Electric Breast Pumps Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Type (Single and Double); Application (Personal Use and Hospital Grade); Distribution Channel (Hospital Pharmacy, Retail Store, E-commerce, and Others); and Region/Country
The global electric breast pumps market is expected to grow at a significant rate of around 8% during the forecast period. Electric breast pumps are used by lactating mothers for extracting milk and storing it for future use. These devices are mostly adopted by working women so their babies can have mothers’ milk while they are still at work. In some cases where the babies are weak, doctors recommend using breast pumps to stimulate the milk supply. Some major key factors such as rising women’s employment rates worldwide, better healthcare systems in developing nations, and government programs to help working mothers are the main reasons propelling market expansion. According to the International Labor Organization (ILO), throughout the past 20 years, there has been clear progress in terms of employment possibilities and gender equality.
It is projected that rising consumer awareness and encouraging governmental actions will fuel demand for breast pumps worldwide. For instance, the World Health Organization (WHO) and the United Nations Children’s Fund (UNICEF) created The Baby Friendly Hospital Initiative (BFHI), which promotes evidence-based practices for breastfeeding success, to increase breastfeeding rates and help families reach their breastfeeding goals. Similarly, the Affordable Care Act now requires that the majority of insurance plans pay for specific breastfeeding assistance and supplies, such as breast pumps. Thus, it is anticipated that these activities will expand the use of these items
Lansinoh Laboratories Inc., Pigeon Corporation, Evenflo Company Inc., Chiaro Technology Ltd., Medela AG, Koninklijke Philips N.V., Magento Inc., Motif Medical, Hygeia Health, Spectra Baby USA are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, double electric breast pumps category to witness robust CAGR during the forecast period”
Based on type, the market is segmented into single and double. Among these, the double electric breast pump category is to witness a higher CAGR during the forecast period. This is mainly due to the high demand for electric breast pumps which is also fueled by an increase in the use of technologically advanced products and increasing global women’s employment rates. As a result, major players in the market are working on new product development and research and development. For instance, Philips Avent launched the double electric breast pump, advanced in 2021 to meet the requirements of nursing mothers.
“Amongst distribution channel, the e-commerce category holds the fastest CAGR in 2020”
On the basis of distribution channel, the market is categorized into hospital pharmacy, retail store, e-commerce, and others. Among these, the e-commerce category holds the fastest CAGR in 2020. This is mainly due to the online networks are rapidly expanding product penetration, allowing end users to compare and select products based on brand, type, price, and point of sale.
Moreover, increasing awareness about breast pumps through social networking platforms. Social media platforms like Instagram, YouTube, and Facebook have turned out to be a hub for mothers for accessing information regarding breast pumps. For instance, “Spectra Baby USA – Pumping Mom Support” is one such group on Facebook with over 18K followers. The other one is “Exclusively Pumping Mamas – Education & Support Group” with 34K+ followers. YouTube has “Mom Com India” to educate about breast pumps. These factors are also contributing to the market growth during the forecast period.
“North America to hold a significant share in the market”
For a better understanding of the market adoption of the electric breast pumps industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a significant CAGR during the forecast period. The major factors driving the market growth include the high market penetration of breast pumps in the United States on account of high women employment rates, high healthcare expenditure, and well-established healthcare infrastructure. For instance, in 2022, as per International Labor Organization (ILO), the current global labor force participation rate for women is under 47%.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|2.1.||Research Process of the Electric Breast Pumps Market|
|2.2.||Research Methodology of the Electric Breast Pumps Market|
|5||IMPACT OF COVID-19 ON THE ELECTRIC BREAST PUMPS MARKET|
|6||ELECTRIC BREAST PUMPS MARKET REVENUE, 2020-2028F|
|10.1.3.||Rest of North America|
|10.2.6.||Rest of Europe|
|10.3.4.||Rest of Asia-Pacific|
|10.4.||Rest of World|
|12||ELECTRIC BREAST PUMPS MARKET OPPORTUNITIES|
|13||ELECTRIC BREAST PUMPS MARKET TRENDS|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|15||VALUE CHAIN ANALYSIS|
|16.1.1.||Porters Fiver Forces Analysis|
|17.1.||Lansinoh Laboratories Inc.|
|17.3.||Evenflo Company Inc.|
|17.4.||Chiaro Technology Ltd.|
|17.6.||Koninklijke Philips N.V.|
|17.10.||Spectra Baby USA|
Research Methodology for the Electric Breast Pumps Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global electric breast pumps market were the three major steps undertaken to create and analyze the adoption of electric breast pumps in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global electric breast pumps market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the electric breast pumps market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the electric breast pumps market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, application, and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the electric breast pumps market. Further, we conducted factor analysis using dependent and independent variables such as various type, application, and distribution channels of electric breast pumps. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the electric breast pumps market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global electric breast pumps market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the electric breast pumps market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global electric breast pumps market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global electric breast pumps market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, application, and distribution channel in the global electric breast pumps market.
The main objective of the Global Electric Breast Pumps Market Study
The current & future market trends of the global electric breast pumps market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the electric breast pumps market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type, application, and distribution channel.
- Define and analysis of the regulatory framework for the all-terrain vehicle
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the electric breast pumps market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the electric breast pumps market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry