Breast Pumps Market to Reach $890.73 Mn, Globally, by 2030 at 6.8% CAGR: Allied Market Research – Press Release
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Increase in number of working women across the globe, rise in healthcare expenditure by the government, favorable reimbursement scenario, and technological developments in electric breast pumps drive the demand for the global breast pumps market.
PORTLAND, Ore., May 4, 2022 /PRNewswire/ — Allied Market Research recently published a report, titled, “Breast Pumps Market by Product Type (Closed System Breast Pumps, Open System Breast Pumps), by Technology (Manual Breast Pumps, Electric Breast Pumps), by Application (Personal Use Pumps, Hospital Grade Pumps): Global Opportunity Analysis and Industry Forecast, 2020-2030.” According to the report, the global breast pumps industry was pegged at $461.10 million in 2020, and is expected to reach $890.73 million by 2030, growing at a CAGR of 6.8% from 2021 to 2030.
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Drivers, restraints, and opportunities-
Increase in number of working women across the globe, rise in healthcare expenditure by the government, favorable reimbursement scenario, and technological developments in electric breast pumps drive the demand for the global breast pumps market. However, risk of contamination with foreign substances and high pricing of breast pumps impede the market growth. On the other hand, surge in various developmental strategies among the key players, high market potential in untapped developing countries, and development of pipeline products are anticipated to pave the way for multiple opportunities in the industry.
COVID-19 scenario-
- The outbreak of the Covid-19 pandemic negatively impacted the global breast pumps market. A large number of clinics and hospitals around the world were reconfigured to boost hospital capacity for theCovid-19 patients. Due to the substantial increase in Covid-19 cases, non-essential procedures took a potential backlog.
- Manufacturing and shipping of healthcare essentials were both disrupted due to the imposed lockdown. The Covid-19 pandemic resulted in lockdown restrictions and availability of mothers at home, thus lowering demand for breast pumps.
- However, following the pandemic, women will begin to return to work, and the prior trend will continue, stabilizing the market over the projected period.
The open system breast pumps segment held the lion’s share in 2020-
Based on product type, the open system breast pumps segment held the lion’s share in 2020, contributing to more than half of the global breast pumps market, and is expected to continue its lead during the forecast period. Moreover, this segment is expected to witness the highest CAGR of 6.9% by 2030, owing to their wide availability. The report also includes an analysis of the gasification segment.
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The electric breast pumps segment to dominate by 2030-
By technology, the electric breast pumps segment accounted for nearly three-fifths of the global breast pumps market share in 2020, and is anticipated to retain its dominance throughout the forecast period. This is owing to the rapid output and higher availability of single as well as double electric based breast pumps. Moreover, the same segment is expected to witness the highest CAGR of 7.0% by 2030.
North America, to lead the trail in terms of revenue-
By region, North America, garnered the major share in 2020, contributing to nearly half of the global breast pumps market and is expected to dominate the market during the forecast period. However, Asia-Pacific region is expected to witness the fastest CAGR of 8.2%. This is due to the rise in infant population, the surge in awareness regarding the importance of breast milk, and increasing employment among the women.
Key players in the industry-
- Ameda, Inc.
- Medela AG.
- Pigeon Corporation
- Koninklijke Philips N.V.
- Hygeia Healthcare
- Babybelle Asia Ltd.
- Linco Baby Merchandise Works Co. Ltd.
- Ardo Medical AG.
- Albert Manufacturing USA
- Willow Innovations, Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research
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