Breast Pumps Market,2020-2027 Edit
Launch and approval of novel breast pumps is expected to drive the market growth
In 2018, Elvie, a U.K.-based breast pump manufacturer, launched cordless breast pump that can be worn inconspicuously in any nursing bra. The newly launched breast pump is compact, wire-free, and easier for user to move freely without being bound to sit by a power socket.
In December 2016, Naya Health, Inc. launched Naya pump with water-based technology. The device connects to the Naya Health Tracker app, which help mothers to control the machine and track the amount of milk expressed and the amount consumed by the baby. Launch of such innovative and novel products in the market is expected to drive the global breast pumps market growth over the forecast period.
The global breast pumps market size was valued at US$ 696.4 Mn in 2018 and is expected to exhibit a CAGR of 5.9% over the forecast period (2020 – 2027).
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Increasing number of women in the workforce is a major factor driving the global breast pumps market growth
According to the U.S. Department of Labor (DOL), around 57% of women were part of the U.S. workforce in 2015. Furthermore, the DOL expects that by 2024, women in the age group of 25 to 34 years would constitute the major share of employed women in the U.S. On the contrary, as per the World Bank Statistics, emerging economies such as India witnessed a decline in the female workforce from 35% in 1990 to 27% in 2014.
This is mainly attributed to cultural and societal factors, and dearth of suitable job opportunities within close proximity to place of residence. However, women empowerment programs are expected to change the scenario and increase the number of women enlisted in the workforce in the country over the forecast period. Countries such as Bangladesh and Sri Lanka reported a significant increase in participation of women in the workforce, as per the 2015 World Bank data. Increasing women workforce is expected to drive the breast pumps market growth over the forecast period.
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Rising disposable income and favorable reimbursement policies is increasing demand for electric breast pumps in the global breast pumps market
Automated electric pumps with double pump system offers convenience to women in expressing breast milk. Increasing insurance coverage and availability of reimbursement policies is increasing adoption of electric breast pumps in the developed markets. Aftermarket for electric breast pumps have witnessed major traction in recent years, wherein renting is an affordable option for women, especially in emerging economies.
Battery-powered breast pumps are more beneficial for on-the-go users. The demand for manually operated breast pumps is expected to decline over the forecast period, owing to better features and benefits offered by electric and battery-powered breast pumps.
Key players operating in the global breast pumps market include Medela AG, Ameda Breastfeeding Solutions, Philips AVENT, Lansinoh Laboratories, Inc., Hygeia Medical Group, Whittlestone Inc., Bailey Medical, Energizer Personal Care, LLC (Playtex Baby), Jarden Corporation, and Mayborn Group Limited.
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