According to Grand View Research Inc., breast pumps are medical devices utilized by lactating mothers to draw milk through suction from their breasts. These devices help store milk and use it when the baby needs to be fed. Growing population coupled with escalating women employment is the key driver of the breast pumps market.
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In 2013, the worldwide market contributed over USD 1,000 million. It is likely to cross USD 200 million by 2020.The market would grow at more than 8.5% CAGR from 2014 to 2022. Variations in reimbursement policies, rising patient disposable incomes, changes in lifestyles, and technological innovations are the other factors that increase the sales of the breast pumps market.
Grand View Research also states that untapped opportunities in Brazil, China, and India are boosting the market revenues over the forecast period. According to the Centers of Diseases Control and Prevention (CDC), in 2011, over 75% infants in the U.S. were breastfed .Out of this, more than 47% were breastfed for six months and the rest for a year. The breast pumps market consists of three technologies.
These are battery, electric, and manual. Battery and electric led the global market in 2013.The market products include closed system pumps, and open system pumps. The prominent applications are hospital use, and personal. Enhanced demand for breast pumps across these applications is projected to steer the market forward. ROW, North America, Asia Pacific, and Europe are vital regions. In 2013, North America contributed the largest share in terms of revenue. A large consumer base, advanced healthcare facilities, and high disposable incomes in the region were responsible for the same. The Asian Pacific breast pumps market would grow in the future. This will happen due to augmented health awareness and population.
The major participants in the market include Guangzhou Happy Baby Products Ltd., Bailey Medical Engineering, Philips AVENT, Whittlestone Inc., and Lansinoh Laboratories Inc. Buettner-Frank GmbH, Energizer Holdings Inc., Ameda Breastfeeding Solutions, and Hygeia Medical Group II are the other important breast pumps market players. Competitive strategies are being adopted by these players to hold significant market shares and stay ahead of others.
Information Source: Grand View Research