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(Medical-NewsWire.com, December 30, 2017 ) Breast pumps are like a boon for working women who cannot constantly nurse their babies due to work commitments. In the recent years, breast pumps have gained popularity among working women population across the world, since breast pumps provide them ease to balance work life and continue breastfeeding even after returning to work. According to a recent analysis, the global breast pumps market is expected to reach US$4,164.6 mn by the end of 2025, from US$1,971.8 mn in 2016. If the market figures hold true, the global breast pumps market will report a progressive 8.9% CAGR between 2017 and 2025.
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Market Research Hub (MRH) has broadcasted this latest study to its massive repository, which is titled as “Breast Pumps Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025” and offers a holistic outlook of the market covering market trends, factors along with industry growth prospects from 2012 to 2017, and forecast to 2022. The report also highlights opportunities in the breast pumps market at the global and regional level.
Geographical Analysis
The regional outlook offered in the report offers analysis and insights on the markets in Latin America, Asia-Pacific, Europe, North America and Middle East & Africa. Of these, North America held the leading market share in 2016. However, over the course of the report’s forecast period, the Asia Pacific market is likely to exhibit a higher CAGR of 9.4%. The factors contributing to the growth of market in North America are growing number of single and nuclear families, government initiatives to provide mandatory coverage for breast pumps, rising demand for breastfeeding products, and consistent launch of new products by the established key player.
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Factors Fueling Market Growth of Breast Pumps
Various factors are supporting the expansion of the global breast pumps market. For instance, the rising rate of women employment, coupled with supportive government initiatives, has proved a boon for the market. Huge consumer base for breast pumps owing to rising number of births in developing countries has further driven the market growth of global breast pumps market.
Alongside rising women employment worldwide, the rising disposable income of consumers will have a positive impact on the market as well. However, risk and side effects related to breast pumps and high cost of hospital grade breast pumps are the major restraining factors for the growth of breast pumps market.
Also, the market has been segmented on the basis of product and applications. Based on product, the breast pumps market is segmented as single electric breast pumps, double electric breast pumps, and manual breast pumps. Automated electric pumps with double pump system offer convenience to women in expressing breast milk, therefore it has higher demand.
Based on applications, breast pumps market is segmented into hospital grade and personal use. The personal use breast pumps segment accounts for highest market share for breast pumps.
At the end, the research throws lights on the major players along with their latest efforts and development to increase their market share. Key players include Evenflo Feeding, Inc., Pigeon Group (Pigeon Corporation), Medela LLC., Spectra Baby USA, Albert Manufacturing USA (Albert Group), Koninklijke Philips N.V., Ameda, Inc., Ardo Medical Ag, Mayborn Group Limited (Shanghai Jahwa Co. Ltd), Hygeia Health and others.
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