Market Research Report
Wearable Breast Pumps Market Size, Share & Trends Analysis Report By Component (Wearable Pumps, Accessories), By Technology (Manual Pumps, Battery Operated Pumps, Smart Pumps), By Region, And Segment Forecasts, 2022 - 2030
|Wearable Breast Pumps Market Size, Share & Trends Analysis Report By Component (Wearable Pumps, Accessories), By Technology (Manual Pumps, Battery Operated Pumps, Smart Pumps), By Region, And Segment Forecasts, 2022 - 2030|
Published: April 19, 2022
Grand View Research, Inc.
Content info: 90 Pages
Delivery time: 2-10 business days
The global wearable breast pumps market is anticipated to reach USD 848.44 million by 2030, registering a CAGR of 6.6%, according to a new report by Grand View Research, Inc. Favorable reimbursement policies, and increasing patient disposable income are further anticipated to propel the demand for wearable breast pumps.
The decreasing infant mortality rate is supplementing the growth of the market. For instance, according to Knoema, the infant mortality rate in Japan fell from 13.4 deaths per 1,000 births in 1970, to 1.80 deaths in 2019. Similarly, as per Statistics Canada, the infant death rate has fallen from 4.8 per 1,000 in 2018 to 4.5 in 2020 in Canada. Such instances are expected to increase the demand for wearable breast pumps, thereby, propelling the market growth over the forecast period.
Increase in women's employment rate is expected to be a high impact rendering driver of the market. For instance, as per International Labor Organization, the female working population in Australia has touched 60%. Similarly, as per the similar source, the female employment rate in high income countries is estimated to be 53%, whereas, the same in low income and upper middle-income countries is calculated to be 56% and 55% respectively. Working women have a relatively high disposable income, as a result can help the market impel.
The presence of various e-commerce sites offering wearable breast pumps will further aid in the sales of the products through these sales channels in the forecast period. Willow, Elvie, Medela, and Amazon, are few prominent e-commerce sites that offers substantial discounts, and prompt customer service on various wearable breast pumps, owing to which individuals prefer to shop from online sites.
The decline in the COVID-19 population is anticipated to boost market growth. Recently, many companies have called back their employees to work from office. For instance, companies such as Sun Pharmaceuticals, Biocon, and JP Morgan are planning to start work from office. This will surge the need for wearable breast pumps for working women, thereby propelling the market growth in post-COVID-19 time. Similarly, to cope with the rising demand many companies are launching new products and expanding their geographic presence. For instance, in February 2021, Medela LLC launched a new category expansion and breast care products with an aim of meeting customer requirements. This was expected to expand the customer base of the company.