According to the latest report published by Acute Market Reports “Breast Pumps Market Growth, Future Prospects and Competitive Analysis, 2016-2023,” the global breast pumps market was valued at USD 1,361.2 Mn in 2015, and is expected to reach USD 2,236.3 Mn by 2023, expanding at a CAGR of 7.2% from 2016 to 2023.
Browse the full report Breast Pumps Market Growth, Future Prospects and Competitive Analysis, 2016-2023 at https://www.acutemarketreports.com/report/breast-pumps-market
Market Insights
Breast pumps are medically approved mechanical devices that facilitate extraction of breast milk. Breast pumps could be employed in conditions where the nursing mother is separated from the child for the feeding period, and/or medical conditions such as inverted or flat nipples, breast engorgements, and premature birth; these products are also an option for avoiding use of milk substitutes. This market is currently undergoing continuous product innovation and their preference is often supported by Ob/GYNs and pediatrics.
Manual breast pumps are to be operated with no electronic support and are not of potential assistance in frequent breastfeeding. Electric device options are being increasingly preferred over manual products. Portability, motorized operations, custom suction pressures, and ease of use are some of the factors that determine the demand for these products. Among the product variants, double electric breast pumps segment will register the fastest market growth during the forecast period. However, manual pumps will be the largest segment in terms of sales volume. Based on technologies, closed system breast pumps have a larger revenue share than open system breast pumps due to better hygiene and lesser risk of microbial infestation offered through the use of these devices.
The global breast pumps market is concentrated in nature with a three players taking over 55% market share in 2015. Product pricing plays a crucial role in the overall competitiveness of this market. Some of the notable players in the global breast pumps market are Ameda, Pigeon Corporation, Medela, Bailey Medical Engineering, Philips AVENT, Hygeia Medical Group and others.
