It is forecasted that the breast pump market will reach $ 829 million by 2022 (2015: $ 540 million). This corresponds to an annual growth rate of 6.6% in 2016-2022. In terms of value, the segment of battery-powered breastpumps accounted for over two-thirds of global sales in 2015 and is likely to maintain its dominance over the forecast period. The volume of manual breast pumps in 2015 was one quarter.
The main factors driving the growth of the breast pump market are the increase in working women, the increase in disposable income and the growing awareness of the importance of breastfeeding. In terms of sales, the closed milk pump segment accounted for a large share of the global market for milk pumps in 2015 and is expected to maintain this trend throughout the forecast period, growing at a faster CAGR of over 6%.
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Breast pumps for personal use are the volume-leading application segment with a CAGR of more than 6% over the forecast period. The growing demand for personal breast pumps is based on factors such as portability, effective pumping techniques and contamination-free feeding. The market for battery-powered breastpumps is expected to grow significantly due to the increasing preference for faster, more efficient portable pumping systems with a simple cleaning option.
Important findings of the milk pump market:
• Closed System Breast Pumps are expected to be the fastest growing segment in terms of value and volume, achieving a CAGR of over 6.5% and 7%, respectively, over the analysis period.
• The Asia-Pacific region is estimated to be the fastest growing regional pump market for milk pumps, growing from 2016 to 2022 with a CAGR of 9.7% (in terms of value).
• In 2015, North America accounted for around three-fifths of the world market share in milk pumps in terms of value.
• Milk pumps for hospitals would be the top-selling segment, followed by breast pumps for personal use in the period 2016-2022.
• In 2015, battery-driven breast pumps were the leading segment and are predicted to grow in value faster than the global breast pump market with a CAGR of more than 6.4%.
• Mexico is expected to be the fastest growing market in the North American region.
• China and Japan are the leading country markets for breast pumps in the Asia-Pacific region.
Due to the widespread use of milk pumping techniques, North America is the largest regional market in 2015. However, the Asia-Pacific region is expected to grow rapidly as medical needs are largely unmet, disposable income increases and awareness of breastfeeding increases. In value terms, Europe accounted for about one fifth of the total market share in 2015; This is mainly attributed to a large number of women using breast pumps and the annual growth rate is expected to be 5%.
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Businesses have often chosen product development as a key strategy to keep pace with changing consumer demands and strengthen their market position. Major players in this market include Medela AG, Ameda, Inc., Koninklijke Philips NV (Philips AVENT), Hygeia Health, Bailey Medical Engineering, Whittlestone, Energizer Holdings, Inc., Pigeon Corporation and Albert Manufacturing USA.
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