With a few larger companies holding the largest stake, the global
breast pumps market exhibits an oligopolistic vendor landscape. Among
the most prominent players, companies such as Philips, Medela, and
Ameda Breastfeeding Solutions are currently enjoying a stronghold,
finds Transparency Market Research (TMR) in a new study. Because of
its medical importance, a majority of consumers prefer investing in
products by prominent brands. However, there is a considerable number
of local players supplying breast pumps via indigenous network of
distributors. Hence, they are able to make very little contribution
toward the global breast pumps market. According to TMR, Medela LLC
emerged dominant in the overall market in 2016. Besides this, some of
the other notable market players include Pigeon Group (Pigeon
Corporation), Evenflo Feeding, Inc., Spectra Baby USA, Mayborn Group
Limited, and Hygeia Health.
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According to TMR, the global breast pumps market is expected to reach
US$4,164.6 mn by the end of 2025, from US$1,971.8 mn in 2016.
Considering these market figures hold true, the global breast pumps
market will report a positive 8.9% CAGR between 2017 and 2025.
Regionally, North America held the leading market share in 2016.
However, over the course of the report’s forecast period, the Asia
Pacific market is likely to exhibit a higher CAGR of 9.4%.
Various factors are supporting the expansion of the global breast
pumps market. For instance, the rising rate of women employment,
coupled with supportive government initiatives, has proved a boon for
the market. These initiatives not only helped improving the overall
healthcare infrastructure but also got robust schemes for spreading
awareness on track. The cumulative effect of these factors are
reflected positively on the global breast pumps market, augmenting
overall sales witnessed over the last few years.
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Besides these, factors such as the escalating birth rate, especially
among emerging nations provide lucrative opportunities to the market.
The United Nations has estimated by the end of 2050 the likelihood of
the global population to reach 9.7 billion. Having said that, the
growth in population is also indicative of attractive prospects
awaiting the market players in the near future. Alongside rising
women employment worldwide, the rising disposable income of consumers
will have a positive impact on the market as well. To capitalize on
prevailing opportunities across emerging nations, several companies
are looking to invest therein. This will definitely give the breast
pumps market in emerging nations a significant impetus.
In the last few years, both public and private sector players have
conducted various campaigns to spread awareness regarding the
benefits of breastfeeding, in turn creating a sizeable consumer base
for breast pumps in developing nations. In addition, the recent
technological advancements have further helped the market gain pace.
On the downside, side effects related to using breast pumps and the
high price at which hospital grade breast pumps are available are
restraining the market to an extent. Nonetheless, the increasing
demand from emerging nations such as China will enable the market
sustain its positive growth trend through the forecast period.
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