USD 1.84 billion
Report ID:
SQMIG35A2643 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
88
|Figures:
76
Breast Pump Market size was valued at USD 1.84 billion in 2019 and is poised to grow from USD 1.99 billion in 2023 to USD 4.08 billion by 2031, growing at a CAGR of 8.3% in the forecast period (2024-2031).
Rising global female employment rates, improved healthcare infrastructure in emerging economies, and government initiatives to support working mothers are key drivers of market growth. Over the last 20 years, there has been visible progress in employment opportunities and gender equality, according to the International Labour Organization (ILO). The International Labour Organization (ILO) launched the 2030 United Nations Agenda, which states that the genders of youth and the disabled population are likely to receive equal pay without discrimination in order to achieve gender equality and empower all women and girls in order to achieve productive employment, gender equality, and economic development.
Growing consumer awareness and government support are expected to drive global demand for breast pumps. For instance, the United Nations Children's Fund (UNICEF) and the World Health Organization (WHO) established the Baby Friendly Hospital Initiative (BFHI), which promotes evidence-based practises for breastfeeding success, to increase breastfeeding rates and assist families in achieving their breastfeeding goals. As part of the Affordable Care Act, most insurance plans must now cover specific breastfeeding assistance and supplies, such as breast pumps. As a result, such initiatives are expected to increase product usage. As a result, end-users find it easier to purchase these products, resulting in increased demand for breast pumps.
US Breast Pump Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.84 billion
Largest Segment
Personal Use
Fastest Growth
Personal Use
Growth Rate
8.3% CAGR
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The global breast pump market is segmented based on the product type, technology, application and region. Based on the product type, it is segmented into open system breast pump, and closed system breast pump. Based on the technology, it is segmented into electric breast pumps (single electric breast pump, double electric breast pump), and manual breast pump. Based on application, it is segmented into hospital, and personal. Based on region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Breast Pump Market Analysis by Product Type
The global breast pump market is segmented based on product type into open system breast pump, and closed system breast pump. The closed system segment held the largest market share in 2021 and is expected to grow at the fastest rate during the forecast period. The increased usage is primarily due to the fact that these systems are more hygienic and contamination-free. Closed breast pumps are rapidly replacing open systems, and their revenue share is expected to grow by 2028. Closed system breast pumps have a lid or a layer that acts as a barrier between a collection kit and the pumping unit or motor, preventing milk contamination. This protective layer also keeps milk particles out of the pump tubing and motor. These devices ensure maximum removal of impurities, easy to clean, and provide better safety for the child's health.
Breast Pump Market Analysis by Application
The global breast pump market is segmented based on application into hospital, and personal. The hospital segment had the largest market share in 2021 and is expected to grow at the fastest rate during the forecast period. Hospital breast pumps are typically used in hospitals and have powerful motors, but they can also be rented on a monthly basis for personal use. These breast pumps have a "closed system," which means that barriers prevent milk and other fluids from entering the motor. This reduces contamination and ensures their safety for multiple users. These breast pumps have several advantages, including being more powerful and effective than many personal-use pumps. They are useful for mothers who have medical conditions that require the use of a high-powered pump or whose babies have difficulty latching and nursing. As a result of the aforementioned benefits provided by hospital-grade pumps, the segment is expected to grow significantly during the forecast period.
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The global breast pump market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America dominated the market in 2021 and is expected to grow at an 8.0% annual rate during the forecast period. North America dominated the overall market in terms of revenue share, owing primarily to the presence of high women employment rates, healthcare expenditure, sophisticated healthcare infrastructure, and patient awareness levels in this region. Furthermore, industry leaders are developing technologically advanced breast pumps, which will fuel the overall market over the forecast period.
Europe will hold more than 23% of the revenue share in 2021, owing to rising birth rates and rising female employment in the region. Working mothers face difficulties in managing and providing nutrition to their babies, which may increase neonatal mortality if not properly catered for. Breast pumps make it easier for working mothers to properly feed their babies. Furthermore, rising awareness of the benefits of breastfeeding among target consumers, i.e., lactating mothers, is expected to create growth opportunities for the Europe breast pump market in the coming years. High disposable income and technological advancements are also important driving factors for the regional market.
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Breast Pump Market Driver
Breast Pump Market Restraints
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The global breast pump market is moderately fragmented and competitive, with both domestic and international players. With the growing popularity of breast pumps, global players such as Philips are developing these products, and it is expected that a number of well-known and larger companies will enter the market in the future. For business expansion, these industry leaders are implementing strategic formulations such as new product development and commercialization, commercial expansion, and distribution agreements. Furthermore, these participants are heavily investing in product development, which is driving revenue generation.
Breast Pump Market Top Players Company Profiles
Breast Pump Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global breast pump market analysis, the breast pumps market is expanding due to a number of factors including an increase in the number of employed mothers worldwide, technological advancements in product offerings, changes in consumer lifestyle, and increased awareness for breast pumps. As a result, all of these factors are contributing to the growth of the breast pump market during the forecast period. The high market penetration of breast pumps in the United States due to high women employment rates, high healthcare expenditure, and well-established healthcare infrastructure are the major factors driving market growth.
One of the primary drivers of the breast pump market is the increase in the number of employed mothers. Breast pumps allow an employed mother to extract and store milk for healthy/weak premature babies or when they are in neonatal Intensive Care Units (ICU) due to long-term illnesses. As a result, the potential benefits and portable nature of these breast pumps increase their usability, which can increase the demand for breast pumps, propelling the growth of the breast pumps market during the forecast period.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 1.84 billion |
Market size value in 2031 | USD 4.08 billion |
Growth Rate | 8.3% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Historical Year | 2019 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Breast Pump Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Breast Pump Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Breast Pump Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Breast Pump Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Breast Pump Market size was valued at USD 1.84 billion in 2019 and is poised to grow from USD 1.99 billion in 2023 to USD 4.08 billion by 2031, growing at a CAGR of 8.3% in the forecast period (2024-2031).
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Report ID: SQMIG35A2643
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