Breast Pumps Market Insights on Market Challenges and New Trends
Breast Pumps Market is expected to garner $829 million by 2022, from $540 million in 2015, registering a CAGR of 6.6% from 2016 to 2022. Based on value, the battery-powered breast pump segment will account for more than two-thirds of the total market share in 2015 and will remain dominant during the forecast period. In terms of volume, the manual breast pump segment accounted for almost a quarter of the total market share in 2015
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The key players analyzed in the research include
Medela AG
Koninklijke Philips N.V. (Philips AVENT)
Ameda Inc.
Bailey Medical Engineering
Hygeia Health
Whittlestone Inc.
Linco Baby Merchandise Works Co. Ltd.
Pigeon Corporation
Energizer Holdings Inc.
Albert Manufacturing USA.
The surge in population of working women, increase in disposable income, and rise in awareness regarding importance of breastfeeding drive the growth in the global breast pumps market. Based on revenue, the closed system breast pumps segment contributed the major share of the market in 2015, and is expected to maintain its dominance during the forecast period along with registering the fastest CAGR of over 6% throughout the forecast period.
The personal use breast pumps contributed the highest share in terms of volume, registering a CAGR of nearly 6% during the forecast period. There is a rise in demand for personal use breast pump, owing to factors including effective pumping techniques, portability, and contamination-free feeding. On the other hand, the market for battery-powered breast pumps would grow at a considerable rate, owing to surge in preferences for efficient and portable pumping systems that presents an easy cleaning option.
Key findings of the report:
The closed system breast pumps segment would become the fastest growing segment in terms of value and volume, registering a CAGR of nearly 6.5% and 7% respectively, during the forecast period.
Asia-Pacific is expected to become the fastest growing segment, registering a CAGR of 9.7%, on the basis of value, from 2016 to 2022.
In 2015, North America contributed nearly three-fifths of the total share in the global breast pumps market based on value.
The hospital grade breast pumps would generate the highest revenue during the period, 2016-2022.
In 2015, the battery powered breast pumps segment became the leading segment and is expected to register the highest growth rate in global breast pump market at CAGR of 6.4% during the forecast period.
Mexico would become the fastest growing market from the North American region.
China and Japan would become the leading countries for breast pumps in the Asia-Pacific region.
Geographically, North America held the major market share in 2015, owing to the surge in adoption of breast pump techniques across the region. However, Asia-Pacific is estimated to grow at the fastest rate, owing to surge in medical needs and rise in awareness about breastfeeding. In terms of value, Europe contributed approximately one-fifth of the total share of the overall market in 2015, owing to a huge number of women utilizing breast pumps.