An Incisive, In-depth Analysis on the Breast Pump Market
This study offers a comprehensive, 360 degree analysis on the Breast Pump market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Breast Pump market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Breast pump is a medical device used to elicit breast milk from lactating women. Breast pump products are available in two types, including electric breast pumps and manual breast pumps. Electric breast pumps are further segmented in two types: single electric breast pumps and double electric breast pumps. Over the past few years, there has been an increased awareness about breast pumps, especially in developed countries. Various independent entities have developed as standalone breast pumps manufacturers to cater to the ever-increasing demand for products such as manual and electric breast pumps. In the recent past, companies have been focusing on introducing portable breast pumps targeting the consumer segment, which is anticipated to result in a surge in market share globally by 2027. Also, demand for electric breast pumps is increasing globally, thereby prompting more manufacturers to introduce such devices in the markets. These trend are expected to boost overall demand for breast pumps market during the forecast period.
Market Value Forecast
In terms of value, the global breast pump market is anticipated to be valued at around US$ 2,100 Mn by 2027, expanding at over 4.6% CAGR during the forecast period.
Growth of the global breast pumps market is mainly driven by increasing awareness about human milk banks. There are some factors related to the temporary breastfeeding difficulties, which are expected to drive overall growth of the breast pump market such as engorgement, poor attachment, breast refusal, nipple soreness etc. Companies are adopting various strategies to sustain in the market and create a distinct value proposition for diverse consumer segments in order to offer cost-effective treatment for breastfeeding. This is in turn expected to drive growth of the breast pumps market in developing regions.
The global breast pumps market is expected to witness impressive growth over the forecast period. However, declining birth rates, increasing ageing population, diseases and fertility-related issues and superior quality of substitute alternatives (lactation inducing remedies) is expected to hamper growth of the global breast pumps market.
Electric breast pumps to reflect high potential for growth in the global market during the forecast period
The breast pump market is segmented on the basis of technology into electric breast pumps and manual breast pumps. The electric breast pumps are further sub-segmented into two segments: Single electric breast pumps and double electric breast pumps. The electric breast pump segment contributed the leading shares to the market, and the trend is expected to continue over the forecast period owing to the increasing demand of breast pumps over a forecast period. The electric breast pump segment is estimated to reach high market valuation of more than US$ 1.5 Bn by the end of the year of assessment (2027) from a value a little over US$ 900 Mn in 2017. The electric breast pump segment is projected to grow at a significant rate to register a high CAGR of 5.0% throughout the period of forecast. This segment dominated the global market since 2012 and is likely to continue its dominance over the forecast period.
The double electric breast pump sub segment is expected to largely contribute to the dominance of the parent segment. This sub segment is estimated to touch value around US$ 1 Bn by 2027 end and is projected to grow at a high CAGR of 5.1% during the forecast period. The single electric breast pump sub segment is estimated to reach value of US$ 500 Mn by the end of 2027.
Future Market Insights has come up with a new report titled ‘Breast Pump Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)’. The primary objective of the report is to offer incisive insights on the global market and also covering various dynamics such as trends, drivers, restraints and opportunities for manufacturers and service providers operating in the global breast pump market. The report also offers value forecast for the global breast pump market for the period 2017–2017.
The report starts with an overview of the breast pump market. In the same section, FMI covers the breast pump market performance in terms of revenue. The section also includes FMI’s analysis of drivers and restraints from the supply and demand side perspective. This is followed by global trends and opportunities in the global breast pump market.
The global breast pump market is segmented in-depth to cover every angle of the market with a view to present a holistic picture of the global market in front of the reader.
The report analyses the market based on product type and presents the forecast in terms of value for the next ten years. Product types covered in the report include:
- Closed System Breast Pumps Market
- Open System Breast Pumps Market
The following section of the report analyses the market based on technology type segments and presents the forecast in terms of value for the next ten years. The technology type segments covered in the report include:
Electric Breast Pumps
- Single Electric Breast Pumps
- Double electric Breast Pumps
- Manual Breast Pumps
The subsequent section of the report analyses the market based on end user segment and presents the forecast in terms of value for the next ten years. The end user segment covered in the report include:
- Homecare Settings
- Healthcare Facilities
Furthermore, the report analyses the market based on regions and presents the forecast in terms of value for the next ten years. Regions covered in the report include:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Middle East & Africa (MEA)
The forecast presented for the market assesses the total revenue generated in the breast pump market. When developing the forecast, the starting point involves sizing the current market, which forms the basis for the forecast of how the market is anticipated to take shape in the near future. Given the characteristics of the market, we triangulated the outcome based on analysis of supply side and demand side. However, quantifying the market across the above-mentioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the forecast has been completed. For quantifying of market numbers, we conducted interviews with subject matter experts in the breast pump market field.
In addition, we have taken into consideration the year-on-year growth to understand the predictability of the market and to identify the right growth opportunities in the global breast pump market. Another key feature of this report is the analysis of the breast pump by end user and region; and the market revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. Absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global breast pump.