Breast Pumps Market to Touch US$4.16 Billion by 2025, Says TMR
ALBANY, New York, Feb. 27, 2019 /PRNewswire/ -- According to a report by TMR, the breast pumps market is projected to reach US$4.16 bn by 2025. Further, it is envisaged to expand at a stellar 8.9% CAGR from 2017 to 2025. Breast pumps are manual, single electrical and double electric breast pumps used to extract breast milk by lactating women or mothers. Presently, two breasts pump models are available in the industry - electrical and manual breast pumps. Breast pumps have received immense acceptability in working women having babies and even in the case of single moms. This enables them to extract milk, which can be later fed to their child even in their absence.
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Rising Birth Rates and Lesser Time to Breastfeed Boosts Breast Pumps Market
Growing global populations, rising rate of employment among women, and rising birth rates are expected to drive the global breast pumps market. Other factors such as underdeveloped economies with large untapped opportunities are expected to drive the demand of global breast pumps market.
Rising rate of working ladies is expected to serve this market as a high impact-rendering driver. Working moms hold generally higher dispensable livelihoods and lesser time to breastfeed their infants. Thus, they are viewed as perfect consumers of breast pumps. Furthermore, developed economies such as U.S. and Germany have made it obligatory for organizations to have break policies during work hours for lactating moms to pump breast milk.
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Lactating moms are being increasingly aware about the importance and benefits of breastfeeding. With an overall rise in literacy rates globally, people are eager to adopt advanced medical technologies in their daily lives. Women in some developing regions are turning to technologically advanced devices in their daily lives, to lessen the time spent on routine activities. This is primarily because of increasing disposable incomes and awareness.
High Manufacturing Cost of Breast Pump Challenges the Market
High cost of breast pumps is majorly responsible for hampering market's growth. This is mainly due to the fact that most mothers might prefer using affordable and low cost pumps with high pumping efficiency and accurate filtration, mainly in remote regions another reason hindering the market's growth is risk of milk contamination that mostly happens in an open type of system.
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Nevertheless, increasing mindfulness among mothers, improving healthcare infrastructure, reducing infant death rate, rising population of working moms, and rising government initiatives are prime factors driving the breast pumps market.
The global breast pumps market is highly fragmented and competitive, says Transparency Market Research based on a recently published report. This is because of the presence of a large number of entrants who are competing to stay on top. In the near term, the global breast pumps market is expected to observe an escalated challenge with the passage of various emerging players. In order to stay ahead in the global breast pumps market, some of the key players are seen focusing on collaborations and strategic mergers and acquisitions. They are also investing a considerable amount of money into R&D for better products. Deploying such approaches, some of the firms have come to hold dominant positions in the area are Ardo Medical Ag, Albert Manufacturing USA, Hygeia Health, Evenflo Feeding, Inc., and Spectra Baby USA.
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This review is based on Transparency Market Research's report, titled, "Breast Pumps Market (Product - Single Electric Breast Pumps Double Electric Breast Pumps, and Manual Breast Pumps; Applications - Hospital Grade and Personal Use) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025."
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