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Breast Pump Market Overview
The breast pump market is predicted to observe robust growth in the near future, as a result of the favorable reimbursement policies for their purchase, increasing number of women in the workforce, rising awareness related to the benefits of such devices, and surge in the birth rate.
Closed collection systems and open collection systems are the two product types available for purchase, with closed-collection-system variants leading the breast pump market, historically. These witness higher sales, as these carry lesser chances of contamination, and the market players are introducing advanced variants of such devices. In the near future, open-collection-system pumps are projected to witness healthy growth, due to their larger shield, simple design, minimal maintenance requirements, and ease of use.
Battery, electric, and manual are the three technologies on which such equipment works. During the historical period, electric variants occupied a considerable breast pump market share, as they are easier to use than manually operated pumps, customizable, and offer less probability of milk contamination. Manual pumps are expected to witness robust industry growth in the coming years, as they are cost-effective and conveniently available, and their suction rate can be regulated with these. Additionally, in cases where the mother is far from an electricity socket, they offer convenience.
Hospitals and personal are the major end uses of such devices, of which hospitals account for a significant revenue in the breast pump market. This is because of the high birth rate, since the first few days of children are spent in hospitals. Additionally, hospital-grade pumps are especially designed to stimulate the milk flow in women, in whom the production is low, either naturally or because of some health issue. Further, such devices are durable and can be used by multiple mothers, which are other reasons behind their strong position in the industry.
North America currently accounts for the largest breast pump market size, on account of the high proportion of employed women, favorable reimbursement scenario, and increasing awareness on the benefits of breastfeeding. Additionally, due to the high average disposable income, a large chunk of the population in the continent is able to afford such products. In the near future, the highest industry CAGR is predicted for Asia-Pacific (APAC), on account of the increasing focus of regional countries on women and child health, increasing number of births, and rising female employment rate.
Breast Pump Market Dynamics
Among the most important factors responsible for the breast pump market growth is the increasing number of working women. While women employment rate has always been healthy in developed countries, emerging economies are also following suit, as a result of the bettering education system and campaigns by several government and private companies to raise awareness on the issue. However, with limited maternity leaves in several countries and companies, new mothers face difficulty in breastfeeding their newborns.
With conferences, seminars, and TV campaigns, regarding the importance of breastfeeding, being run, the awareness on the issue is rising. With this, an increasing number of women are breastfeeding their children, which can be troublesome for working women, considering their tight schedule. Thus, more and more working females are considering breast pumps as an effective way to complete the task, without having their work schedule compromised. Thus, the surge in the women employment rate, coupled with the growing awareness on breastfeeding, is driving the breast pump market across the world.
Breast Pump Market Competitive Landscape
Mergers, acquisitions, product launches, collaborations, partnerships, and geographical expansion have been the key strategies adopted by the prominent players in the breast pump market to augment their revenue. For instance, in January 2019, breast shields, under the PersonalFit Flex brand, were launched by Medela LLC; the products help in the quicker extraction of extra milk.
The major breast pump market players are Pigeon Corporation, Koninklijke Philips N.V, Goodbaby International Holdings Ltd., Jarden Corporation, Ameda Inc., Medela Inc., Bailey Medical, Hygeia Medical Group II, Mayborn Group Limited, Handi-Craft Company, Whittlestone Inc., Linco Baby Merchandise Works Co. Ltd., Energizer Personal Care, Lansinoh Laboratories Inc., and Guangzhou Happy Baby Products Ltd.