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Breast Pump Market Is Expected To Reach USD 4.57 Billion By 2027 At A CAGR Of 10.5 percent.

Maximize Market Research has published a report on the Breast Pump Market that provides a detailed analysis for the forecast period of 2022 to 2027.

The report provides comprehensive market insights for industry stakeholders, including an explanation of complicated market data in simple language, the industry’s history and present situation, as well as expected market size and trends. The research investigates all industry categories, with an emphasis on key companies such as market leaders, followers, and new entrants. The paper includes a full PESTLE analysis for each country. A thorough picture of the competitive landscape of major competitors in the Breast Pump market by goods and services, revenue, financial situation, portfolio, growth plans, and geographical presence makes the study an investor’s guide.

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Rising consumer awareness and supportive governmental initiatives will fuel the market for breastfeeding accessories. Similarly, during the COVID-19 epidemic, the CDC, WHO, and the Academy of Breastfeeding Medicine (ABM) encourage the use of breast pumps to provide babies with extracted breast milk, has made a positive impact on the market. Lactating ladies who want to remove their milk from their breasts utilise breast pumps. Breast milk includes vital antibodies that help babies build a healthy immune system and reduce their risk of illness, therefore feeding infant’s breast milk has several benefits. Breast pumps assist working mothers increase their supply of milk and store it for the baby.

According to World Employment, the global labour force participation rate for women in 2018 was roughly 49.2%, which was 25.5 percent lower than the employment rate for men. The global unemployment rate for women is 0.9 % greater than for males. Additionally, a lot of working mothers use breast pumps to feed their infants while they are away for work and to pump milk. Milk expressing is made simpler and more efficient with breast pumps. The aforementioned elements will likely cause the market to grow throughout the forecast period.

One of the main challenges restricting this industry is the cost of breast pumps. Users are reluctant to purchase breast pumps because of their high price, particularly in poor and underdeveloped nations. The growth of the breast pump market industry is also anticipated to be hampered by the potential of contamination with foreign chemicals.

New breast pumps are being introduced to the market by numerous firms. For instance, Medela AG announced the release of Solo in January 2022. Solo is a single electric breast pump that is small and simple to use. Thus, the market is anticipated to have significant growth during the post-pandemic period as a result of an increase in product releases, the introduction of COVID-19 vaccinations, and an increase in birth rates.

Breast Pump Market Regional Insights:

The market was dominated by North America in 2021, and during the forecast period, it is anticipated to develop at a significant pace of 7.5 percent. Because of the high rates of female employment, high healthcare spending, sophisticated healthcare infrastructure, and high patient awareness levels in this region, North America dominated the global market in terms of revenue share. This is primarily due to the increased market penetration of breast pumps in this region. Leading companies in the market are also creating technologically advanced breast pumps, which will drive the market overall throughout the projection period.

Numerous awareness-raising activities are driving the market for breast pumps in the Asia-Pacific region. The market for breast pumps in Asia-Pacific was worth USD 343 million in 2021. At a CAGR of 10%, it is expected to reach USD 819 million by 2030. The market for breast pumps in China is anticipated to grow significantly over the assessment period. The market’s growth can be attributed to favourable maternity leave laws, a large population, and nursing programmes that improve user education.

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Breast Pump Market Key Competitors:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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