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Breast Pump Market to Grow at a CAGR of 10.7% to reach US$ 5,778.97 Million from 2021 to 2028

NEW YORK, UNITED STATES, December 6, 2021 /EINPresswire.com/ -- According to The Insight Partners new market research study titled “Breast Pump Market Forecast to 2028 – Global Analysis by Type, Technology, Distribution Channel, and Geography,” The report highlights the trends prevalent in the global breast pump market and the factors driving the market along with those that act as deterrents to its growth.

Asia Pacific is the fastest-growing geographic market for breast pumps and is expected to be the fastest-revenue contributor during the forecast period. Asia Pacific is recognized as a developing Breast Pump market for human milk banks and childcare. The growth is driven by countries such as China and India.

Strategic Insights:

Report Coverage (Details)
Market Size Value in (US$ 2,574.00 million in 2020)
Market Size Value by (CAGR of 10.7% during 2021–2028)
Growth Rate (US$ 5,778.97 million by 2028)
Forecast Period (2021-2028)
Base Year (2021)
No. of Pages (177)
No. Tables (112)
No. of Charts & Figures (72)
Segments covered (By Technology, Type, and Distribution Channel and Geography)
Regional scope (North America; Europe; Asia Pacific; Latin America; MEA)
Country scope (US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina)
Report coverage (Revenue forecast, company ranking, competitive landscape, growth factors, and trends)

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Increasing birth rates

Soaring birth rates among developing economies are responsible for fueling global baby boom. However, the rising birth rate also contributes to rising birth defects and inability of mothers to breast feed their newborns due to different reasons such mother’s death or mother suffering from severe disease such as hepatitis and AIDS. According to a report published by Bill and Melinda Gates Foundation in 2018, there are almost 250 babies born every minute across the globe. According to the Centers for Disease Control and Prevention, the fertility rates for Hispanic women were highest in 2017 with 67.1 births per 1,000 women.

Asian countries such as India and China also have high fertility rates due to factors such as effects of religion, inadequate supply of family welfare services, poverty, and others. According to the World Bank, the fertility rates in India were reported to be 2.23 births per women as compared with 1.80 in the US and 1.62 in China. Moreover, neighboring countries of India, such as Pakistan, have alarming rates of fertility. In 2016, the birth rate in Pakistan was reported to be 3.48 births per woman, as per the World Bank data. These rates are soaring even more in the African regions that are underdeveloped. Niger tops the fertility rate list in the world with 7.15 children per woman, followed by Somalia with 6.12 children per woman.

Growing number of human milk banks

Milk banks also offer memberships for women who can produce more milk. Milk banks are offering a good cause for improving babies’ health. According to the Global Breastfeeding Score Card, it is stated that in countries such as China, India, Mexico, and others, more than 236,000 child deaths are caused due to inadequate breastfeeding. Therefore, there has been increase in the awareness for the benefits of donating breast milk, and the awareness has demanded the growth in the breast or human milk banks across the world. There are nearly more than 600 human milk banks in the upper and middle-income countries around the world.

A newborn is unable to get sufficient mother’s milk because of reasons such as less lactation, mother’s death immediately after delivery, and hormonal imbalance. As feeding a newborn with mother’s milk is essential for its growth and nutrition, human milk bank is a best-considered solution in any of the conditions as mentioned above. In developed countries, there is a rising number of human milk banks that offer great help to the mother who are not able to produce of milk.

For instance, in North America, Human Milk Banking Association of North America (HMBANA) has proposed accredited non-profit milk banks across the US and Canada. It has also introduced international guidelines for pasteurized donor human milk. Similarly, across Europe, there is a rise in the number of human milk banks, and among the European countries, Italy has the highest number of milk banks.

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.

Download the Latest COVID-19 Analysis on Breast Pump Market Growth Research Report at: https://www.theinsightpartners.com/covid-analysis-sample/TIPHE100000881

The global breast pump market, by product type, was led by electric breast pump. In 2020, the electric breast pump segment held a larger share of the breast pump market and is expected to be a faster-growing segment of the market by 2028 owing to rising demand from hospitals and human milk banks.

Breast Pump Market: Competitive Landscape and Key Developments

Pigeon Corporation; Ardo medical, Inc.; Ameda, Inc.; Koninklijke Philips N.V.; Medela LLC; Evenflo Feeding; Albert Hohlkörper GmbH & Co. KG; Mayborn Group Limited; Hygeia Healthcare; and Spectra Baby USA.

Order a Copy of Breast Pump Market Shares, Strategies and Forecasts 2021-2028 Research Report at: https://www.theinsightpartners.com/buy/TIPHE100000881/

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Sameer Joshi
The Insight Partners
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