Breast Pump Market size expected to grow at a CAGR of over 8.5% during 2016-2024
Breast pump market size can be segmented into open and closed systems. Closed breast pump market share dominates the industry with over 80% revenue in 2015. Closed pumps prevent entry of microorganisms and impurities thus rendering safe for child’s health. This segment will drive the market grow owing to its relative benefits over open breast pumps system.
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Breast pump market technologies include single-electric, manual, double-electric, and battery powered. Battery-powered breast pumps market share was responsible for over 50% global revenue in 2015. These are the most preferred choice of working women due to its portability, operational motor, suction pressures and ease of handling. Technological advancement and rising demand from high income group women will drive growth of this segment.
Based on application, market is categorized into hospital grade and personal use breast pumps. Personal use breast pumps is a single user system that comes in small size. Hospital grade pumps dominated the market due to its use by a number of people visiting hospital on daily basis. The market is expected to witness continuous product innovation and its growth will be supported by obstetrics and pediatrics.
North America dominated the global space, led by U.S. breast pumps market, followed by Europe, Asia Pacific, Middle East & Africa and Japan. Demand in North America will be driven by a large working women population, breast feeding initiatives and reimbursement provided on purchase of such devices. The provision in U.S Affordable Care Act requires insurance companies to cover the cost of renting or purchasing breast pumps along with cost of visits to lactation consultants. These benefits provided to lactating mothers will improve the usage rates of breast pumps during the forecast period.
Europe breast pump market share is expected to manifest a healthy growth owing to the good economic development, government initiatives to provide tax concessions on breast pumps purchase and growing awareness regarding benefits of breastfeeding. Increased adoption of medically advanced products and raising funds to support UNICEF and WHO breast feeding programs by emerging markets such as China, India and Brazil will accelerate the regional market growth.
With the spread of internet, the trend of online retailing is gaining grounds due to competitive prices, availability of wide range of products and quick delivery services. Online retailing is expected to grow faster as the vendors have a greater reach and better visibility compared to other distribution channels. Online buying and selling of breast milk through several websites will increase the demand for breast pumps.
The industry is dominated by few players holding majority breast pump market share. Product pricing plays a significant role in the overall market competitiveness. Major players in the breast pumps market are Bailey Medical Engineering, Mayborn Group Ltd., Ameda AG, Hygeia Medical Group II, NUK USA LLC, Lansinoh Laboratories Inc., Royal Philips Electronics NV, Pigeon Corp., MedelaAG, ARDO Medical AG, and Whittlestone Inc.