OCEAN VIEW, Delaware, December 6, 2016 /PRNewswire/ --
Breast Pump Market size is estimated to exceed USD 1.6 billion by 2024; as per a new research report by Global Market Insights, Inc.
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Increasing global population, growing women employment rates and rising consumer awareness regarding importance of breast feeding will drive global breast pumps market growth. Favorable reimbursement policies and adoption of technologically advanced products such as hand free breast pumps should fuel breast pumps market growth. Furthermore, increasing patient disposable income and changes in lifestyle should propel business growth.
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Growing penetration of electric breast pumps and rapid substitution of closed breast pumps by open system pumps owing to the advantages offered by technologically advanced products will stimulate global breast pumps market size. Closed system pumps were over USD 720 million, attributing for over 85% of industry revenue in 2015. The segment is expected to capture greater market share over the coming years owing to hygienic breast milk collection mechanism.
Favorable initiatives taken by insurance companies to cover breast pumps related expenses such as visits to lactation consultants, should spur breast pumps market share. Moreover, introduction of rental facilities on electric breast pumps for consumers who cannot afford to purchase should widen overall consumer base. Presence of large untapped opportunities across India, China and Brazil is expected to fuel breast pumps market growth. Economic development, growing patient disposable income with increasing women employment rates, and rising awareness levels should present manufacturers with lucrative business opportunities.
High prices associated with breast pumps should discourage consumers from purchasing, thus hindering global breast pumps market expansion. The higher prices of devices have a significant impact in developing economies where overall purchasing power is relatively low. However, manufacturers are adopting penetration pricing strategies to capture maximum breast pumps market share.
Browse key industry insights spread across 84 pages with 48 market data tables & 11 figures & charts from the report, "Breast Pump Market Size By Product (Open, Closed), By Technology (Manual, Battery Powered, Electric), By Application (Personal Use, Hospital Grade), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Japan, China, Brazil, Mexico, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 - 2024" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/breast-pump-market
Key insights from the report include:
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Global Breast Pumps market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD billion from 2012 to 2024, for the following segments:
Global Breast Pump Market By Product
Global Breast Pump Market By Technology
Global Electric Breast Pump Market By Application
The above information is provided for the following regions and countries:
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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