Rockville, Oct. 31, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global breast pumps market is estimated at US$ 1,678.1 Million in 2022 and is expected to expand at an impressive CAGR of 4.3% during the forecast years of 2022-2032. The market is poised to grow due to remarkable technology and product type provided by breast pump.
Breast pump is a medical device which is used by nursing mothers to extract their breast milk and can also be used to enhance their milk production. The milk can be then stored and used by the mothers to feed their infants later. The increase in employment opportunities for women is one of the factor responsible for growth of breast pumps market. New mothers are continuously utilizing the device to continue nursing their infant while working.
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Moreover, rigorous research and development from the manufacturer’s end has attracted the customer’s attention towards the products. Advancements such as single and double electric breast pumps have dominated the breast pump market owing to their several beneficial advantages.
Fact.MR suggests that, in the technology type segment the electric breast pump sub-segment will offer a tremendous growth over the forecasted period. The sub-segment will dominate the market by occupying 69.4% value market share in 2022. Moreover, the market is restrained by the misconceptions about the product use such as chances of infections and loss of nutrient values in milk along with high costs of latest technology inbuilt breast pumps.
Key Takeaways from Market Study
- The global breast pumps market is projected to expand at an impressive value of US$ 2,563.2 Million by 2032.
- The market witnessed 3.6% CAGR for the period of 2017-2021.
- Under technology, electric breast pumps dominate the market and is valued at US$ 1,164.3 Million in 2021.
- North America dominated the market with 34.1% market share in 2021.
- Based on region, demand for breast pumps is expected to increase at CAGRs of 3.0%, 5.7%, 6.2% and 3.5% respectively, in Europe and South Asia & Oceania.
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Market Development
The market for breast pumps is quite fragmented, as the market is led by many international and regional manufacturers, including
- Medela LLC
- Pigeon Group
- Koninklijke Philips N.V
- Ameda Inc.
- Ardo Medical AG
- Evenflo Feeding Inc.
- Mayborn Group Limited (Shanghai Jahwa Co. Ltd.)
Key firms are extensively investing in research and development to provide technologically sophisticated products. To strengthen their position in the breast pump market, key players are implementing strategies such as mergers and acquisitions, alliances, and the development of new products. Manufacturers are also launching low cost products and improvising their marketing strategies in the low-economic geographic regions.
Segmentation of Breast Pumps Industry Research
- By Technology:
- Electric Breast Pumps
- Single Electric Breast Pumps
- Double Electric Breast Pumps
- Manual Breast Pumps
- Electric Breast Pumps
- By Product Type:
- Closed System Breast Pumps
- Open System Breast Pumps
- By End User:
- Homecare Settings
- Healthcare Settings
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & ASEAN
- Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global breast pumps market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of technology (electric breast pump, manual breast pump), product type (closed system breast pump, system breast pump), end user (homecare settings, healthcare settings) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Asean, Oceania, Middle East & Africa).
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