Breast Pump Market Size By Product (Open, Closed), By Technology (Manual, Battery Powered, Electric), By Application (Personal Use, Hospital Grade), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Japan, China, Brazil, Mexico, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
Published Date: December 2016 | 84 Pages | Report ID: GMI729 Report Format: PDF
Breast Pump Market size was USD 849.2 million in 2015, with 7.7% CAGR estimation from 2016 to 2024.
U.S. Breast Pumps Market Size, by Technology, 2012- 2024 (USD Mn)
Growing women employment rate, supportive government initiatives aimed at improving consumer awareness levels, and improving healthcare infrastructure in emerging economies will drive the global breast pump market size.
Rising global population coupled with increasing birth rate, especially in the emerging economies should significantly boost breast pump devices demand. As per the UN estimates, global population is expected to reach 8.5 billion by 2030 and 9.7 billion by 2050.
Increasing women employment is expected to propel breast pumps market size over coming years. For instance, women employment rate in China has increased from 63.5% in 2010 to 63.8% in 2012, while in Germany the rate increased from 53% in 2010 to 54.1% in 2012. Working females hold relatively higher disposable incomes and lesser time to breastfeed their babies and therefore, form a huge customer base for breast pumps.
Favorable government initiatives should encourage use of breast pump devices. For instance, some government provisions require insurance companies to cover the equipment and services that promote breast feeding incurring no cost to the patient.
Rapid economic development, rising disposable income of patients and growing adoption of breast pumps on account of improved patient awareness will fuel breast pumps market growth in emerging Asian and Latin American economies. Manufacturers investing in these developing regions are expected to record high business growth.
Breast Pump Market, By Product
Closed system attributed for over 85% of breast pump market share with target market size slated to reach USD 1,506 million by 2024, owing to high usage rates associated with their improved hygiene.
Battery powered breast pump market share held over 54% of overall revenue,slated to exceed USD 816 million by 2024, while electric pumps will manifest lucrative 10.6% growth over the forecast period owing to higher efficacy in terms of comfort and user friendliness technology exhibited by these products.
Hospital grade electric pumps was valued at over USD 220 million in 2015 and anticipated to surpass USD 520 million by 2024 due to their favorable features such as durability, strength, and ability to be used by multiple users.
Breast Pump Market, By Region
U.S. breast pump market size was valued at over USD 405 million in 2015 and growing at 4.9% from 2016 to 2024. Rising women employment rate, growing healthcare expenditure and increasing patient awareness should contribute towards business growth.
Germany breast pumps market share was over 28% of regional revenue in 2015, with robust growth of 9.6% over the forecast period. Increasing women employment rate, rising dual income households and growing awareness regarding breast feeding should propel regional industry growth.
China breast pump market size is projected to foresee robust growth of 15.5% from 2016 to 2024 to reach USD 94.8 million by 2024. The factors that should fuel industry growth include increasing birth rate, high economic growth, rising women employment rate, increase in awareness levels and growing consumer spending on home healthcare products such as mother care and baby care products.
Competitive Market Share
Global breast pump market analysis reveals an oligopolistic nature and domination by few giant players such as Medela, Philips and Ameda Breastfeeding Solutions collectively accounting for over 75% of industry revenue in 2015. A large number of small local players supply breast pumps via a crude network of distributors, and thus, their collective contribution to the global breast pumps market is relatively low.
The other industry participants include Hygeia Medical Group, Whittlestone, Lansinoh Laboratories, Bailey Medical and Energizer Personal Care.
Breast Pump Industry Background
Introduction of technologically sophisticated products and introduction of rental facilities on electric versions for consumers who cannot afford purchasing will widen the overall consumer base.
High prices of breast pumps will restrain the breast pumps market growth. The average price for manual breast pumps in U.S. is approximately USD 40, while battery-powered breast pumps cost over USD 100. The high prices of breast pumps discourage consumers from purchasing, particularly in developing nations where the overall purchasing power of consumer is low. Industry players are focusing on adopting effective pricing strategies that will fuel uptake of breast pumps. Ongoing initiatives for product innovation and differentiation and strategic tie-ups with retailers will improve breast pumps market competitiveness.
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