New York, US, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Wearable Breast Pump Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), Wearable Breast Pump Market Research Report Information By Operation, Weight, Application Areas- Forecast 2030, wherein the market is expected to grow USD 346 million at a CAGR 10.23% during the forecast period 2022-2030.
Market Scope:
A wearable breast pump is a tube-free, wireless, entirely portable breast pump that may be worn in a bra, as the name suggests. The need for portable breast pumps is predicted to rise as the number of working women increases around the world. Women in the workforce have more disposable income than the general population but less time to devote to breastfeeding their infants, making them prime consumers for wearable breast pumps.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 346 Million |
| CAGR | 10.23% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Operation, Weight, and Application Areas |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Heightened Population With A Soaring Fertility Rate |
| rising consumer awareness regarding healthcare products |
Market Competition:
It is anticipated that the worldwide market for wearable breast pumps would expand at a healthy rate over the estimated time frame. Strong consumption figures and projected annual growth make up the global market. To increase their foothold in the industry, many companies are turning to tactics including mergers and acquisitions, product launches, and growth into new geographies. By implementing these methods, businesses can improve their operations, release more products, and solidify their hold on the market. Consequently, major market participants are working to increase their profits by diversifying their product offerings across regions. Some prominent players in the global wearable breast pumps market include:
- Pigeon Corporation,
- Chiaro Corporation,
- Ardo Medical Ltd,
- Medela AG,
- Ameda Inc.,
- Elvie Curve Manual,
- Momcozy,
- Willow Innovations,
- Nature Bond.
Market USP:
Market Drivers
Wearable breast pumps have benefited from an increase in interest in healthcare items and technological advancements. Because of the challenges that lactating mothers encounter, these gadgets are gaining widespread consumer acceptance around the world. Lactating mothers have increased their use of these devices as a means of feeding their infants. An increasing obstacle has been the difficulty for working mothers in providing adequate nutrition for their infants. The worldwide prevalence of these issues has undoubtedly contributed to the expansion of the portable breast pump market.
Around the world, the rising birthrate has caused a lot of worry. The rising need for standard medical supplies can be directly attributed to the rising number of live births. Increased demand for portable breast pumps can be attributed to the growing human population. Increased population density has proven beneficial to the healthcare industry. Thus, the increasing fertility rate has been a driving force behind the development of vital medical equipment.
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Market Restraints
Manufacturing wearable breast pumps might be difficult due to the unstable cost of raw materials. Market fragmentation can cause changes in the cost of the primary input. It's possible that price swings in raw resources could result from our greater reliance on imported sources. The final price of the products is heavily influenced by these variables. As a result, raw material price fluctuations have an immediate impact on retail prices.
COVID-19 Analysis:
The rapid global spread of COVID-19 has disrupted numerous sectors of the global economy. Since the spread of COVID-19, grocery stores, hypermarkets, and other types of retail outlets have been under extreme demand. There is widespread panic in all sectors of the economy as a result of the pandemic's effects on the worldwide market. In response to the impending shortage, shoppers have been stocking up on necessities. Nonetheless, the practice of stockpiling has resulted in a rapid increase in the value of the global food goods market in 2020–2021. This increase will normalize once the outbreak has been contained.
The impact will be amplified because of low manufacturing capacity and logistical problems. However, the need for technologically advanced items and the shift in consumer buying habits are expected to propel the market to strong growth rates in the long run. In addition, the manufacture of wearable breast pumps has been impacted by the global lockdown. Manufacturers are having trouble keeping up with market demand because they are either suspending production to assuage employee worries or operating production with insufficient manpower. Manufacturers are also worried about getting their hands on raw materials because of COVID-19's effect on logistics. Companies that rely heavily on imports from other nations will find it extremely difficult to operate during this epidemic since international trade will be halted. Financially, manufacturers are also affected by this situation, and they are formulating plans to weather the pandemic with as little damage to their bottom lines as possible.
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Market Segmentation:
By Operation
Automatic segment is likely to record substantial growth over the review period.
By Weight
55 to 1.99 Lbps segment is poised to grow significantly across the forecast period
By Application Areas
Personal segment is expected to rise at a notable CAGR over the review period.
Regional Analysis:
One of the most important aspects contributing to the product's success in the Asia-Pacific area is the region's rising consciousness of the need for such gadgets. Rising demand is a direct outcome of more women entering the labor force. However, it is expected that the growing preference of consumers for working outside the home would boost the sales of wearable breast pump devices.
The market for wearable breast pumps is highly concentrated in North America. There has been a rise in numerous government programs, which has led to this overwhelming success. For instance, the market is likely to benefit from the CDC's, WHO's, and ABM's multiple awareness programs to feed babies with expressed breastmilk utilizing breast pumps. The Centers for Disease Control and Prevention also advocates for breastfeeding mothers. The Centers for Disease Control and Prevention (CDC) has posted rules and suggestions on how to store and prepare breast milk, which is expected to raise women's knowledge of the necessity of breast milk and drive market expansion.
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