Jersey City, NJ, Dec. 11, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Human Milk Bank Management Market - (By End User (Hospitals, Milk Bank Centers, and Neonatal Intensive Care Units (NICUs)), By Application (Preterm Infant and Full-term Infant)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Global Human Milk Bank Management Market is expected to grow at a CAGR of 8.61% during the forecast period of 2023-2031.
Human milk banks gather, prepare, and preserve human milk to distribute to infants with medical demands. Breastfeeding moms provide their infants with milk. When a newborn is too sick or young to get breast milk from their mother, a human milk bank collects, processes, and donates it to the baby. To guarantee the safety of their milk supply, milk banks conduct thorough screenings of potential donors, which may include medical history checks, blood testing, and evaluations of the donors' lifestyle choices.
Babies can acquire the nourishment and antibodies they need from donor milk. Adoptive parents who want to provide their babies with the benefits of breast milk often look for donor milk to help cover their nutritional needs. Some newborns have sensitivities to cow's milk or infant formula. Donor human milk is an option that is risk-free and easy on the digestive system. However, medical diseases such as necrotizing enterocolitis (NEC), congenital heart defects, gastrointestinal disorders, and others may necessitate the use of donor milk as an infant's main or combined source of sustenance.
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Recent Developments:
- In Nov 2023, Prolacta Bioscience, the foremost provider of 100% human milk-based nutritional solutions for critically ill, preterm infants in hospitals worldwide, is pleased to declare a noteworthy achievement: Prolacta's Exclusive Human Milk Diet (EHMD) has benefitted more than 100,000 premature and severely unwell infants in hospitals across the globe.
List of Prominent Players in the Human Milk Bank Management Market:
- Prolacta Bioscience
- Milk Matters
- KK Women's Hospital and Children's Hospital
- PREM Bank
- Royal Prince Alfred
- Mothers Milk Bank Pty Ltd
- Mercy Health Breastmilk Bank
- Royal Brisbane and Women's Hospital
- CHOP Mothers' Milk Bank
- Medela
- Others
Human Milk Bank Management Market Report Scope:
| Report Attribute | Specifications |
| Growth Rate CAGR | CAGR of 8.61 % from 2023 to 2031 |
| Quantitative Units | Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report Coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
| Segments Covered | By Application, End-User |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Market Dynamics:
Drivers:
The growing demand for human milk bank management is fueled by due to the rising cost of healthcare. The worldwide human milk bank business is expected to expand healthy over the next five years, boosted by public and private funding. Through the human milk bank, the government is actively involved in regulating the supply chains of human milk, including its acquisition, treatment, storage, and distribution.
In addition to favourable policies and strict regulations to preserve human breast milk's integrity, the worldwide market for human milk banks is expected to experience significant expansion over the next five years. The expected expansion of the worldwide human milk bank industry over the next five years is attributable, in part, to the improved infrastructure of these institutions.
Challenges:
The prime challenge is a lack of awareness, a shortage of competent individuals and a lack of norms and protocol because of lockdowns and isolation in emerging countries, which is predicted to slow the growth of the human milk bank management market. Because many people don't realize how important it is to bank human milk, negligible donations, fewer requests for donor human milk, and restricted donor recruiting could be the results. There is a direct correlation between the number of nursing mothers willing to donate their milk and the demand for donor milk.
The COVID-19 pandemic had several effects on the milk donation and receiving industries. Fewer infants ended up in the neonatal critical care unit, fewer donated milk, and fewer people participated. Activities at human milk banks progressively returned to normal as the epidemic's impact diminished; there were significant increases in the quantity of qualified milk donated and the number of recipients.
Regional Trends:
The North American human milk bank management market is anticipated to record a major market share in revenue. It is projected to grow at a high CAGR in the near future because of the excellent reputation of the local healthcare and medical research systems. North American human milk banking networks are extensive and well-established. Collaborations between these milk banks, hospitals, and organizations are common. Besides, Europe had a considerable market share due to technological advancements and affluence. Awareness of the necessity to promote the health and welfare of premature and sick infants and the advantages of donor human milk is driving this interest.
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Segmentation of Human Milk Bank Management Market-
By End User-
- Hospitals
- Milk Bank Centers
- Neonatal Intensive Care Units (NICUs)
By Application-
- Preterm Infant
- Full-term Infant
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
Read Report Snapshot: https://www.insightaceanalytic.com/report/human-milk-bank-management-market/2262
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