Albany, NY, May 07, 2018 (GLOBE NEWSWIRE) -- The global breast pumps market had gained a revenue worth US$1971.8 mn in 2016. This revenue is further expected to increase up to US$4164.6 mn by 2025 by depicting a splendid CAGR of 8.9% during a forecast period ranging from 2027 to 2025.
Rise in Working Class of Women Boosts Market’s Growth
A substantial rise in the working women population is chiefly driving the global breast pumps market to achieve notable growth. This scenario mainly exists due to the ease with which women can handle work pressures as well as breastfeeding activities after working hours. In this way, breast pumps have gained a significant popularity among working women, thereby boosting the associated market’s growth. A gradual rise in several awareness campaigns made by public as well as private sectors to spread knowledge about the benefits of breastfeeding is also responsible for customers depicting substantial preference for buying the devices.
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Widespread advancements in breastfeeding devices has improved their working efficiency from an overall perspective, which also has increased customers’ interest for buying the devices. Several developing regions are imposing birth control measures for maintaining population levels. In this way, an adequate use of breast pump devices is expected to positively contribute towards expansion of the global breast pumps market during forthcoming years.
However, high cost of breast pump devices, especially in underdeveloped and emerging economies has posed as a key restraint affecting the global breast pumps market. Such a high cost mainly is associated with hospital grade breast pumps. Some breast pump devices also could cause side effects to consumers in the form of rashes and discolorations, thus discouraging numerous customers from buying the products. Nevertheless, many players are coming up with innovative devices from a cost regulation perspective, thereby offsetting the restraints affecting the global breast pumps market.
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The global breast pumps market depicts the presence of an oligopolistic vendor landscape, owing to maximum market shares being held by most prominent and popular companies, says Transparency Market Research according to a recently published report. With a prominent medical importance attached to the market, most consumers prefer purchasing products sold by prominent brands. Expansion of product portfolios, improving geographical domination, and enhancing marketing activities are chief strategies implemented by most players operating in the market. Product manufacturers are also expected to strive towards concretely establishing themselves in emerging economies, as well as to facilitate extensive research and development-based activities through huge investments.
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Hygeia Health, Koninklijke Philips N.V., Mayborn Group Limited (Shanghai Jahwa Co. Ltd), Ameda, Inc., Ardo Medical Ag, Pigeon Group (Pigeon Corporation), Albert Manufacturing USA (Albert Group), Evenflo Feeding, Inc., and Spectra Baby USA, are leading players operating in the global breast pumps market. Of these, Philips, Ameda Breastfeeding Solutions, and Medela have managed to hold onto maximum market shares.
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