Breast Pump Market Size By Product (Open System, Closed System), By Technology (Manual Pump, Battery Powered Pump, Electric Pump), By Application (Personal Use, Hospital Grade), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Japan, China, India, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Competitive Market Share & Forecast, 2018 - 2024
Breast Pump Market will reach USD 1.6 billion by 2024; as per a new research report.
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.
Escalating adoption of breast pumps and increasing population further propels market growth. Associated advantages with breast pumps encourages customer buying behavior. This is attributable to benefits offered such as proper milk management, filtration, milk storage, and high efficiency. Aforementioned factors are attributed to fuel market 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.
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.
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.
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.
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