The global breast pump market is expected to reach US$ 1,901.6 Mn in 2027 from US$ 1,070.25 Mn in 2018. The market is estimated to grow with a CAGR of 6.9% from 2019-2027.
The market is driven by the factors such as, high women employment rates, rising healthcare expenditure, rising patient awareness, and growing healthcare investments from private players and government. However, the market is likely to experience slower growth due to the restraining factors such as working women and their child care crisis.
Rising number of human milk banks are driving the demand for breast pumps. Also the rising number of women employment rate is driving the demand for breast pumps. Now a days, it’s hard for working women to feed their babies when they are not around due to hectic working hours and fast paced lifestyle. Majority of the mothers are able to produce little milk because in many cases a woman may induce lactation as the baby is out near her breast. The milk production can be increased by stimulation and the extra produced milk is stored and can be used later. The electric breast pumps enable to provide stimulation and help in the production of milk, and a woman can store the milk to feed the baby at some other time.
The women employment rate across the world is rising; the trend of increasing education for women is encouraging women employment. Across the world, approximately 40% of the total force is acquired by women. For instance, according to the International Labor Organization data for 2017, states that countries such as the United States and Canada have the comparatively high percentage of women in the workforce which accounts for nearly 48%. Therefore, for the working women breast pump is considered as the best solution to feed babies in their absences. Below is the table depicting the percentage of working women in major countries.
Some of the major primary and secondary sources included in the report for the breast pump market are World Health Organization, National Institute of Health and Medical Research, Centers for Disease Control and Prevention, among the others.