Big Market Research added a report on “Breast Pumps Market By Technology (Battery Powered Breast Pumps, Manual Breast Pumps And Electric Breast Pumps), Product Type (Closed System Breast Pumps And Open System Breast Pumps) And Application (Personal Use Pumps And Hospital/Healthcare Grade Pumps) - Global Opportunity Analysis And Industry Forecast, 2014 - 2022”
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Breast pumps market are medical devices used for extracting milk from the breast of lactating mother. These devices are used mainly by working women to continue breastfeeding while they are at work.
In some cases, physicians also recommend breast pumps to stimulate milk supply when the baby is unable to latch-on and suckle. Breast pumps have emerged as a preferable choice for the working women.
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The world breast pump market is projected to garner revenues worth $829 million by 2022, registering a CAGR of 6% over the forecast period. The growth of the market is attributed to the rapid increase in working women population, inadequate maternity leave period and the growing awareness about the benefits and importance of breastfeeding.
Other factors such as favourable reimbursement scenario, increasing healthcare expenditure by the government and technological developments in electric breast pumps will also help in the growth of the market. On the other hand, barriers such as high risk of contamination mainly in open system breast pumps, high maintenance of electricity battery pumps and hospital grade pumps, high cost of breast pumps coupled with low awareness, especially in under-developed countries such as Nigeria, Afghanistan and Bhutan are likely to restrain the market growth.
The world breast pump market is segmented on the basis of technology, product type, application and geography. On the basis of technology, the market is segmented into manual breast pumps, battery powered breast pumps and electric breast pumps.
By product type, the market is segmented into closed system breast pumps and open system breast pumps. Closed system breast pumps are both the highest revenue generating segment as well as the highest growing segment owing to higher benefits such as reduced risk of contamination and a preventive barrier between the pump and the milk collection kit.
Based on application, the market is segmented into personal use pumps and healthcare/hospital grade pumps. In terms of geography, the market is segmented into North America, Europe, Asia-Pacific (APAC) and Latin America, Middle East and Africa (LAMEA).
The North America breast pump market will be the leading revenue-generating region whereas Asia-Pacific will be the highest growing region, owing to growing demand for breast pumps. Asia-Pacific breast pump market is set to grow at a promising CAGR of approximately 10% from 2015 to 2022, due to factors such as rising disposable income and highly unmet medical needs.
Companies have adopted product development as their key development strategy in the breast pump market. Increase in focus on product development is mainly for the development of innovative technologies in the field of breast pumps.
In February 2014, Pigeon Corporation launched “Electric Breast Pump” and “Electric Breast Pump First Class’’ to help mothers pump and store breast milk which allows them to continue breastfeeding their babies even when they are at work.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth analysis of the breast pump market across major regions and countries, and total revenue generated during the forecast period
- The report helps in understanding the strategies adopted by various breast pump companies, in order to gain a higher market, share in the global breast pump market
- Region-wise and countrywide shares in the global breast pump market are comprehensively analyzed in the report
- The projections in the report are made by analyzing the current market trends and highlighting the market potential for the period of 2014-2022, in terms of value and volume
- Extensive analysis of the market is conducted by closely following key product positioning and monitoring the top contenders within the market framework.
- Furthermore, key market players within this market have been profiled in this report and their strategies are analyzed thoroughly. This helps in understanding the competitive outlook on the supply side of the market.
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