Breast Pump Market Size, Share, Growth, Analys forecast 2028 – The Insight Partners.
Posted by niket gore on August 2nd, 2022
Breast Pump market is expected to reach US$ 5,778.97 million by 2028 from US$ 2,574.00 million in 2020. The market is estimated to grow with a CAGR of 10.7% from 2021 to 2028. The report highlights the trends prevalent in the global breast pump market and the factors driving the market along with those that act as deterrents to its growth.
The global breast pump market is segmented by type, technology, and distribution channel. Based on the technology, the market is segmented into manual breast pump and electric breast pump. The electric breast pump segment is further categorized into single electric breast pump and double electric breast pump. Based on type, the breast pump market is segmented into closed system breast pump and open system breast pump. Based on distribution channel, the breast pump market is segmented into consumer stores and online distribution.The market for breast pumps is expected to grow significantly due to factors such as high women employment rates, rising healthcare expenditure, growing patient awareness, and increasing healthcare investments from private players and government bodies.
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Increasing birth rates
Soaring birth rates among developing economies are responsible for fueling global baby boom. However, the rising birth rate also contributes to rising birth defects and inability of mothers to breast feed their newborns due to different reasons such mother’s death or mother suffering from severe disease such as hepatitis and AIDS. According to a report published by Bill and Melinda Gates Foundation in 2018, there are almost 250 babies born every minute across the globe. According to the Centers for Disease Control and Prevention, the fertility rates for Hispanic women were highest in 2017 with 67.1 births per 1,000 women. Asian countries such as India and China also have high fertility rates due to factors such as effects of religion, inadequate supply of family welfare services, poverty, and others. According to the World Bank, the fertility rates in India were reported to be 2.23 births per women as compared with 1.80 in the US and 1.62 in China. Moreover, neighboring countries of India, such as Pakistan, have alarming rates of fertility. In 2016, the birth rate in Pakistan was reported to be 3.48 births per woman, as per the World Bank data. These rates are soaring even more in the African regions that are underdeveloped. Niger tops the fertility rate list in the world with 7.15 children per woman, followed by Somalia with 6.12 children per woman. According to the World Bank, the Democratic Republic of Congo held the third top position with fertility rate of 6.0 per woman in 2018. The increasing number of parturient women across the world are thus likely to create increasing demand for human milk and thus the breast pumps across the globe leading to the growth of the market.
Growing number of human milk banks
A newborn is unable to get sufficient mother’s milk because of reasons such as less lactation, mother’s death immediately after delivery, and hormonal imbalance. As feeding a newborn with mother’s milk is essential for its growth and nutrition, human milk bank is a best-considered solution in any of the conditions as mentioned above. In developed countries, there is a rising number of human milk banks that offer great help to the mother who are not able to produce of milk. Nevertheless, high sterilization and pasteurization are among the important factors to be taken care before providing milk to a baby. For instance, in North America, Human Milk Banking Association of North America (HMBANA) has proposed accredited non-profit milk banks across the US and Canada. It has also introduced international guidelines for pasteurized donor human milk. Similarly, across Europe, there is a rise in the number of human milk banks, and among the European countries, Italy has the highest number of milk banks.
Product Type Insights
The global breast pump market, by product type, was led by electric breast pump. In 2020, the electric breast pump segment held a larger share of the breast pump market and is expected to be a faster-growing segment of the market by 2028 owing to rising demand from hospitals and human milk banks.
Breast pump Market, by Technology
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Organic and inorganic growth strategies were observed in the global breast pump market. The organic strategies that were conducted more compared to the inorganic strategies for the breast pump. For instance, in October 2017, Medela launched its breast milk feeding product portfolio with accessories such as breast milk storage bags, quick clean breast pump, and accessory sanitizer spray at ABC Kids Expo in Las Vegas, Nev.
Breast Pump Market – ByTechnology
Breast Pump Market – By Type
Breast Pump Market – By Distribution Channel
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About the Authorniket gore
Joined: July 6th, 2022
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