Breast Pump Market Will Maintain Healthy Growth Of 7.7% Up To 2024
OCEAN VIEW, Del., Sept. 14, 2017 /PRNewswire-iReach/ -- The Industry growth report "Breast Pump Market By Product (Open, Closed), By Technology (Manual, Battery Powered, Electric), By Application (Personal Use, Hospital Grade), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Japan, China, Brazil, Mexico, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024" by Global Market Insights, Inc. forecast Breast Pump Market is anticipated to exceed $1.6 billion by 2024.
The global breast pump market is expected to achieve high growth as companies are actively investing in various strategies to create discrete valuable schemes and proposals for varied consumer segments offering innovative and cost-effective treatment for breastfeeding. Today, most of the women have balanced work & life priorities and this will produce a favorable impact on the breast pump industry dynamics. Moreover, exponentially increasing birth rates coupled with rising awareness regarding breast feeding will further propel the breast pump demand, thereby driving the industry trends.
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Rapid economic development along with the rising working female population will generate lucrative avenues for the breast pump business over the coming years. The global breast pump industry is analyzed with different perspectives comprising of product type, technology used, major application base, and geography.
Based on mode of operation and technology the breast pump industry is segmented into four main types namely manual, battery powered, and electric. The battery powered breast pump market is estimated to surpass USD 816 million by 2024. Moreover, electric breast pump market is another lucrative industry to attain a CAGR of 10.6% over the period of 2016-2024. Electric pumps have an advantage of higher efficiency and user-friendly technology which generates a greater demand for this technology. Cost efficiency is another major factor behind the growth in this segment.
Browse key industry insights spread across 84 pages with 48 market data tables & 11 figures & charts from the report, "Breast Pump Market" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/breast-pump-market
Breast pumps witness a wide set of applications in the personal use and hospital grade sector. In this bifurcation, the hospital grade electric pumps are poised to witness favorable industry expansion, owing to its features such as strength, durability, and multiple user ability. The hospital grade pumps are set to witness heavy gains with target market size slated to surpass USD 520 million by 2024.
Geographically, North America breast pump market is projected to exhibit healthy growth over the coming seven years. U.S. breast pump industry, worth USD 405 million in 2015, is projected to grow at an annual rate of 4.9% over the period of 2016-2024. Highly available healthcare amenities along with growing healthcare expenditure is likely to be major factors booming the regional landscape over the coming years.
Asia pacific breast pump industry is anticipated to witness escalating gains over the coming years. The growth is attributed to rising women employment rate, increasing awareness levels, increasing birth rates, and increasing disposable income. Japan, China, and India are expected to be the major regional revenue pockets.
Europe breast pump market, is foreseen to grow significantly, driven by increasing cognizance towards breastfeeding. UK and Germany are expected to drive the regional growth.
LATAM breast pump market is projected to cross USD 14 million by 2024, driven by better healthcare services and introduction of new breast pumps. It is expected that Brazil will contribute considerably towards the regional share.
Breast pump industry is highly concentrated and is dominated by few notable players including Philips, Hygeia Medical Group, Whittlestone, Ameda Breastfeeding Solutions, Medela, Bailey Medical, and Energizer Personal Care.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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