Breast Pumps Market (Manual, Battery-powered and Electric Pumps) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018
Albany, NY -- (SBWIRE) -- 02/10/2015 -- The global market for breast pumps, which was valued at US$0.62 billion in 2011, is estimated to grow at a CAGR of 7.5% between 2012 and 2018, thereby reaching a market value of US$1.03 billion by 2018. Breast pumps refer to special medical devices that are used for expressing and storing breast milk. The milk thus expressed can easily be stored in containers for future use. Breast pumps are mostly used for reasons such as stimulating lactation in case there is low milk supply, continuation of feeding on breast milk even after a woman resumes work after maternal leave, and for providing relief from engorgement.
The global breast pumps market is mainly fueled by an increasing population of working women with rising disposable incomes. Over the last ten years, the market for breast pumps has been witnessing double-digit rates of growth. This throws light on the ongoing trend of a rising population of working women. As per industry estimates, it is anticipated that the global breast pumps market will witness robust growth during the forecast period 2012 to 2018.
Changing Consumer Preferences to Propel Electric Breast Pumps Segment
The segmentation of the global breast pumps market is based on three main parameters, which are the type of pumping system, the product design, and geography. On the basis of the type of pumping system, the global breast pumps market is classified into electric, manual, and battery-powered pumps. The electric pumps segment is further classified into hospital-grade electric pumps, and personal electric pumps. Based on product design, this market is segmented into open system pumps, and closed system pumps.
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The largest share in the global breast pumps market within the pumping system segment is held by electric pumps. The market for electric pumps is primarily fueled by changing consumer preferences which involves a shift in demand from less durable devices to aesthetically sound, fast, and user-friendly devices. Apart from rising disposable incomes, the global breast pumps market is also driven by greater awareness with regard to the importance and benefits of breastfeeding.
Europe and North America: Dominant Regional Players in the Global Breast Pumps Market
Geographically, the global breast pumps market is categorized into Europe, Asia Pacific, North America, and Rest of the World. North America and Europe are by far the largest regional markets for breast pumps in the overall market for the same. The production and sale of breast pumps in these regions is led by Medela Inc. The breast pumps market in Europe and North America are driven by high disposable incomes, and also greater affordability of technologically efficient and advanced medical devices for routine tasks, as a consequence of an overall greater level of technical innovation and encouragement for the same. These markets are characterized by product innovation and continuous development mainly driven by greater access to affordable technology in the area of advanced medical devices.
What are the Factors that Govern the Growth of the Global Breast Pumps Market?
Ongoing trends conclude that the Asia Pacific market for breast pumps will witness the highest rate of growth during the forecast period owing to factors like increasing disposable incomes, widespread awareness about the benefits of breastfeeding, and rising population. The other factors fueling the Asia Pacific breast pumps market are economic growth and continuous technological advancements. The global breast pumps market is propelled by rising birth rates, high population growth rate, increasing number of working women all across the globe, and changing lifestyles.
Some of the key companies operating in the global breast pumps market are Whittlestone, Inc., Royal Philips Electronics NV, Lansinoh Laboratories, Inc., Hygeia Medical Group II, Medela AG, Bailey Medical Engineering, and Energizer Holdings, Inc.
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