Breast Pumps Market Outlook, Trend, Growth and Share Estimation Analysis
The global breast pumps market is expected to witness considerable growth over the tenure of assessment, from 2017 to 2025. The market is likely to exhibit a growth rate of 8.9% CAGR, reaching the value of US$ 4164.6 mn through 2025. The growth of the global breast pumps market is supported by increased government initiatives and augmented participation of women into the workforce.
Various supportive government initiatives like breastfeeding initiative by UNICEF in the U.K. are likely to work in favor of the global breast pumps market. Such initiatives are anticipated to escalate the demand for breast pumps.
Koninklijke Philips N.V, Linco Baby Merchandise Works Co., Ltd., Pigeon Corporation, Hygeia Medical Group, Lansinoh Laboratories, Inc., and Whittlestone, Inc. are some of the well-known names found in the global breast pumps market.
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Presence of Several Leading Market Players to Boost North America Market
North America is likely to dominate the global breast pump market over the forecast tenure. The growth in the region is estimated to be spearheaded by the U.S. Rising awareness about the use of breast pumps coupled with a rise in the number of breast milk banks are estimated to help in the expansion of the regional market in the years to come. There has been a rise in the number of breast milk donors, which is likely to add impetus to the growth of the breast pumps market in the region. There has been a presence of several market players in the region, which has added momentum to the regional market over the assessment.
The Asia Pacific breast pumps market is poised to high growth during the assessment tenure due to augmented investment in the healthcare sector by the government of this region. This has led to increased healthcare expenditure in the Asia Pacific region. Leading market players have turned their attention toward this region as there exists a huge untapped market in the region. In addition, an increasing number of women has started working in the region, which opens up more opportunities for the global breast pumps market.
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Improved Healthcare System is Estimated to Generate Demand for Breast Pumps
The global breast pumps market is estimated to gather momentum from the improved healthcare infrastructure in many of the developing countries, such as India and China. It is of utmost importance for any country to meet the unmet health-related demand of the population, thereby providing better access to healthcare services. In addition, several initiatives are being taken by both private and public organizations to improve the health condition of women across the globe.
Increased employment of women in different parts of the world is likely to add to the impetus of the market over the tenure of assessment, from 2017 to 2025. Numerous reforms and improvements in the healthcare system is likely to work in favor of the market.
Increased awareness about the benefits of breast milk coupled with the rising demand for a healthy lifestyle is likely to generate demand for the breast pumps in the years to come. Apart from healthy breast milk, breast pumps are also easy to use, thus it is gaining traction amongst the working mothers.
On the other hand, the high cost of the breast pump is likely to impede the expansion of the global breast pumps market over the forecast tenure.