The report forecasts the global breast pump market to grow at a CAGR of 10.16% during the period 2016-2020.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
Commenting on the report, an analyst from the research team said: A trend which is positively impacting the market is technological advances. Breast pumps have undergone significant technological advances over the years, becoming a boon for both infants and mothers. The earlier breast pumps were manual, often ineffective, single use, and expensive. This led to a high amount of investment in the R&D of these pumps to build technically advanced solutions and address the issues related to the existing pumps. A key development in the evolution of breast pumps is the introduction of double electric breast pumps, which has made it possible for women to express their milk many times on a daily basis and reduces the average time required during a pumping session.
According to the report, a key growth driver is the rising number of single-parent and nuclear families. Of all the types of single-parent families, the most common type is the one that consists of a mother and her biological children. According to the US Census Bureau, in 2014, 83% of about 12 million single-parent families in the US were headed by single mothers as compared to 17% by single fathers. Since the mothers have to work to take care of the family expenditures, they have to rely on products such as breast pumps. These devices help them cater to the basic needs of the baby when they are away at work.