A breast pump is a mechanical device which is used by lactating mothers to extract milk from their breasts. These pumps are used as an alternative to breastfeeding and can be utilized to stimulate lactation in women with low milk supply. They can be manual and powered by hand or foot movements or electrical and powered by batteries or electricity.
According to the latest report by IMARC Group titled, “Breast Pump Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market reached a value of US$ 683.7 Million in 2018. Looking forward, the market is expected to reach a value of US$ 997.7 Million by 2024, exhibiting a CAGR of around 6.5% during 2019-2024.
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An increasing number of working women, resulting in rising disposable income, is anticipated to boost the growth of the market. Furthermore, there is a growing awareness about the significance of breastfeeding; however, with a higher number of working mothers, there is a lack of time available for doing so. Breast pumps are hence widely used by working mothers as a convenient option amidst a busy schedule. These pumps are further utilized to accumulate breast milk by working mothers so that someone else can later feed the baby. Moreover, doctors also recommend mothers to use breast pumps to stimulate milk supply in case the baby is unable to suck it.
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Additionally, difficulties in breastfeeding such as engorgement, poor attachment, nipple soreness and breast refusal also act as driving factors for the global breast pump market. Emerging economies offer significant growth potential for the market. With an overall increase in literacy rates in these regions people are now more inclined toward incorporating advanced technologies in their daily life activities. Furthermore, technological advancements leading to new, more convenient products and increasing healthcare expenditure by the government are leading to an increased demand for the product.
Breakup by Type:
· Open system
· Closed system
Breakup by Technology:
Breakup by Application
· Personal Care
· North America
· Asia Pacific
· Middle East and Africa
· Latin America
The report has also examined the competitive landscape of global breast pump market. Some of the major players in the market are Philips Avent, Pigeon Corporation, Medela, Ameda, Hygeia Medical Group II, etc.
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This post was originally published on The Market Plan