Breast Pumps Market Overview:
The Global Breast Pumps Market was valued at $540 million in 2015, and is projected to garner revenues worth $829 million by 2022. It is anticipated to register a CAGR of 6.6% during the forecast period. Breast pumps are defined as medical devices used for extracting milk from the breast of lactating mothers. Mostly, these devices are used by working women to continue breastfeeding their babies while still at work. In some instances, doctors also recommend women to use breast pumps to stimulate milk supply when the baby is unable to suck milk. Breast pumps have grown as a suitable choice by the working women. The market is expected to witness a notable growth, due to technological advancements, such as double breast pumps, which help to eliminate fat content from milk and substitute it with higher caloric value.
The growth of the breast pump market is accredited to inadequate maternity leave period, rapid increase in working women population and rise in awareness about the benefits and significance of breastfeeding. Other important factors, such as technological developments in electric breast pumps, increase in healthcare expenditure by the government, and favorable reimbursement scenario will also help in the market growth. However, high maintenance requirement for electrical battery pumps & hospital grade pumps, and high risk of contamination in open system breast pumps. In addition, high cost of breast pumps along with low awareness, particularly in under-developed countries, such as Afghanistan, Bhutan, and Nigeria are likely to restrain the industry growth.
The Global breast pumps market is segmented on the basis of product type, application, technology, and geography. By product type, the industry is split into closed system breast pumps and open system breast pumps. Closed system breast pump is both the highest growing segment and revenue generating segment owing to higher benefits, such as lower risk of mold formation and contamination. Based on application, the market is bifurcated into personal use pumps and healthcare/hospital grade pumps. On the basis of technology, the market is segmented into battery powered breast pumps, manual breast pumps, and electric breast pumps. Geographically, the industry is segmented into North America, Europe, Asia-Pacific (APAC), and Latin America, Middle East and Africa (LAMEA).
North America will lead the breast pumps market in terms of revenue whereas Asia-Pacific will show the highest growth, owing to rise in demand for breast pumps. The Asia-Pacific breast pump market is set to grow at a significant CAGR of 9.7% during the period, 2015- 2022. The factors mainly attributed to the unmet medical needs and rise in disposable income.
The key players of the breast pumps market employ novel concepts & ideas, such as improve manufacturing techniques, current set of products, and enhance their profitability. Therefore, the key players adopt product development as the key developmental strategy in order to keep pace with the demands of end users.
The rise in demand for the breast pumps is due to increase in population of working women across the globe. However, numerous factors, such as cost of breast pumps as well as risk of contamination are likely to restrain the market growth. Moreover, an increase in effect of the drivers and the restraints is likely to reveal new market opportunities by key players manufacturing the pumps.
The Affordable Care Act introduced in the U.S. in 2012 includes a provision that requires insurance companies in the country to cover the equipment and services that promote breast feeding. This means breast pumps and lactation counselling would be given at free of cost. As a result, the demand for breast pumps has significantly increased in the U.S., which is the largest market across the globe.
Battery-powered breast pumps can be divided into rechargeable battery-operated and primary battery-operated breast pumps. As these pumps work on batteries, they are small in size, easy to transport, and can be used efficiently as they do not depend on an external electricity source.
A manual breast pump works by placing the breast shield over the nursing mother’s nipple and areola area. Once in place, the handle or lever on the pump is squeezed to create suction resulting in the expression of milk, which is collected in a container attached to the manual pump. Different types of manual pumps in the market are Philips AVENT manual breast pump, BPA free hand manual breast pump, and NUK manual breast pump.
North America was the largest regional market for breast pumps in the global market. Increase in awareness, change in consumer lifestyle, growth in number of working women, and favorable reimbursement scenario are the major factors driving the North American breast pumps market growth. Asia Pacific is the fastest growing market; hence the established players are focusing on the region.