Breast Pumps Market
Overview of the Market:
It is anticipated that the Breast Pump Market will record a 7.5% CAGR during the forecast period. Breast pumps are used to remove milk from their breasts by lactating females. There are many benefits of feeding the mother’s milk to babies, as breast milk includes significant antibodies by which the child can develop a powerful immune system, thereby reducing the likelihood of becoming ill. Breast pumps assist boost milk supply and assist working mothers store the infants milk. Thus, it is anticipated that the advantages of breast milk will boost market growth.
Rising global women employment rates is one of the major factor driving the market:
Women are just as smart and powerful as males, making up about 50% of the complete population of the world. The International Labor Organization ILO has launched the 2030 UN agenda, announcing that gender, youth and the disabled should be paid equally, without discrimination, and “to attain gender equality and empower all females and girls to attain productive jobs, gender equality, empowerment of females, and economic development. Womens labor force participation rate at worldwide level is estimated at 48.5% in 2018, which is 26.5% lower than that of mens employment rates, according to World Employment.
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Womens worldwide unemployment rate is 0.8% greater than mens. Many working mothers choose breast pumps to pump the milk and feed the child when theyre out for the job. Breast pumps facilitate milk pumping and save a great deal of time. Therefore, it is anticipated that the rise in womens worldwide employment rates will drive the market in the future.
High costs hamper the market growth during the forecast period:
Breast pumps are often very costly and every mother, particularly automated pumps, is unable to afford them. Most of the women employed choose to use breast pumps to pump the milk. In some cases, premature babies are admitted to the NICU Neonatal Intensive Care Unit , where for better care and recovery, babies are fed with pumped breast milk. Many new mothers, in the event of twins, do not have enough milk for newborns. Most mothers prefer to pump breast milk in such cases, so it ultimately improves the supply of milk. However, breast pumps involve elevated costs, which acts as a barrier to the use of breast pumps by many females, which is a significant limiting factor for the breast pumps market.
North America dominates the market and in the forecast period expected to do the same:
Due to enhanced awareness of breastfeeding and rising employment rates among females, the Breast Pumps Market retained the largest industry share for 2017 in North America. Globally, a favorable reimbursement scenario is given for those seeking advice from lactation advisors in the United States.
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Key Developments:
• In January 2018: Freemie launched a portable breast pump that helps mothers to sleep while pumping.
• In January 2017: Willow has launched a portable breast pump that offer mothers freedom as they collect the milk while the mom moves.
The key players in the market include Ameda AG, Ardo, Babybelle, Bailey Medical, Beldico, Linco Baby Merchandise Works Co. Ltd., Freemie, Medela AG, Koninklijke Philips NV, and Willow, among others.
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