DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Breast Pumps Market by Technology, Product Type and Application - Global Opportunity Analysis and Industry Forecast, 2014 - 2022" report to their offering.
The global market is projected to reach $829 million by 2022 from $540 million in 2015, growing at a CAGR of 6.6% during 2016-2022.
In terms of value, the battery powered breast pumps segment accounted for over two-thirds share globally, in 2015 and is expected to maintain its dominance during the forecast period. In terms of volume, manual breast pumps segment accounted for one-fourth share in 2015.
The major factors boosting the growth of breast pumps market are increasing working women population, rise in disposable income and growing awareness about importance of breastfeeding. In terms of revenue, closed system breast pumps segment accounted for major share in the world breast pumps market in 2015, and is projected to maintain this trend throughout the forecast period, growing at a faster CAGR of over 6%.
Personal use breast pumps is the leading application segment in terms of volume, at a CAGR greater than 6% during the forecast period. The growing demand for personal grade breast pump is due to factors such as portability, effective pumping techniques and contamination free feeding. The market for battery-powered breast pumps is expected to grow at a significant rate owing to the increasing preference for faster, efficient portable pumping systems with an easy cleaning option.
Breast Pumps Market Key Findings:
- Closed system breast pumps is projected to be the fastest growing segment in terms of both value and volume, growing at a CAGR of over 6.5% and 7% respectively during the analysis period.
- Asia-Pacific is estimated to be the fastest growing regional market in breast pumps market, growing at a CAGR of 9.7%, in terms of value, from 2016 to 2022.
- In 2015, North America accounted for around three-fifths share of the world breast pumps market in terms of value.
- Hospital grade breast pumps would be the highest revenue generating segment followed by personal use breast pump during 2016-2022.
- In 2015, battery powered breast pumps was the leading segment and is projected to grow faster than global breast pump market at CAGR of over 6.4%, in terms of value.
- Mexico is projected 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.
- Medela AG
- Ameda, Inc.
- Koninklijke Philips N.V. (Philips AVENT)
- Hygeia Health
- Bailey Medical Engineering
- Linco Baby Merchandise Works Co. Ltd.
- Whittlestone Inc.
- Energizer Holdings Inc.
- Pigeon Corporation
- Albert Manufacturing USA
For more information about this report visit http://www.researchandmarkets.com/research/5pjc2h/breast_pumps