PUBLISHER: Verified Market Research | PRODUCT CODE: 1616396
PUBLISHER: Verified Market Research | PRODUCT CODE: 1616396
Breast Pumps Market size was valued at USD 1.80 Billion in 2022 and is projected to reach USD 2.35 Billion by 2030 , growing at a CAGR of 8.10% from 2023 to 2030. The growing number of newborns across the globe, rising women's employment, and the increasing number of women joining the general workforce are expected to drive the breast pumps market over the predicted years. The Global Breast Pumps Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Breast Pumps Market Definition
A breast pump is a medical device that is used to extract milk from lactating mothers' breasts. The milk can be stored and used later. These devices are mainly used by working women who want to continue breastfeeding their babies while at work. Sometimes, when a baby is unable to suck milk, doctors may advise mothers to use a breast pump to stimulate milk supply. There are currently two types of breast pumps in the market, namely electrical and manual breast pumps. Working mothers in the United States generally prefer automatic electronic breast pumps. These automatic breast pumps have a variable cycling time and adjustable suction level.
Double pumps are more effective and help to reduce pumping time as they drain both breasts at the same time. They are divided into two types based on the product, namely open system breast pumps and closed system breast pumps. Breast pumps are classified into two types based on the technology, namely electrical and manual breast pumps. Electric Breast Pumps are further classified as single electric breast pumps and double electric breast pumps. Hospitals and home care facilities are the end users of these pumps.
Global Breast Pumps Market Overview
The growing number of newborns across the globe and rising women's employment are expected to drive the breast pumps market over the predicted years. Additionally, the market is anticipated to grow in the approaching years due to rising healthcare costs and technical improvements in medical equipment. Additionally, it is anticipated that the introduction of the idea of human milk banks and the rising number of women entering the workforce would boost the market during the anticipated time. There are some limitations and difficulties that may prevent the market from expanding. Factors such as declining birth rates, growing fertility-related issues, and the availability of breast milk substitutes are likely to act as market restraints.
In contrast, the breast pump sector has grown at a rapid pace in recent years and is projected to continue in the future. Due to low patient knowledge, rising Asian countries currently have a moderate adoption rate. The market's future viability will be aided by economic development in these regions, as well as an increase in patients' disposable money. Manufacturers who invest in these fast-emerging areas can expect to see quick growth if pricing and distribution strategies are implemented correctly, creating a large market for breast pumps.
In every industry, the Covid-19 issue has raised the demand for internet commerce. Customers can find a range of breast pumps on platforms such as Amazon, Flipkart, Babysworld, MeeMee, and Firstcry. Despite the fact that non-prescription breast pushes are accessible, individuals avoid going out for fear of contracting the disease. Furthermore, both the mother and the infant are in a vulnerable situation in terms of health, particularly while the mother is nursing. As a result, internet sales in the breast pump market will present exciting growth opportunities.
The Global Breast Pumps Market is segmented based on Product, Technology, End-user, and Geography.
Based on the Product, the market is bifurcated into Open System Breast Pump and Closed System Breast Pump. The closed system breast pump segment accounts for the highest revenue share of the Global Breast Pumps market in 2020 and is expected to dominate the market over the forecast period owing to the increased adoption rate due to the more hygienic and contamination-free nature of these breast pumps. These factors are driving the growth of this segment significantly.
Based on the Technology, the market is bifurcated into Electric Breast Pump, Manual Breast Pump, and Battery Powered Breast Pump. The electric breast pump segment accounted for the highest revenue share of the Global Breast Pumps market due to factors such as effective and faster suction and the ability to pump both breasts simultaneously. These factors are driving the growth of the Global Breast Pumps market in this segment.
Based on End-user, the market is bifurcated into Hospital, Home Care, and Maternity Center. The hospital-grade pumps segment accounted for the highest revenue share of the Global Breast Pumps market because they are larger, stronger, and more long-lasting. Furthermore, hospital-grade pumps are FDA-regulated and have been approved as safe for multiple users. These factors are driving the growth of the Global Breast Pumps market in this segment.
Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.