Future Market Insights (FMI) delivers key insights on the global breast pumps market in its upcoming report titled, “Breast Pumps Market: Global Industry Analysis and Opportunity Assessment 2016–2026.” In terms of value, the global breast pumps market is projected to register a healthy CAGR of 5% during the forecast period due to various factors, regarding which FMI offers vital insights in detail in this report. Expanding woman workforce and popularity of human milk banks are factors expected to bolster overall growth of the global breast pumps market.
Global breast pumps market is segmented on the basis of product type, technology type, application type and region. On the basis of product type, the market has been segmented into closed system breast pumps and open system breast pumps. Among the product type segments, open system breast pumps segment is expected to account for highest market share and is expected to expand at the CAGR of 4.8% between 2016 and 2026. On the basis of technology type, the market is segmented into electric breast pumps and manual breast pump. Electric breast pumps comprise two sub-segments namely, single electric breast pumps and double electric breast pumps. On the basis of application type, the market is segmented into personal and hospital. Among the application type segments, personal application segment is expected to account for highest market share at a highest CAGR of 5.2% between 2016 and 2026.On the basis of region, the market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Middle East & Africa and Japan.
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Increasing demand for double electric breast pumps, especially in North America and European regions, and its various advantages over manual breast pumps, including faster expressing of milk, more comfortable and easy to use by offering multiple settings and features, globally is prompting manufacturers to launch more double electric breast pumps to cater to the growing needs in this regard. Also, companies have been focusing on introducing improved, more efficient, lightweight and portable breast pumps, targeting the consumer segment, which is anticipated to propel increase in market share globally by 2026. Currently, majority of these products are used by consumers in North America and Europe which in turn, is driving growth of the breast pumps market globally.
This report covers trends driving growth of each segment and offers analysis and insights on the potential of the breast pumps market in all regions. Globally, in terms of revenue, North America accounted for the largest market share of 34.9% in 2015, followed by Western Europe. However, revenue from the market in Asia Pacific excluding Japan is expected to expand at the highest CAGR of 7.1% over the forecast period. Besides, Western Europe is expected to remain the second-largest market by 2026, closely followed by the Asia Pacific Excluding Japan market. Major companies in the breast pumps market such as Koninklijke Philips N.V., Medela Inc., and Ameda Inc are investing substantially to expand their production facilities and promote products related to breast pumps, in order to leverage opportunities in the aforementioned high growth markets.
In 2014, the Latin America breast pumps market was valued at US$ 76 Mn, reflecting a Y-o-Y growth rate of 6.4%.The Eastern Europe breast pumps market is expected to expand at a CAGR of 4.5% during the forecast period. In terms of revenue, the Russia market accounted for largest market share in the Eastern Europe region in 2014, and is expected to continue to remain dominant in the coming years, expanding at a CAGR of 4.6% during the forecast period.
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Key players in the global breast pumps market include Koninklijke Philips N.V, Pigeon Corporation, Jarden Corporation, Goodbaby International Holdings Ltd., Medela Inc., Ameda Inc., Hygeia Medical Group II, Bailey Medical, Handi-Craft Company, Mayborn Group Limited and Linco Baby Merchandise Works Co., Ltd.