rent in European economies, catering to both regular and occasional usage, which is likely to further drive the market growth from 2022 to 2030.
In the US, the “Affordable Care Act” mandates that breast pump costs are fully reimbursable, and employers must provide space and time for working mothers to pump. Meanwhile, in developing economies such as India, the use of Breast Pumps is gaining popularity in urban areas due to more women entering the corporate world. This trend is expected to result in exponential growth in the Breast Pumps market in the Asia Pacific region during 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.
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
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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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