In a groundbreaking revelation, the Global Breast Pump Industry is on the cusp of a monumental transformation, poised to achieve a remarkable valuation of US$ 2,672.30 million by the year 2033. According to the latest insights from Future Market Insights (FMI), the market is anticipated to experience a noteworthy Compound Annual Growth Rate (CAGR) of 3.90%, marking a substantial leap from its current valuation of US$ 1,827.00 million in 2023.
This projected surge underscores a compelling narrative of evolution within the breast pump industry, as it charts an impressive course toward a thriving future. Several factors contribute to this remarkable growth, with technological advancements emerging as a pivotal force propelling the sector into a new era.
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Since the last few years, the percentage of working women in workplaces across the globe has been declining (46.2% in 2019 as compared to 50.9% in 1990 as per “Catalyst”).
Emerging economies are witnessing impressive growth in healthcare spending. This can be attributed to improvements in healthcare technology and changing lifestyles, which is fuelling the demand for breast pumps among urban women. According to WHO, global healthcare spending rose by 2.4% in 2014 over 2013. Healthcare spending is growing at a rate of 5% in developing regions. A rise in healthcare expenditure is expected to boost the overall adoption of breast pumps among women, especially in the Asia Pacific.
Breast pump adoption is as high as 85% among breastfeeding women at 3 months post-birth. Furthermore, marketplace discussions indicate that the availability of breast pump accessory products will also encourage the adoption of electric breast pumps in developed markets. In this regard, infant product manufacturers are increasingly bundling other pump-related products, such as nursing bras and breast pumping bras, to sell complete packages of breast pumps, which is more profitable than isolated sales. Electrical breast pump packages find more adoption than manual breast pump products due to better volume of output. These innovative solutions are projected to fuel Global Breast Pump Industry revenues in the global electric breast pump market during the forecast period.
Global Breast Pump Industry Key Players:
- Koninklijke Philips N.V.,
- Pigeon Corporation,
- Newell Brands,
- Medela Inc.,
- Ameda Inc.,
- Hygeia II Medical Group Inc.,
- Bailey Medical,
- Mayborn Group Ltd. and Linco Baby Merchandise Works Co., Ltd.
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The Electric breast pump market is more technologically advanced with higher product pricing and low penetration. This category of breast pump comprises few global breast pump manufacturing companies. Potential new entrants in the Global Breast Pump Industry are trying to capture and improve their market position by using innovative marketing strategies, such as inorganic growth. Breast pump manufacturers are expanding their product portfolio using the latest technologies.
The availability of BPA-free breast pump products is fuelling breast pump adoption in developed as well as more affluent markets in developing regions. In the recent past, breast pump manufacturers have begun offering bisphenol A or BPA-free breast pump products to increase sales. BPA is a chemical used to make milk containers or feeding bottles rigid and more resistant and has been associated with adverse health effects, such as neural and fertility issues. Examples of some BPA-free breast pump products are the Philips Avent Manual Comfort Breast Pump from Koninklijke Philips N.V. and BPA-free breast pumps by Medela, Inc.
The rapid rise in promotional/supporting campaigns for Breast Pump products is fuelling revenue growth of the Global Breast Pump Industry. In November 2012, leading breast pump manufacturer Medela launched a campaign titled ‘Virtual Human Milk Collection Campaign’ to commemorate Prematurity Awareness Month, where the breast pump manufacturer encouraged and demonstrated the importance of breast milk for infants and babies. Medela has also donated US$ 30,000 worth of breastfeeding-related products to various neonatal intensive care units across the U.S.
Some of the leading breast pump manufacturing companies analyzed in the report include Koninklijke Philips N.V., Pigeon Corporation, Newell Brands, Medela Inc., Ameda Inc., Hygeia II Medical Group Inc., Bailey Medical, Mayborn Group Ltd. and Linco Baby Merchandise Works Co., Ltd.
Additional Questions Answered
Readers can find detailed information about the important positive and negative factors likely to affect the Breast Pump market during the forecast period. Additionally, this Global Breast Pump Industry report also contains valuable information that can provide Breast Pump manufacturers with answers to critical questions, such as
Which types of products account for the maximum demand in the Global Breast Pump Industry and why?
Why is the sales of Breast Pump services and products highest in North America?
Which regulations in various regional segments are influencing the strategies of players in the Breast Pump market?
Why is APEJ currently attracting traction in the Global Breast Pump Industry?
What are some of the current technology types and trends adopted by various Breast Pump companies?
What are the promotional strategies being applied by breast pump manufacturers to sustain themselves in the competitive Breast Pump market?
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Global Breast Pump Industry Key Segments Covered
by Product Type
- Open System Breast Pumps
- Closed System Breast Pumps
by Technology Type
- electric
- manual breast pumps
by End User
- homecare settings
- healthcare facilities
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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