Yahoo Finance Insights on the Wearable Breast Pumps Global Market to 2027 - Featuring Willow Innovations, Medela and Spectra Baby USA Among Others
Dublin, Jan. 24, 2022 (GLOBE NEWSWIRE) -- The "Global Wearable Breast Pumps Market By Technology (Battery Operated, Manual, and Smart), By Component (Wearable Pumps and Accessories), By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global wearable breast pumps market size is expected to reach $705.55 million by 2027, rising at a market growth of 9.6% CAGR during the forecast period.
A breast pump refers to a medical device that helps in pumping out milk from lactating mothers, in the case when they are not available to feed their infants. Several healthcare advisors and doctors recommend extracting milk from lactating mothers who are not feeding it to the babies for the first growth year of infant.
Mother's milk plays an important role in a baby's overall growth since it contains numerous antibodies & nutrients that protect the baby from infections & bacteria and also build a strong immune system as well as contribute to the overall physical growth of the baby. Due to this, mother's milk is highly preferred for newborn babies.
There are many insurance companies across the world that are covering the cost of equipment & services, which is expected to support breastfeeding as well as promote lactation counseling and wearable breast pumps & accessories.
Various governments across the world are taking initiatives to aware people regarding the benefits of breast pumps and breastfeeding that is expected to contribute to market growth. Also, the prevalence of reimbursement policies is also encouraging individuals to adopt wearable breast pumps and hence, surging its demand.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has impacted almost all the segments of the business domain including the wearable breast pumps market. Newborn babies are not at immediate risk of getting infected by the COVID-19 virus through breastfeeding, but several practitioners recommended that the mother and doctors need to take some basic precautions.
The rising utilization of breast pumps due to the increasing precautionary measures is expected to propel the growth of the market. Although, the wearable breast pumps market is estimated to register a moderate reduction in sales owing to the growing number of women working from home that gives them time to breastfeed their infants. Mothers are taking basic precautions before using breast pumps like washing their hands before touching the baby, using a face mask at the time of breastfeeding, and sterilizing the breast pump before its usage.
Market Growth Factors:
The growing population of working women
With the growing population of working women across the world, the demand for wearable breast pumps is increasing in the market. The women's labor force participation rate is 26.5% across the world in 2018 as per the International Labour Organization. This surge in the population of women workforce is contributing to the growing adoption of breast pumps as they have less time to feed their infants. By using wearable breast pumps, mothers can extract their milk and store it for future consumption by their babies.
Increasing birth rate
With the rising birth rate across the world, the adoption of wearable breast pumps is expected to also increase. In addition, the demand for wearable breast pumps is expected to be low in rural areas as compared to urban and suburban areas. It is due to certain factors like literacy level, a high population of working women, and more awareness about the product.
Market Restraining Factor:
High chances of contamination
Almost all breast pumps are reusable, which makes it important for mothers to clean and sterilize them after every use. These pumps contain tubing that requires to get purified to ensure the utmost safety and cleanliness for infants. Various microorganisms and impurities can get accumulated into the breast pumps that can cause health issues among babies. Thus, it is crucial for breast pump users to take all the cleanliness measures.
Technology Outlook
Based on technology, the wearable breast pumps market is divided into battery-operated, manual, and smart wearable. Among these, the battery-powered technology segment acquired the highest revenue share in the market in 2020. This growth is attributed to the factors like high awareness regarding the accessibility of these devices, increasing rate of women employment, and enhancements in healthcare infrastructure across developing nations.
Component Outlook
On the basis of component, the wearable breast pumps market is bifurcated into wearable pumps and accessories. In 2020, the wearable pumps segment dominated the market with the highest revenue share and is anticipated to witness the fastest growth rate during the forecast period. It is due to the growing adoption of advanced products among working mothers and the rising population in the world. A wearable pump refers to a device that makes a gentle vacuum and assists mothers in extracting milk without directly nursing the baby.
Regional Outlook
Region-wise, the wearable breast pumps market is evaluated across North America, Europe, Asia Pacific, and LAMEA. North America emerged as the leading region in the wearable breast pumps market with the highest revenue share in 2020. There are legislation acts like the Fair Labor Standards Act of 1938 and Employment Standards Act, 2000, which stated that working mothers can take a break to pump breast milk for their baby.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Koninklijke Philips N.V., Willow Innovations, Inc., Baby Buddha Products, LLC, Medela AG, Ameda, Inc. (Platinum Products Holding Inc.), Spectra baby USA, Motif Medical, Freemie, and BelleMa Co.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies deployed in Wearable Breast Pumps Market
Chapter 4. Global Wearable Breast Pumps Market by Technology
4.1 Global Battery Operated Market by Region
4.2 Global Manual Market by Region
4.3 Global Smart Market by Region
Chapter 5. Global Wearable Breast Pumps Market by Component
5.1 Global Wearable Pumps Market by Region
5.2 Global Accessories Market by Region
Chapter 6. Global Wearable Breast Pumps Market by Region
Chapter 7. Company Profiles
7.1 Koninklijke Philips N.V.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expense
7.1.5 Recent Strategies and developments:
7.1.5.1 Product Launches and Product Expansions:
7.2 Willow Innovations, Inc.
7.2.1 Company Overview
7.2.2 Recent Strategies and developments:
7.2.2.1 Partnerships, Collaborations and Agreements:
7.2.2.2 Product Launches and Product Expansions:
7.3 Baby Buddha Products, LLC
7.3.1 Company Overview
7.4 Medela AG
7.4.1 Company Overview
7.4.2 Recent Strategies and developments:
7.4.2.1 Product Launches and Product Expansions:
7.5 Ameda, Inc. (Platinum Products Holding Inc.)
7.5.1 Company Overview
7.5.2 Recent Strategies and developments:
7.5.2.1 Product Launches and Product Expansions:
7.6 Spectra Baby USA
7.6.1 Company Overview
7.6.2 Recent Strategies and developments:
7.6.2.1 Product Launches and Product Expansions:
7.7 Motif Medical
7.7.1 Company Overview
7.7.2 Recent Strategies and developments:
7.7.2.1 Product Launches and Product Expansions:
7.8 Freemie
7.8.1 Company Overview
7.9 BelleMa Co.
7.9.1 Company Overview
7.9.2 Recent Strategies and developments:
7.9.2.1 Product Launches and Product Expansions:
For more information about this report visit https://www.researchandmarkets.com/r/v000np
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