Albany, NY, May 19, 2016 (GLOBE NEWSWIRE) -- The report states that the global breast pumps market will rise steadily from its 2013 valuation of US$1.1 billion to US$2.6 billion in 2020. This translates to a compounded annual growth rate (CAGR) of 8.8% from 2014 through 2022.
With many mothers reporting back at work during the lactation phase, breast pumps serve to ensure that their infants receive an uninterrupted supply of milk. The use of breast pumps is especially high among women who are averse to using milk substitutes for their infants. According to the findings of the report, many women base their breast pump purchase decision on the recommendation of their gynecologist or lactation consultants.
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There are several types of breast pumps available in the market such as manual, single electric, double electric and hospital grade breast pumps. Pediatrician, lactation consultants and mid wives represent the healthcare professionals who impose a strong influence on the product purchase by the lactating mothers. The breast pumps market has been segmented by the product type into four major categories namely manual, single electric, double electric and hospital grade breast pumps.
This report studies the market for breast pumps by product type. The global breast pumps market has been segmented by product type and market size estimates and forecasts for the period 2012 to 2022 have been provided for each of the segments and sub-segments, in terms of revenue (USD million) and volume (no. of units). The CAGR (%) of each market segment for the forecast period 2014 to 2022 has been provided along with market size estimations, considering 2013 as the base year.
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The global market for breast pumps is analyzed from two perspectives; product type and geography. Manual, single electric, double electric and hospital grade breast pumps are the four major product types. Single electric breast pumps market is the largest market in 2013 owing to the reasonable price and several benefits over the manual pumps. In terms of volume, manual breast pumps constitute the leading market segment owing to its low cost and easy availability. Double electric breast pumps market segment is anticipated to be the fastest growing segment owing to best option available after hospital grade breast pumps. This is attributed to certain features such as easy and efficient milk expression solution for mothers who have to express milk several times a day and on a daily basis. In addition, these pumps are available with adjustable suction cycles; they start with shorter but quicker sucks in order to accelerate the letdown response, followed by longer, deeper and slower sucks.
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Geographically, breast pumps market is studied for four regions: North America, Europe, Asia Pacific and Rest of the World. These regions are further analyzed by country. In terms of Revenue, North America accounted for the largest market share in 2013, owing to increasing breastfeeding rates and increasing awareness about breastfeeding. In terms of volume, North America leads the breast pumps market. Key players operating in the global breast pumps market include Medela AG, Ameda AG, Pigeon Corporation, Royal Philips Electronics NV, NUK USA LLC and Lansinoh Laboratories, Inc.
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