Breast Pumps Market expected to grow at a CAGR of 5% during 2016 to 2026
Future Market Insights has announced the addition of the “Breast Pumps Market- Global Industry Analysis & Opportunity Assessment, 2016-2026” "report to their offering.
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. Over the past few years, there has been an increase awareness about breast pumps, especially in developed countries. Various independent entities have emerged as standalone breast pumps manufacturers to cater to the everincreasing demand for products such as manual and electric breast pumps. In the recent past, companies have been focusing on introducing portable breast pumps targeting the consumer segment, which is anticipated to result in a surge in market share globally by 2026. Also, demand for electric breast pumps is increasing globally, thereby prompting more manufacturers to introduce such devices in the markets. These trend are expected to boost overall demand for breast pumps market during the forecast period.
Market Value Forecast
In terms of value, the global breast pumps market is anticipated to be valued at US$ 2,140.5 Mn by 2026, expanding at a moderate CAGR over the forecast period.
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Growth of the global breast pumps market is mainly driven by increasing women workforce, along with raising awareness about human milk banks. Temporary breastfeeding difficulties such as engorgement, poor attachment, breast refusal, nipple soreness etc. are some factors excepted to drive overall growth of the breast pump market. Companies are adopting various strategies to sustain in the market and create a distinct value proposition for diverse consumer segments in order to offer cost-effective treatment for breastfeeding. This is in turn expected to drive growth of the breast pumps market in developing regions.
The global breast pumps market is expected to witness impressive growth over the forecast period. However, declining birth rates, increasing ageing population, diseases and fertility-related issues and superior quality of substitute alternatives (lactation inducing remedies) is expected to hamper growth of the global breast pumps market.
Segmentation by Product
The global breast pumps market is segmented on the basis of product type into closed breast pumps system and open breast pumps system. Among the various product type segments, open system breast pumps segment is expected to account for highest market share and register a CAGR of 4.8% between 2016 and 2026.
Segmentation by Technology Type
The breast pumps market is segmented on the basis of technology type into electric breast pumps and manual breast pumps. The electric breast pumps segment is further sub-segmented into single electric breast pumps and double electric breast pumps. Double electric breast pumps sub-segment is expected to witness significantly impressive growth during the forecast period.
Segmentation by Application Type
The global breast pumps market is segmented on the basis of application type into personal and hospital. Among the application type segments, personal segment is expected to witness relatively impressive growth during the forecast period.
By region, the global breast pumps market has been segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Middle East & Africa (MEA) and Japan.
North America has been estimated to account for largest share at 34.9% of the global market in 2015, followed by Western Europe. Revenue from the market in Asia Pacific excluding Japan (APEJ) is expected to expand at the highest CAGR of 7.1% over the forecast period.
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Key players in the global breast pumps market include Koninklijke Philips N.V, Pigeon Corporation, Jarden Corporation, Goodbaby International Holdings Ltd., Medela Inc., Ameda Inc., Hygeia Medical Group II, Bailey Medical, Handi-Craft Company, Mayborn Group Limited, Linco Baby Merchandise Works Co., Ltd.
Majority of players operating in the breast pumps market are focused on entering into collaborations and partnerships with local distributors and retailers in order to enhance their presence in markets in various countries across the globe. Moreover, collaborations and partnerships also enable these companies to increase visibility of their products in markets across the concerned regions. Besides, companies are focusing on improving their competitive capabilities to strengthen their market presence worldwide.
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