Breast Pump Market Industry Insights with Acewin, Albert, Ameda, Ardo, Babybelle, Bailey Medical, Beldico
Growing rate of women employment and presence of favorable demographics will drive breast pump market. Favorable government initiatives and improving healthcare infrastructure in emerging economies will fuel the industry growth over the forecast timeframe.
Improved healthcare infrastructure, introduction of novel technologies like hands-free and water-based technology by medical device companies that expresses milk more quickly, and comfortably will boost the product demand. Furthermore, reduction in pain of engorged breasts when weaning baby and presence of mandatory coverage of breast pumps should propel industry growth. However, soaring product prices and decrease in milk expression due to repeatedly pumping should restrain business growth.
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Closed system dominated the industry owing to prevention of outside air from being exposed to milk by acting as a barrier between the pump tubing and collection kit. Moreover, preservation of the purity in milk and assurance that milk particles will not pass through pump motor or tubing will increase the product demand. Advantages like elimination of pump tube washing and protection from mold growth in the tubing will further drive the closed system market.
Battery powered products will witness significant growth during the forecast years due to growing use of less expensive pumps and high portability. Additionally, wearable models that can be discreetly placed under clothes, allowing to pump hands-free at work or home will propel the breast pump market.
Brazil which accounted for more than 47% of Latin America breast pump market share in 2015, is set to cross USD 14 million by 2024. Introduction of new breast pumps along with improvement in the healthcare activities is anticipated to boost the industry revenue across the region. Breast pump market in China, which is slated to hit USD 94.8 million by 2024, will grow at a rate of 15.5% during the period from 2016 to 2024. Decline in infant mortality rate along with rapid economic development will contribute substantially towards the regional revenue.
U.S. breast pump industry value, worth USD 405 million in 2015, is set to grow at a rate of 4.9% over the coming seven years. Hectic work schedule along with advanced medical sector are the factors expected to drive the regional demand.
Electric, manual, foot-powered, and battery powered are some of the major types of breast pumps. Battery powered breast pump industry, which accounted for more than 50% of the global industry revenue in 2015, is projected to surpass USD 816 million by 2024. The growth can be credited to its movability and handling ease. Electric breast pump market is set to record a CAGR of over 10% during the duration from 2016 to 2024.
High comfort and introduction of user friendly technology in the products is expected to boost the product demand. Electric breast pumps are classified into hospital grade electric pumps and electric pumps for personal use. Hospital grade electric pumps, which contributed more than USD 220 million towards breast pump industry size in 2015, is forecast to exceed USD 520 million by 2024. Beneficial product characteristics such as robustness and longevity is expected to influence the product popularity.
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.
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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.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis: 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.
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