Press release
Medela, Philips, Profiled in Breast Pump Market Report 2018-2024 | Top Manufacturers are Pigeon, Acewin, NUK, Albert, Ameda, Ardo, Babybelle, Beldico, Hygeia Health, Lansinoh Laboratories, Linco Baby Merchandise Work's
Breast Pump Market, Global Breast Pump Market Size, Breast Pump Industry, Breast Pump Market Trends
Improving healthcare infrastructure and escalating rate of women employment are factors driving breast pump market growth. Favorable reimbursement policies along with several initiatives undertaken by government to offer breast pumps to mothers is projected to fuel business growth. In addition to, many companies offer customer service as well as support mothers with Affordable Care Act (ACA) that require health plans to cover breastfeeding supplies and provide support. Availability of insurance covered pumps by various companies is estimated to fuel breast pump market growth. Breast Pump Market will reach USD 1.6 billion by 2024; as per a new research report.
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U.S. breast pump market is projected to grow at a CAGR of 5.1% during 2018 to 2024. Increasing adoption of breast pump and favorable reimbursement coupled with surging demand from working women are factors contributing to U.S. breast pump business growth.
Excessive cost associated with breast pump hinders market growth. The double pumps can cost in range of around USD 60 to USD 3500 and there is additional cost of breast pump related products. These include storage containers, storage bags, products used for sterilization of bottles, nipples, and breast shields. Above-mentioned products are necessary for collecting milk and thus cost exceeds that hampers market growth.
Rising demand for closed system breast pump and related advantages is estimated to boost business growth. Benefits provided by closed system include efficient filtration thus, eliminating the necessity of cleaning. Additionally, this also reduces possibility of infectious particles growth or even mold growth. Aforementioned factors are anticipated to boost business growth and closed system segment accounted for 845 USD million in 2017.
Electric breast pump segment held 30.9% of market share in 2017. The growth is attributable to rising demand coupled with associated advantages in electric pumps such as multiple settings that needs less effort as compared to manual pump.
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Advent in technology such as enhanced suction providing high amount of breast milk collection coupled with filtration avoiding contamination of milk are factors driving hospital grade segment growth. Hospital grade segment accounted for 866.2 USD million in 2017.
Germany accounted for 22.6% market share in 2017. Launch of advanced breast pump along with rising employment rate of women are factors boosting market growth in Germany. According to the Center for Economic & Policy Research (CEPR), German women have detected the biggest progresses in their employment rate, that increased by nearly 17 percentage points.
Key business players are Acewin, Albert, Ameda, Ardo, Babybelle, Bailey Medical, Beldico, Buettner-Frank, Hygeia Health, Lansinoh Laboratories, Linco Baby Merchandise Work's, Medela, NUK, Philips, Pigeon, and Spectra Baby Products.
Prominent industry competitors are emphasizing on launch of technologically advanced breast pump with efficient low noise pumping feature. Industry players are also concentrating more on strategic acquisitions and product promotion to sustain their position in the market and generate more revenue. For instance, in August 2017, Albert presented its product range at the MEDICA, thus enhancing the brand image of the its products.
Table of Content:
Chapter 1. Breast Pump Market Methodology and Scope
Chapter 2. Breast Pump Market Executive Summary
Chapter 3. Breast Pump Industry Insights
Chapter 4. Breast Pump Market, By Product
Chapter 5. Breast Pump Market, By Technology
Chapter 6. Breast Pump Market, By Application
Chapter 7. Breast Pump Market, By Region
Chapter 8. Breast Pump Market Company Profiles
For more information on this report, please visit at: https://www.marketstudyreport.com/reports/breast-pump-market/?utm_source=OPR-SP
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