Global "Breast
Pump Market" 2025 Industry
research report covers the industry overview with Marketplace Size, Share,
Development, futuristic cost, earnings, demand and distribution data. Its vast
repository offers an analytical summary of the marketplace that can help to the
new and existing player to take a significant decision.
In this report, we
thoroughly examine and analyse the Global market for Breast Pump so that market
participants can improve their business strategy and ensure long-term success.
This report provides players with useful information and suggests result-based
ideas to give them a competitive advantage in the global Breast Pump industry. It
will show how other players compete in the global Breast Pump Market and
explain the strategies you use to differentiate yourself from other
participants.
Download Free Sample Report
Now @ https://www.millioninsights.com/industry-reports/breast-pump-market/request-sample
Global Breast Pump Market
size is expected to reach USD 1.74 billion by 2025. Breast pump is generally
used by working women to continue breastfeeding their babies while still at
work. Also, breast pump is used by those mothers to stimulate lactation in case
of low milk supply and when the baby is unable to suck milk due to some
physical condition. Lactating mothers are becoming increasingly aware about the
importance & benefits of breastfeeding. The breast pump market is expected
to register a CAGR of 7.8% in the upcoming period as the scope, product types,
and its applications are increasing across the globe.
The increasing employment
rate and favorable demographics are the main factors driving the market growth
in the years to come. Additionally, governments’ initiatives such as the BFSI
(Baby Friendly Hospital Initiative) are expected to drive the industry growth
in the next couple of years. In the market, various types of breast pumps are
available such as manual, electric breast pumps, and battery-powered. Electric
breast pumps are identified as the most lucrative segment in the market and expected
to hold the largest market share during the forecast period due to their
greater efficiency in terms of comfort and user-friendliness.
Applications such as
personal use and hospital grade could be explored in breast pump industry. The
“hospital grade” devices are expected to hold the highest market share in the
years to come due to the presence of large number of hospitals and increasing
global birth rate. Electric breast pumps for “personal use” are expected to
grow at a high CAGR in the upcoming period due to growing number of working
mothers and rising healthcare expenditure.
The factors that play an
important role in the growth of breast pump market include increasing demand,
growing population, increasing urbanization & industrialization, growing
working women, changing lifestyle, increasing patient disposable income, rising
awareness about the breast pump, technological advancements such as
introduction of hands-free breast pumps, favorable change in reimbursement
policies, rising birth rates in emerging countries, and growing healthcare
industry. Moreover, increasing healthcare expenditure and improving healthcare
infrastructure in developing economies are anticipated to boost the market
growth in the upcoming period. However, high cost of breast pumps along with
low awareness, risk & side effects related to breast pumps are negatively
impacting the growth of breast pump industry.
The market is widely
analyzed based on different regional factors such as gross domestic product
(GDP), demographics, acceptance, inflation rate and others. The market is
categorized based on product, technology, application and geography. The market
is classified into product such as closed system and open system. The “closed
system” segment dominated the overall market share in terms of revenue in 2016
due to their higher prices and increasing usage rates. This segment is expected
to hold the large market share in the next couple of years because it offers a
more hygienic milk collection mechanism.
North America has been at
the forefront with regards to breast pump market and will continue to rule the
roost in the years to come. The growing working mothers, increasing awareness
about breastfeeding, changing lifestyle, favorable reimbursement policies and
increasing population are major factor driving the growth of market in this
region. On the other hand, Asia Pacific is expected to grow at the higher CAGR
in the next couple of years owing to the increasing healthcare expenditure,
rapid economic development, growing awareness levels and rapidly increasing
working women.
The key players
contributing to the robust development of the breast pump industry include
Medela Inc., Philips Avent, Bailey Medical Engineering, Ameda Breastfeeding
Solutions, Chicco, Hygeia Medical Group, MAM, Evenflo Feeding, Pigeon
Corporation, Mayborn, Whittlestone, Spectra Baby, Albert Manufacturing USA,
Linco Baby Merchandise Works Co., Whittlestone Inc. and Lansinoh Laboratories.
These market players are focusing on inorganic growth to sustain themselves
amidst fierce competition. As such, mergers, acquisitions, and joint ventures
are the need of the hour.
Know
More Insights @ https://newsonmarketblog.wordpress.com
No comments:
Post a Comment