New York, Oct. 10, 2022 (GLOBE NEWSWIRE) -- Research Nester has published a detailed market report on ‘Global Breast Pumps’ factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation
- Growth drivers
- Profiling of key market players
Global Breast Pumps Market Size:
The global breast pumps market is estimated to garner a revenue of approximately USD 11 billion by the end of 2033 by growing at a CAGR of ~10.4% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of nearly USD 3.4 billion in the year 2022. The growth of the market is primarily attributed to the rising number of working women worldwide. For instance, as per the data released by The World Bank, the total labor force of working women, who are of age 15 years or older, across the globe has reached to 46% by 2021. The global market is further expected to be propelled by factors, such as, growing government initiatives for awareness about breast feeding, globally improving healthcare expenditure, increasing birth rate across the world, upsurge in human milk banks, and growing per capita income over the forecast period.
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Global Breast Pumps Market: Key Takeaways
- The North America region to gain the largest share of the revenue in the year 2022
- Closed system segment to dominate the revenue graph
- Hospitals sub-segment remains prominent in the end user segment
Government Initiatives for Awareness about Breast Feeding to Boost Market Growth
A breast pump is a mechanical tool used to extract milk from the breast. It enables the user to store breast milk in bags or storage bottles to use it later. Breast pumps are mainly used to alleviate breast pain and to produce breast milk to infants who are not able to suck milk on their own. As breastfeeding is highly important to promote healthy infant growth and encompasses all of the vitamins and nutrients that a baby requires. Hence, it is a major factor to drive the market growth. For instance, breast milk, which contains lactose around 7%, fat (3%), proteins (1%), and water (86%), is regarded as an essential source of nutrients. Both lactose and fat account for 41 and 50% of the total energy found in milk. Moreover, worldwide increasing ratio of newborns is also hitting the demand for breast pumps. Hence, it is also estimated to be an important factor to fuel the global breast pumps market.
In addition to this, governments of various nations are concerned to improve the good growth ratio in infants and children; therefore, many health awareness related initiatives have been introduced to raise awareness amongst people regarding breast-feeding. This is expected to be a significant factor to add to the growth of the global breast pumps market. As per the World Health Organization (WHO), by 2018, approximately 54% of all infants in the South-East Asia region had been fully breastfed up to the age of 6 months, which was up from 47% in 2015 and exceeding the global target of confirming that at least 50% of newborns are breastfed for the first 6 months of life by 2025.
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Global Breast Pumps Market: Regional Overview
The global breast pumps market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increasing Women Employment Ratio to Propel the Market Growth in the North America Region
The breast pumps market in the North America region holds the highest market share of 52% as of 2022, backed by the spike in women’s employment ratio, high healthcare expenditure, and good healthcare infrastructure. For instance, in the United States, the ratio of women employment in labor force reached around 58% in the year 2019, this was up from 56 per cent in the year 2018. Further, the easy availability of better medical facilities, backed by the favorable medical policies in the region are estimated to elevate the market growth. In addition to this, the boost in the market growth can be ascribed to the rising investment in R&D activities, and the presence of key market players in the region.
Increasing Healthcare Expenditure to Drive Market Growth in the Asia Pacific Region
The breast pumps market in the Asia Pacific region is estimated to witness modest growth over the forecast period on the basis of strengthening healthcare systems in developing nations, expanding easy access to experts to consult about breast pumps, government’s support services and initiatives to create awareness regarding breast pumps, and rising healthcare costs in the region. As per the data by The World Bank, healthcare expenditure, considering the total percentage of the GDP, in the East Asia and Pacific region increased from 6.51% in 2018 to 6.67% in 2019. In addition to this, the increasing women population in the region, is predicted to fuel market growth over the forthcoming coming years.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Breast Pumps Market, Segmentation by Product Type
- Open System
- Closed System
The closed system segment holds a market share of 65% in 2022 owing to its higher utilization, and increased adoption rate due to the more hygienic and contamination-free nature of these breast pumps. For instance, closed system breasts pump have a barrier in between the milk collection kit and the pump mechanism, which prevents the breast milk from being contaminated, while an open system does not have a barrier of any kind.
Global Breast Pumps Market, Segmentation by End User
- Personal Use
- Maternity Centers
- Hospitals
The hospitals segment is projected to obtain a noteworthy share on the account of the rising number of mothers who have lactation, and medical issues in the early stage of motherhood. The growth of this segment can further be accredited to the existence of a huge patient pool in a hospital facility. Moreover, rising healthcare expenditure per capita worldwide is also estimated to propel the growth of this segment. According to the data by The World Bank, as of 2019, current health expenditure per capita among the global population was USD 1,121.97.
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Global Breast Pumps Market, Segmentation by Technology
- Manual
- Single Electric
- Double Electric
- Wearable
Few of the well-known market leaders in the global breast pumps market that are profiled by Research Nester are Medela AG, Pigeon Corporation, Ardo medical AG, Ameda, Inc., Willow Innovations, Inc., Evenflo Feeding, Inc., Beldico, Linco Baby Merchandise Work’s Co., Ltd, BelleMa Co., Microlife Corporation, and others.
Recent Developments in the Global Breast Pumps Market
- In March 2022, the newest and most cutting-edge wearable breast pump from Willow Innovations, Inc. is called Willow Go, and it gives mothers the independence, adaptability, and advantages of cordless, fully in-bra wearable pumps with hospital-grade suction.
- In January 2022, the Solo electric breast pump was launched by Medela AG, which offers more milk with less hassle thanks to its 2-Phase Expression Technology, quick charging system, and long-lasting battery.
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