The world breast pump market is projected to garner revenues worth $829 million by 2022, registering a CAGR of 6% over the forecast period. The growth of the market is attributed to the rapid increase in working women population, inadequate maternity leave period and the growing awareness about the benefits and importance of breastfeeding. Other factors such as favourable reimbursement scenario, increasing healthcare expenditure by the government and technological developments in electric breast pumps will also help in the growth of the market. On the other hand, barriers such as high risk of contamination mainly in open system breast pumps, high maintenance of electricity battery pumps and hospital grade pumps, high cost of breast pumps coupled with low awareness, especially in under-developed countries such as Nigeria, Afghanistan and Bhutan are likely to restrain the market growth.
Do Inquiry For Sample Report @ http://www.bigmarketresearch.com/request-sample/144251
The world breast pump market is segmented on the basis of technology, product type, application and geography. On the basis of technology, the market is segmented into manual breast pumps, battery powered breast pumps and electric breast pumps. By product type, the market is segmented into closed system breast pumps and open system breast pumps. Closed system breast pumps are both the highest revenue generating segment as well as the highest growing segment owing to higher benefits such as reduced risk of contamination and a preventive barrier between the pump and the milk collection kit. Based on application, the market is segmented into personal use pumps and healthcare/hospital grade pumps. In terms of geography, the market is segmented into North America, Europe, Asia-Pacific (APAC) and Latin America, Middle East and Africa (LAMEA).
The North America breast pump market will be the leading revenue-generating region whereas Asia-Pacific will be the highest growing region, owing to growing demand for breast pumps. Asia-Pacific breast pump market is set to grow at a promising CAGR of approximately 10% from 2015 to 2022, due to factors such as rising disposable income and highly unmet medical needs.
Companies have adopted product development as their key development strategy in the breast pump market. Increase in focus on product development is mainly for the development of innovative technologies in the field of breast pumps. In February 2014, Pigeon Corporation launched “Electric Breast Pump” and “Electric Breast Pump First Class’’ to help mothers pump and store breast milk which allows them to continue breastfeeding their babies even when they are at work.
Do Inquiry For Discount @ http://www.bigmarketresearch.com/purchase-enquiry/144251
By Technology (Value and Volume)
- Battery Powered Breast Pumps
- Manual Breast Pumps
- Electric Breast Pumps
By Product Type (Value and Volume)
- Closed System Breast Pumps
- Open System Breast Pumps
By Application (Value and Volume)
- Personal Use Pumps
- Healthcare/Hospital Grade Pumps