2014-02-21 08:37:02 - Breast Pumps: A Global Strategic Business Report - a new market research report on companiesandmarkets.com
The global Breast Pumps market is projected to reach 7.3 million units by 2018, driven by increasing number of young nursing mothers in the workforce and the desire to breastfeed babies for a longer time for their better health and development of the immune system.
Globally, there is rising awareness about the benefits of breast feeding babies with organizations such as World Health Organization (WHO) and American Academy of Pediatrics recommending exclusive breast feeding for infants for the first six months. Breast fed babies have been studied to carry their mother´s passive immunity for longer periods of time making them healthy and resistant to diseases. The market for breast pumps is therefore chiefly driven by the growing preference among working
women to continue breast feeding their babies. Over time, technology and design of breast pumps have undergone major changes with breast pumps today capable of fulfilling various requirements of nursing mothers.
Saturated growth in the developed markets of North America and Western Europe due to the uncertain business climate coupled with falling birth rates will be offset by the developing markets of Asia-Pacific, Latin America, Middle East and Africa. These emerging markets will continue to remain bright spots for growth in the next few years with nearly 80% of annual births worldwide coming from these regions. Other strong market fundamentals that underpin the emerging markets potential include improving economic conditions, increase in the number of working women, fast-paced consumer lifestyles, growing awareness and availability of user-friendly, powered breast pumps and the inherent preference for breast milk as the best and safest source of nutrition for babies.
The United States represents the largest market worldwide, followed by Europe. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 9.0% over the analysis period. Rise in the purchasing power, growth of middle class population and increasing adoption of breast pumps in the world´s two most populous countries of China and India represent key growth drivers in the region. In the developed markets of the US and Europe, growth is inextricably linked to the birth rate. Declining birthrates and the number of women in the childbearing age coupled with high penetration have stabilized growth in these mature markets. Global Industry Analysts Â©
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