Market Research Report
Breast Pump Market Size By Product, By Technology, By Application Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025
|Published by||Global Market Insights Inc.||Product code||661546|
|Published||Content info||125 Pages
Delivery time: 2-3 business days
|Breast Pump Market Size By Product, By Technology, By Application Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025|
|Published: August 21, 2019||Content info: 125 Pages||
Breast Pump Market will exceed USD 1.7 billion by 2025; as per a new research report.
Improving healthcare infrastructure in developing economies is projected to drive overall breast pump market growth. India is amongst 20 odd nations globally as well as one of the six non-OECD nation member that has accreditation hospital organization recognized by International Society for Quality in Healthcare, the National Board for Hospitals and Healthcare Providers (NABH). The aforementioned support new entry-level accreditation criteria for healthcare providers and hospitals. Moreover, incorporation of unique hospital identification numbers, as well as geographical location information for hospitals by Registry of Hospitals in Network of Insurance (ROHINI), is offering immense progress in healthcare infrastructure.
Furthermore, several initiatives undertaken by public and private associations to improve women's health will drive business growth. The rising rate of women's employment will further propel the demand for breastfeeding pumps. Moreover, the availability of insurance by various companies is projected to fuel breast pump market growth. However, high cost associated with breast pumps hampers breast pumps market growth.
The closed system accounted for a considerable revenue share of 86.4% in 2018 and will show a significant growth trend during the analysis timeframe. The segment growth is majorly due to the growing adoption of infection-free systems that generally prevent viral, mold, and bacterial infections. A closed system breast pump reduces the possibility of infectious particles and mold growth. Closed system pumps are considered to be more hygienic as they have a barrier, such as a filter, which catches milk before it reaches the pumps working parts. The filter systems provide better sanitary conditions, therefore making the closed systems more preferable amongst the target population. Also, benefits such as longevity of the breast pump should favor significant segmental growth over the coming years.
The battery-powered pumps segment accounted for more than 51% revenue share in 2018 and is expected to witness a similar trend over the forecast years. This is due to the cost-effectiveness of battery-operated pumps coupled with high suction rate. Some of the advantages associated with battery-powered pumps are fast operating speed, easy to use, clean, and assemble. Faster collection of breast milk saves significant amount of time, hence making it more suitable of use for working women. Moreover, the collection of milk from both breasts simultaneously, positively augments product demand.
The personal use segment is anticipated to hold a significant revenue share in 2018 and is projected to witness the growth of 11.7% over the forthcoming years. Personal-use breast pumps offer customization options for optimal and efficient functioning. Various breast pump manufacturing companies provide breast pump accessories such as valves, shields, conversion kits, and connectors. Availability of customization option and increasing demand for personal-use breast pump among working mothers will boost the market growth. Moreover, various reimbursement policies for personal use breast pump will spur the segment growth.
The Asia Pacific breast pump market accounted for more than 11% revenue share in 2018 and is assessed to witness a significant CAGR by 2025. This is due to the rising adoption of breast pump coupled with increasing awareness regarding breastfeeding by various government and non-government organization. The increasing developments in healthcare infrastructure, technological advancement and growing disposable incomes in countries such as India and China will drive the regional business.
Some of the notable business players operating in the breast pump market include Acewin Co, Ltd., Albert, Ameda, Inc., Ardo Medical, Inc., Babybelle Asia Limited, Bailey Medical, Beldico, Buttner-Frank GmbH, Hygeia Health, Koninklijke Philips N.V., Lansinoh Laboratories, Inc, Linco Baby, Medela AG, NUK, Pigeon, and others. These industry players are majority focusing on adopting various organic and inorganic strategies to increase their global footprint and gain more market share in the industry.