Breast pump refers to a medical device which is used for extracting breast milk from lactating women. This not only prevents discomfort but also helps to keep infection at bay while the expressed milk can be used to feed the baby later. Breast pumps are very useful for working women who cannot nurse their babies constantly due to work commitments. In addition, a breast pump can be used to stimulate lactation for women with a low milk supply. According to IMARC Group’s latest report, titled “Breast Pump Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global breast pump market reached a value of US$ 642 Million in 2017.
Owing to the differences in economic condition, culture and societal beliefs, the demand for breast pumps significantly varies from region to region. Over the past few years, their demand has witnessed a surge, particularly in the developed regions. This can be attributed to a large number of working women supported by increased awareness about the benefits and importance of breastfeeding. Additionally, technological developments, such as double breast pumps which help to eliminate fat content from milk and substitute it with higher caloric value, have also influenced the demand for breast pumps. Moreover, government initiatives towards consumer awareness as well as improving healthcare infrastructure in emerging economies are some of the other forces which are expected to facilitate the market growth. Looking forward, the market is projected to reach a value of US$ 953 Million in 2023, exhibiting a CAGR of 6.8% during 2018-2023.
The report has segmented the market on the basis of type into closed system breast pump and open system breast pump. Based on technology, battery-powered breast pump accounted for the majority of the market share, followed by electric breast pump and manual breast pump. The report has also segmented the market on the basis of application into hospital and personal care. On a regional-basis, North America represents the largest market, accounting for the majority of the total share. Other major markets include Europe, Asia-Pacific, Latin America, and Middle East and Africa. The report has further analysed the competitive landscape of the market with some of the key global players being Philips Avent, Pigeon Corporation, Medela, Ameda and Hygeia Medical Group II.
This report provides a deep insight into the global breast pump industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the breast pump industry in any manner.
Key questions answered in this report:
- How has the global breast pump market performed so far and how will it perform in the coming years?
- What are the key regions in the global breast pump market?
- What are the key application segments in the global breast pump market?
- Which are the popular product types in the global breast pump market?
- What are the various stages in the value chain of the global breast pump market?
- What are the key driving factors and challenges in the global breast pump market?
- What is the structure of the global breast pump market and who are the key players?
- What is the degree of competition in the global breast pump market?
- How are breast pump manufactured?