Global Breast Pumps Market on a Steady Growth Clip, Witnesses Moderate Decline in Sales amid the COVID-19 Pandemic, Projects Fact.MR
Published : 06 Apr 2020 Industry: Healthcare
The number of working women has increased substantially in the past several years. Many corporate and non-corporate organizations are hiring women within their workforce and offering high-paying jobs. As most of their dedication is devoted towards their work, many young mothers find limited time to take care of their infants. Since infants require regular breast milk intake, women are increasingly relying on breast pumps to feed their babies.
Based on this trend, the global breast pumps market is prophesied to expand healthily during the forecast period (2020-2025), expanding 1.7x. Other growth drivers ensuring a positive growth trajectory include rising insurance coverage for breast pumps, increased awareness about breastfeeding and technological advancements in breast pump feeding techniques.
Key Takeaways from the Global Breast Pumps Market Study:
- By product, double-electric breast pumps are poised to find increased usage among women. Technological advancements as well as increased insurance coverage by public and private sectors is anticipated to boost the segment’s growth. An example of technological advancements in breast pumps is the Willow Breast Pump. It is a hands-free, cordless and noiseless pump which extracts milk without the slightest discomfort to women. Anticipated CAGR for this segment is a whopping 10.4%.
- However, single-electric breast pumps shall register equally widespread usage, attributed to its affordability, faster pumping rate, portability and potency. The segment is anticipated to expand staggeringly at a CAGR of 9.7% across the forecast period. It is poised to capture over 2/5th of the global breast pumps market.
- Application-wise, the personal use segment is projected to dominate the global breast pumps market. Government initiatives to create awareness about the benefits of breast feeding has prompted consumers to opt for personal usage of breast pumps. In addition, technological advancements in electric breast pumps and increase in working women workforce shall augment market growth. The segment is set to expand healthily at a CAGR of 10.4%.
- By region, North America is poised to capture the maximum market share with regard to global breast pumps. Increasing government initiative to spread awareness about breastfeeding, growing healthcare expenditure and unfavorable maternity leave policies are key growth levers. Anticipated CAGR for North America is 9.8%.
- Asia-Pacific shows lucrative market opportunities for the global breast pumps market, expanding at a CAGR of 10.0%. Rising birth rates, increased disposable incomes and greater women workforce as well as entry of market players are poised to drive the region’s growth in a positive direction.
- The COVID-19 pandemic is poised to have a moderate impact on the production and distribution of breast pumps. The sales are anticipated to decline owing to a majority of the women working from home, enabling them to devote more time towards breastfeeding their infants. However, hospitals and clinics are poised to leverage demand for the pumps, owing to rising precautionary measures being implemented in such settings to stem the spread of the COVID-19 infection. One of these practices includes extracting breast milk through pumps and then feeding it to the infants.
“The global breast pumps market has a positive future ahead. The burgeoning trend of working women and rising birth rates shall provide impetus for future growth. Taking this into account, leading manufacturers are concentrating on strengthening their base by targeting lucrative markets to increase their sales,” concludes a Fact.MR analyst.
Global Breast Pumps Market Competition Structure:
The global breast pumps market consists of a large number of important market players. These are: Medela LLC, Pigeon Group, Koninklijke Philips N.V, Ameda, Inc., Ardo Medical AG, Evenflo Feeding, Inc. and Mayborn Group Limited (Shanghai Jahwa Co. Ltd.) to name a few. Educating consumers, entry into lucrative markets with new distribution networks and expanding direct and indirect sales activities are key strategies adopted by market players.
Medela LLC, the leading market player, relies on digital media to communicate directly with consumers. Its MyMedela App provides assistance in meeting daily breastfeeding goals with personalized content, an activity tracker, pumping tips and interactive checklists. Besides this, it also manufactures the Harmony Manual Breast Pump and Sonata Smart Electric Breast Pump among others.
Another market leader, Pigeon Group, manufactures the Pigeon Manual Breast Pump with Glass Shield, the Pigeon C Type Silent Electric Breast Pump and Lansinoh Smartpump Double Electric Breast Pump. It also conducted maternity seminars in 2016 to spread awareness about the importance of breastfeeding to working women.
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The research study on the global breast pumps market by Fact.MR incorporates an unbiased assessment of key factors and trends responsible for shaping the landscape of the global breast pumps market over 2020-2025. It includes a detailed assessment of key parameters that are anticipated to exert influence during 2020-2025. Market statistics have been presented on the basis of product (Single-electric Breast Pumps, Double-electric Breast Pumps and Manual Breast Pumps), usage type (Disposable Retractors & Re-usable Retractors) and application (Hospital Grade and Personal Use) across five major regions.
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