Breast Pump Market Is Projected To Reach USD 5,778.97 Million By 2028 Drive By Electric Breast Pump Segment During Forecast Period, A Recent Study By The Insight Partners

NEW YORK, Sept. 23, 2021 /PRNewswire/ -- According to our new research study on "Breast Pump Market to 2028 – Global Analysis and Forecast – by Type, Technology, and Distribution Channel," the market was valued at US$ 2,574.00 million in 2020 and is projected to reach US$ 5,778.97 million by 2028; it is expected to grow at a CAGR of 10.7% during 2021–2028. The growth of the market is attributed to the high women employment rate and increase in birth rate. However, the working women hinder the growth of the market.

In 2020, North America dominated the global breast pump market. The market growth in the region is driven by the rising demand for breats pump in the US, Canada, and Mexico. The US is estimated to have the largest share in the breast pump market during the forecast period. The market growth in the country is attributed to various growth factors such as rising support for breastfeeding among women, increasing population of working women, and rising laws to support women to breastfeed in public. The breast pump market in Canada is also expected to grow during the forecast period due to the rising number of women and the increasing adoption of a breast pumps. In addition, the country has increased the laws for lactating women to breastfeed babies for the first six months. The breast pump market in Mexico is expected to grow slower due to less breastfeeding at work and in public places. However, the market is expected to have several growth opportunities in the coming years owing to the rising awareness about breastfeeding. The country has also enhanced the laws and legislation to breastfeed babies at the workplace.

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The breast pump market in Asia Pacific is anticipated to grow at the fastest rate during the forecast period. The market growth in the region is attributed to the maximum production of breast pumps, the availability of the product through the widest e-commerce chain, rise in government support, and increased birth rate in Asian countries.

Based on technology, the breast pump market is bifurcated into electric breast pump and manual breast pump. The electric breast pump segment accounted for more than 76% of the market share in 2020. Based on type, the breast pump market is bifurcated into closed system breast pump and open system breast pump. The closed system breast pump segment would account for more than 81% of the market share by 2028. In terms of distribution channel, the breast pump market is bifurcated into consumers stores and online distribution. The consumers stores segment held a larger share of the market in 2020 as consumers stores offer various benefits, such as returning, repaying, and repairing benefits.

Increasing Birth Rate Fuels Breast Pump Market Growth

Growing birth rate contributes to rising birth defects and inability of mothers to breast feed the child due to different reasons, such mother's death or mother suffering from severe diseases, such as hepatitis and AIDS. According to a report published by Bill and Melinda Gates Foundation in 2018, almost 250 babies born every minute across the world. Moreover, according to the Centers for Disease Control and Prevention (CDC), the fertility rates for Hispanic women was highest in 2017 among Hispanic women with 67.1 births per 1,000 women.

Asian countries such as India and China also have high fertility rates due to many factors such as religion effects, inadequate family welfare services supply, and poverty. According to the World Bank, the fertility rates in India were reported to be 2.23 births per women as compared to 1.80 in the US and 1.62 in China. Moreover, neighboring countries of India, such as Pakistan, has alarming rates of fertility. In 2016, the birth rate in Pakistan was 3.48 births per woman as per the World Bank data.

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Breast Pump Market: Segmental Overview

In terms of technology, the electric breast pump segment is anticipated to register a higher CAGR during the forecast period. These pumps are powered by an electric motor. The electric breast pump has powerful suction. A few breast pumps come with double pumping feature that makes the breast-feeding job easier for lactating mothers. Electric pumps are mostly used in maternity hospitals and pediatric & neonatal clinics. The market for this segment is expected to grow in the coming years owing to the rising adoption of technologically advanced products.

In terms of type, the closed system breast pump segment would account for more than 81% share of the global breast pump market by 2028. In terms of distribution channel, the market for the online distribution segment is anticipated to grow at a higher pace during the forecast period.

The COVID-19 outbreak has disturbed various trades and businesses across the world. North Americ is highly affected due to the outbreak. The US and Canada reported the most significant numbers of COVID-19 positive cases. The US registered the highest number of deaths due to the COVID-19. As chaotic situation was created in the medical industry across the countries, the demand for COVID-19 diagnostics and therapeutics increased dramatically in the hospitals. In the US, due to an increasing number of infected patients, healthcare professionals and leading organizations distract the flow of healthcare resources from research & development to primary care, which slowed down the process of innovation.

Breast Pump Market: Competition Landscape and Key Developments

• Pigeon Corporation
• Ardo medical, Inc.
• Ameda, Inc.
• Koninklijke Philips N.V.
• Medela LLC
• Evenflo Feeding
• Albert Hohlkörper GmbH & Co. KG
• Mayborn Group Limited
• Hygeia Healthcare
• Spectra Baby USA

are among the key companies operating in the breast pump market. These players are focusing on the expansion and diversification of their market presence and the acquisition of a new customer base, thereby tapping prevailing business opportunities.

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In March 2021, Philips Avent launched Philips Avent Double Electric Breast Pump, Advanced. This breast pump is featured with innovative Natural Motion Technology and a compact, portable design. The new breast pump was created to meet the demands of the modern mother who is balancing a busy lifestyle while breastfeeding.

In March 2021, Ardo medical, Inc. and VGM Group entered into a collaboration in the area of breast pumps and breastfeeding support products. Ardo will offer VGM its new product lines for breastfeeding mothers.

In October 2020, Medela and Aeroflow Breastpumps entered into partnership. This partnership is aimed at promoting the new breast pump named as In Style with MaxFlow breast pump. Both the companies in partnership arranged national contest of pumping room makeover and five winners received US$1,000 for creating their dream pumping space within their home and the new Pump in Style with MaxFlow breast pump.

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About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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More Research: https://www.openpr.com/news/archive/139407/The-Insight-Partners.html

SOURCE The Insight Partners

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