The global breast pump market is anticipated to be valued at around US$ 2,100 Mn by 2027, expanding at over 4.6% CAGR during the forecast period.
Albany, NY -- (SBWIRE) -- 03/28/2018 -- Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled "Breast Pump Market: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2027)" offers a detailed analysis of the market, providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the global Breast Pump market have been elaborated upon in the research report.
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Breast pump is a medical device used to elicit breast milk from lactating women. Breast pump products are available in two types, including electric breast pumps and manual breast pumps. Electric breast pumps are further segmented in two types: single electric breast pumps and double electric breast pumps. Over the past few years, there has been an increased awareness about breast pumps, especially in developed countries. Various independent entities have developed as standalone breast pumps manufacturers to cater to the ever-increasing demand for products such as manual and electric breast pumps. In the recent past, companies have been focusing on introducing portable breast pumps targeting the consumer segment, which is anticipated to result in a surge in market share globally by 2027. Also, demand for electric breast pumps is increasing globally, thereby prompting more manufacturers to introduce such devices in the markets. These trend are expected to boost overall demand for breast pumps market during the forecast period.
Market Value Forecast
In terms of value, the global breast pump market is anticipated to be valued at around US$ 2,100 Mn by 2027, expanding at over 4.6% CAGR during the forecast period.
Growth of the global breast pumps market is mainly driven by increasing awareness about human milk banks. There are some factors related to the temporary breastfeeding difficulties, which are expected to drive overall growth of the breast pump market such as engorgement, poor attachment, breast refusal, nipple soreness etc. Companies are adopting various strategies to sustain in the market and create a distinct value proposition for diverse consumer segments in order to offer cost-effective treatment for breastfeeding. This is in turn expected to drive growth of the breast pumps market in developing regions.
The global breast pumps market is expected to witness impressive growth over the forecast period. However, declining birth rates, increasing ageing population, diseases and fertility-related issues and superior quality of substitute alternatives (lactation inducing remedies) is expected to hamper growth of the global breast pumps market.
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Electric breast pumps to reflect high potential for growth in the global market during the forecast period
The breast pump market is segmented on the basis of technology into electric breast pumps and manual breast pumps. The electric breast pumps are further sub-segmented into two segments: Single electric breast pumps and double electric breast pumps. The electric breast pump segment contributed the leading shares to the market, and the trend is expected to continue over the forecast period owing to the increasing demand of breast pumps over a forecast period. The electric breast pump segment is estimated to reach high market valuation of more than US$ 1.5 Bn by the end of the year of assessment (2027) from a value a little over US$ 900 Mn in 2017. The electric breast pump segment is projected to grow at a significant rate to register a high CAGR of 5.0% throughout the period of forecast. This segment dominated the global market since 2012 and is likely to continue its dominance over the forecast period.
The double electric breast pump sub segment is expected to largely contribute to the dominance of the parent segment. This sub segment is estimated to touch value around US$ 1 Bn by 2027 end and is projected to grow at a high CAGR of 5.1% during the forecast period. The single electric breast pump sub segment is estimated to reach value of US$ 500 Mn by the end of 2027.
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