Breast Pumps Market to Rise at a CAGR of 10.4% during Forecast Period, notes TMR Study

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Sep 01, 2022, 07:30 ET

As global literacy rates grow, individuals are becoming increasingly interested in adopting breakthrough medical technology into their everyday lives, which is anticipated to fuel demand
More people are becoming aware of the benefits and significance of breastfeeding, which is expected to advance the global breast pump market

WILMINGTON, Del., Sept. 1, 2022 /PRNewswire/ -- In accordance with a TMR report, the global breast pump market size was valued at US$ 2.3 Bn in 2018. The breast pump market projections estimate the market to develop at a CAGR of 10.4% during the forecast period, from 2019 to 2027. The global market for breast pumps is anticipated to grow over the forecast period due to the increasing acceptability of breast pumps, particularly amongst working women worldwide.

The existence of supportive governmental policies in the US, such as a provision mandating insurance providers to pay for breastfeeding-related products and services like lactation support groups and breast pumps at a reduced or no cost to the patient. As a result, there is now more demand for these products all across the nation. Manufacturers and retailers in the country are struggling to keep up with their supplies due to high client demand. Despite being designed to be particularly cost-effective for end users, these benefits provided by each health plan could vary due to the absence of clarity in these policies. In the coming years, these aspects are probably going to support breast pump market growth in the years to come.

A doctor's recommendation is required for certain insurance companies to pay for breast pumps they do not otherwise cover. Most health insurance policies require members to buy specific brands of pumps. This presents an opportunity for manufacturers to collaborate with insurance companies in order to increase their market share and market visibility.

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Key Findings of Market Report

The largest market share was held by the category of electric pumps, which is expected to emerge as one of the important breast pump market trends. These products pump significantly more quickly since they feature a motor and provide a much larger amount of suction. The double pumping equipment needs less time than a typical pump. Although electric pumps tend to be somewhat bulky and loud, manufacturers are constantly using new technology to create lighter, more discrete products.
The market for breast pumps is expected to rise as a result of the numerous challenges women have in producing milk due to their declining health and significance of natural breastfeeding for infants.
Higher employment rates amongst women in recent times and an increase in the number of parents who experience breastfeeding difficulties are expected to fuel the global breast pump market's expansion.

Global Breast Pumps Market: Growth Drivers

Several government programmes aimed at raising consumer knowledge of breastfeeding are probably going to result in a rise in the positive breast pump market outlook in the forthcoming years.
Developing global healthcare facilities as well as technological breakthroughs in breast pumps over the past few years are likely to influence expansion of the global breast pumps market.

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Global Breast Pumps Market: Key Players

Some of the key market players are

Albert Manufacturing USA (Albert Group)
Pigeon Group (Pigeon Corporation)
Mayborn Group Limited
Koninklijke Philips N.V.
Evenflo Feeding, Inc.
Ardo Medical Ag

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Global Breast Pumps Market: Segmentation

Product Type

Single Electric Breast Pump
Double Electric Breast Pump
Manual Breast Pump

Application

Hospital Grade
Personal Use

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