U.S. Breast Pump Market to record massive gains over 2018-2024| Acewin, Albert, Ameda, Ardo, Babybelle, Bailey Medical, Beldico, Buettner-Frank, Hygeia Health
Breast pump market is one of the renowned business fraternities demonstrating a rather high growth pace in the healthcare and medical devices sector. A plethora of factors and trends have been favoring the growing demand of breast pump over the recent years. The increasing birth rate, developing healthcare infrastructure, new awareness programmes launched by the government bodies, and the growing women employment ratio are few of such factors propelling the breast pump industry trends.
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As per the statistics, women employment rate in China and Germany was recorded to be 63.8% and 54.1% respectively in 2012. The demand from this demography is poised to increase substantially over the years as working women have less time to breastfeed their offspring thus forming a higher consumer base for this industry.
Another trend prominently shaping up breast pump market is the high product demand observed in countries of Asia and Latin America, primarily driven by the enhanced healthcare infrastructure facility across these regions. According to Global Market Insights, Inc., “Breast pump market, which collected a revenue of nearly USD 849.2 million in 2015, is projected to surpass USD 1.6 billion by 2024.”
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Breast pumps make use of closed and open collection systems to collect milk from lactating women breasts. Closed system pumps, which contributed revenue of more than USD 720 million in 2015, is foreseen to hit USD 1506 million by 2024. The expansion of the industry can be ascribed to sanitary breast milk collecting mechanism of these closed milk collecting systems.
However, higher costs of breast pumps across various regions will restrict consumers from purchasing these products, thereby obstructing the expansion of breast pump industry. To overcome the cost issues, industry participants are implementing effective competitive pricing strategies to proliferate their business. Introduction of rental facilities on electric pumps along with favorable steps taken by insurance firms to cover costs pertaining to breast pumps will enhance the demand for the products.
Global breast pump industry displayed an oligopolistic nature with only few of the players sharing the business space in 2015. Some of the prominent names in the industry include Lansinoh Laboratories Incorporation, Buettner-Frank GmbH, Hygeia Medical Company Limited, Ameda Incorporation, Medela, Whittlestone Incorporation, Energizer Holdings Incorporation, and Linco Baby Merchandise Works Company Limited. As per reliable statistics, Philips, Medela, and Ameda Breastfeeding Solutions collectively shared 75% of overall revenue in 2015.
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Partial Table of Contents (ToC) of the report:
Chapter 4. Breast Pump Market, By Product
4.1. Global breast pump market share, by product, 2017 & 2024
4.2. Open system
4.2.1. Market estimates and forecast, by region, 2013 – 2024
4.3. Closed system
4.3.1. Market estimates and forecast, by region, 2013 – 2024
Chapter 5. Breast Pump Market, By Technology
5.1. Global breast pump market share, by technology, 2017 & 2024
5.2. Manual pump
5.2.1. Market estimates and forecast, by region, 2013 – 2024
5.3. Battery powered pump
5.3.1. Market estimates and forecast, by region, 2013 – 2024
5.4. Electric pump
5.4.1. Market estimates and forecast, by region, 2013 – 2024
Chapter 6. Breast Pump Market, By Application
6.1. Global breast pump market share, by application, 2017 & 2024
6.2. Personal use
6.2.1. Market estimates and forecast, by region, 2013 – 2024
6.3. Hospital grade
6.3.1. Market estimates and forecast, by region, 2013 – 2024
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