The global breast pumps market size is expected to reach USD 3.3 billion by 2026

NEW YORK, April 17, 2019 /PRNewswire/ -- Breast Pumps Market Size, Share & Trends Analysis Report By Product (Open, Closed), By Application (Personal Use, Hospital Grade), By Technology (Manual, Battery Powered, Electric), And Segment Forecasts, 2019 - 2026

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The global breast pumps market size is expected to reach USD 3.3 billion by 2026. It is anticipated to progress at a CAGR of 7.8% over the forecast period. Increase in women employment, various government initiatives aimed at improving consumer awareness, and improving healthcare infrastructure in emerging economies are the key factors driving the growth.

Increasing women employment is expected to be a high-impact rendering driver for the market.Working women have a relatively higher disposable income and lesser time to breastfeed their babies, which is anticipated to boost the product demand.

For instance, as per Eurostat, the women employment rate increased from 65.3% in 2016 to 66.5% in 2017. It becomes difficult for working women to provide proper nutrition to their babies, which has led to an increase in neonatal mortality. In such cases, breast pumps allow mothers to provide proper nutrition to their babies without hampering their professional life.

Furthermore, favorable health insurance plans might surge the product demand.Most health plans require consumers to purchase breast pumps of specific brands.

Thus, manufacturers are entering into collaborations with insurance companies to enhance their market presence and market shares, thereby fueling growth of the breast pump market.

Further key findings from the study suggest:
• Based on product, closed system segment is projected to expand at the fastest CAGR in terms of revenue over the forecast period owing to increased product adoption
• On the basis of technology, electric pumps segment is expected to witness significant growth over the forecast period owing to increasing inclination towards technologically advanced products
• Hospital grade application segment led the market in 2018, attributed to rising awareness regarding the benefit of breastfeeding and increasing product adoption, due to rise in women employment rate
• Asia Pacific is estimated to witness the highest growth, due to constantly improving healthcare infrastructure and growing customer awareness pertaining to the benefits and application of the product
• Some of the key companies present in the breast pumps market are Ameda AG; Bailey Medical; Energizer Holdings, Inc.; Hygeia Medical Group; Medela AG; Koninklijke Philips N.V.; Whittlestone, Inc.; Linco Baby Merchandise Work's Co., Ltd.; Buettner-Frank GmbH; and Lansinoh Laboratories.

Read the full report: https://www.reportlinker.com/p05768018/?utm_source=PRN

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