Industry Outlook and Trend Analysis
The global Breast Pumps Market was worth USD 0.66 billion in the year 2012 and is expected to reach approximately USD 1.42 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 7.18% during the forecast period. According to information published by UNICEF, there were almost 830 million women working in various industries in 2013. These women face constant pressure to resume work after giving birth and search for items which would assist them in balancing their priorities of work life. The market opportunity for breast feeding pumps incorporates the working ladies in both organized and chaotic segments, and furthermore ladies who remain at home. A portion of the drivers distinguished for Breast Pump Market incorporate the constant suggestion by the healthcare fraternity that children should be breastfed for a period of six months to one year. Additionally, the quick rise in the population of working women, lacking maternity leave period and surging requirement to fulfill nutritional levels are certain factors that are anticipated to boost the development of this market. The rates of breast feeding have been enhancing over the period if past ten years due to rising awareness and support campaigns from international organizations, healthcare providers, non-profit groups and governments. In 2013, as indicated by the information distributed by the United States CDC, out of 76.5% babies who were breastfed, about 49% of the newborn children were breastfed at a half year and the rest 27% were breastfed at 1 years old year. The states in the United States with high rates of breast feeding incorporate Colorado California, Idaho, and Oregon. The Affordable Care Act has an arrangement which commands the insurance agencies to take care of expenses of visits to lactation advisors and expenses of leasing or buying breast pumps. This advantage can be profited by all mothers who are lactating, and are required to fundamentally support utilization rates over the estimate time frame.
Product Outlook and Trend Analysis
In terms of type of product, In light of the kind of item, the market is classified as and closed system and open system pumps. The market was dominated by closed system breast pumps in 2013 with a share of 82 percent. Major factors for such a high share incorporates greatest removal of contaminations, enhanced safety of the child’s health and convenient cleaning of these devices. Moreover, these pumps have a hindrance between an accumulation kit and the pumping unit or motor to keep the milk form getting contaminated and from entering the pump tubing or motor. These advantages are key components ascribing for the portions major share.
Technology Outlook and Trend Analysis
In terms of technology, the market is divided into electric pumps, manual pumps and battery controlled pumps. The battery controlled pumps represented most of the profit share of 55.4 percent in 2013. Key reasons ascribed for the major share are expanding disposable cash levels, rising requirement for these items by working ladies and the general advantages of the item. Nonetheless, because of mechanical progressions and better productivity, the electric pumps are anticipated to be the quickest developing item fragment in terms of technology.
Application Outlook and Trend Analysis
In terms of application the market is segmented into personal use and hospital grade. Personal use pumps are smaller and normally designed for a single user or mother. Some personal use pumps such as EnJoye electric pumps by Hygeia and pump and the Medical Nurture III by Bailey have been approved by the Food and Drug administration as safe for several users. However, the market was dominated by the electric breast pumps for hospital use in 2013 with a share of 90 percent owing to high rates of utilization.
Regional Outlook and Trend Analysis
In 2013, North America represented the biggest share of 63 percent. Key components ascribing to its major share are vast number of working women and rising awareness about breast feeding. Additionally, in the United States, initiatives made by the government to give repayment to buying breast pumps and for visiting lactation advisors are relied upon to fundamentally spur utilization rates over the estimate time frame. However, Asia Pacific is anticipated to be the quickest developing area over the gauge time frame, because of high financial improvement, expanding in expendable salaries, rising population of working women, absence of sufficient maternity leave and expanding awareness about the use of breast pumps.
Some of the major players in the market are Linco Baby Merchandise Work's Co.Ltd, Philips AVENT, Ameda Breastfeeding Solutions, Büttner-Frank GmbH, Lansinoh Laboratories, Guangzhou Happy Baby Products Ltd, Bailey Medical Engineering, Whittlestone Inc, Bailey Medical Engineering, MEDELA LLC and Hygeia II Medical Group, Inc.
The global Breast pumps market is segmented as follows-
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2012 and forecast from 2013 to 2022?
What will be the industry market growth from 2013 to 2022?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?