Breast Pump Market Size is Predicted to Hit Around USD 2,729.2 Million by 2028 With a Registered CAGR of 7.9% from 2022 to 2028 | Vantage Market Research

WASHINGTON, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Breast Pump Market finds that improved healthcare infrastructure, government support to provide advanced facilities for working mothers and increasing women's employment rates are some major parameters considered in the growth of the Breast Pump Market in recent years.

The Global Market revenue stood at a value USD 1,729.5 Million in the year 2021.

The Global Breast Pump Market size is forecasted to reach USD 2,729.2 Million by the year 2028 and is expected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 7.9% during the forecast period; states Vantage Market Research, in a report, titled “Breast Pump Market Size, Share & Trends Analysis Report by Product (Open System, Closed System), by Technology (Manual Pumps, Battery Powered Pumps, Electric Pumps), by Application (Personal Use, Hospital Grade), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

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Key Industry Findings & Insights from the report:

• The global Breast Pump Market was valued USD 1,729.5 Million in 2021 and is all set to surpass USD 2,729.2 Million by 2028, exhibiting a CAGR of 7.9% during the forecast period 2022-2028.
• In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period.
• In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period.
• The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries.
• Asia Pacific captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of Breast Pump industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.
  

List of Prominent Players in the Breast Pump Market:

• Ameda (Magento Inc.)
• Hygeia Health
• Medela AG
• Koninklijke Philips N.V.
• Lansinoh Laboratories Inc.
• Pigeon Corporation
• Motif Medical
• Chiaro Technology Limited (Elvie)
• Willow Innovations Inc.
• Spectra Baby USA.

Market Dynamics:

Driver:

Authorities and Worldwide Companies initiative to Assist Working Mothers Drives the Market

Increasing consumer awareness and government support for working mothers are expected to drive global demand for the Breast Pump Market. For example, the New-born-Friendly Hospitals Initiative (BFHI), which promotes evidence-based practices for successful breastfeeding, was established by the United Nations Children's Fund (UNICEF) and the World Health Organization (WHO) to improve breastfeeding rates and help families achieve their breastfeeding goals. Likewise, most insurance plans are now required to cover specified breastfeeding supplies and aids, such as breast pumps, under the Affordable Care Act. So, such initiatives will increase the use of these products. As a result, purchasing these products becomes easier for the end user, leading to an increasing demand for the Breast Pump Market. Governments encourage mothers to breastfeed their babies until they are 6 months old. In addition, many international agencies organize breastfeeding awareness campaigns. Various market players, such as Medela LLC, Laura & Co., Newell Brands and Ameda, as well as universities, including the University of Washington and Fudan University, are educating women about Breastfeeding and its benefits by organizing campaigns and providing informative magazines, which is also expected to drive the growth of Breast Pump Market.

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Ascending Women’s Employment Rate Drives the Market

The growth of the breast pump market is driven primarily by the increasing number of women working around the world. Working women primarily use these devices to continue breastfeeding during work. Many women find it convenient to store their milk after returning to work, traveling, or leaving the baby. Some breast pumps are designed to resemble feeding an infant. Breast pumps have become a viable option for working women, and portable breast pumps are also conveniently designed. In addition, according to the World Employment Department, the participation rate of women in the world in 2018 was about 48.5%, which is 26.5% lower than the participation rate of men. The unemployment rate in the world for women is 0.8% higher than that for men. In addition, many working mothers use milking pumps to squeeze milk and feed their babies while they are absent from work. Therefore, rising female employment rates are significantly driving the growth of the milking machine market.

Segmentation of the Global Breast Pump Market:

• Product
  • Open System
  • Closed System
• Technology
  • Manual Pumps
  • Battery Powered Pumps
  • Electric Pumps
• Application
  • Personal Use
  • Hospital Grade
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

1. Impact Assessment of COVID-19 Pandemic
   1. North America
   2. Europe
   3. Asia Pacific
   4. Latin America
   5. Middle East & Africa
2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
3. Key Strategies Undertaken by Companies to Tackle COVID-19
4. Long Term Dynamics
5. Short Term Dynamics

The Report on Breast Pump Market Highlights:

• Assessment of the market
• Premium Insights
• Competitive Landscape
• COVID Impact Analysis
• Historic Data, Estimates and Forecast
• Company Profiles
• Global and Regional Dynamics
  

Regional Analysis:

North America Holds Largest Market Share

North America accounted to have largest growth for Breast Pump Market in 2021. This growth is accounted for owing to increasing awareness of breast-feeding, advanced healthcare infrastructure and better access to these devices in this region. In addition, increased market penetration of breast pumps in the region, high female employment rates, medical costs, advanced medical infrastructure, and patient awareness are some other reasons for the Breast Pump Market growth in this region. Also, key players in this sector are developing technologically enhanced products that are set to boost the entire market over the forecast period.

Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on "Breast Pump Market Size, Share & Trends Analysis Report by Product (Open System, Closed System), by Technology (Manual Pumps, Battery Powered Pumps, Electric Pumps), by Application (Personal Use, Hospital Grade), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".

Recent Developments:

May 2019: Spectra Baby USA has launched the first multi-user, hospital-grade breast pump for use in hospitals, obstetric centres and home care facilities.

October 2017: Olle Larsson Holding, the parent company of Medela, acquired Moxxly to redesign and improve the breast pump designs and add novel breast pump devices in Medela AG`s product portfolio.

April 2021: Airbus will replace the mechanical rudder controls on A320neo-family aircraft, switching to a full electric rudder system by early 2024. The modification will coincide with the entry into service of the long-range A321XLR developed with the ‘E-rudder’ architecture in mind.

Key Questions Answered in The Report:

• Which region will show the fastest and highest growth in the near future?
• Which are the top five players and their weakness and strength of the Market?
• What will be the future innovation in the upcoming six years?
• Which application and product will lead the largest share of the Market?
• What are the growth drivers, restraints and challenges of the industry?
• What will be the CAGR and size of the Breast Pump Market for the base year and forecast period?

This market titled “Breast Pump Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

Customization of the Report:

The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.

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