Wearable Breast Pump Market is expected to grow USD 346 million at a CAGR 10.23% during the forecast period 2022-2030.
The wearable breast pump market is projected to be worth USD 346 million by 2030, registering a CAGR of 10.23 % during the forecast period (2022–2030).
The rising consumer awareness regarding healthcare products and developed technology products positively drive the growth of wearable breast pumps. These devices are being widely accepted by consumers globally because of the difficulties faced by lactating mother’s The baby feeding by lactating mother’s have gained the consumption of these devices. The rising problems faced by working women to feed their babies have been a key challenge. These problems faced by womens around the globe has certainely pushed the overall growth for the werable breast pump products.
COVID-19 Impact on the Wearable Breast Pump Market:
The instantaneous spread of COVID-19 has caused considerable disturbance to a wide range of industries across the globe. The outbreak of COVID-19 has created immense pressure across supermarkets & hypermarkets, convenience stores, and retail stores globally. The pandemic has affected the global market and created panic across every industry. The shortage of consumer products has led to panic buying as consumers were stockpiling consumer goods. However, The stockpiling practice has led to a sudden hike in the global food products market value in 2020-2021, which will normalize post the stabilization of this outbreak.
Low production capacity and logistics issues will contribute to this impact. However, the market is anticipated to exhibit a healthy growth rate in the long run due to the shift in consumer buying behavior and the need for technically developed products. Moreover, The worldwide lockdown has undoubtedly affected the production of a wearable breast pumps. The manufacturers face production issues in meeting the increasing market demand as they either shut down production to ease employee concerns or run production understaffed. Procurement of raw materials has also become a cause of concern for the manufacturers owing to COVID-19 impact on logistics. Manufacturers highly dependent on imports from other countries face a massive challenge in this pandemic with no cross-border transactions. This scenario has also affected the manufacturers financially, and they are strategizing their operations to survive the pandemic with minimal losses.
The increased fertility rate has been a significant concern globally. The increased number of live births has supported the increased demand for daily medical equipment. The heightened population has intensified the utilization of wearable breast pumps. The enhanced density of the population has ultimately supported healthcare products. Hence the rising fertility rate has been a key factor in the growth of necessary medical devices.
The constantly fluctuating raw material prices used in manufacturing are a challenge for the manufacturers of wearable breast pump products. Owing to a highly fragmented market, price fluctuations in the raw material used may be observed. The increased dependency on imports for raw materials may also lead to fluctuations in raw material prices. These factors prominently affect the final cost of the products. Hence, the fluctuating raw material prices directly affect the end product pricing.
Globalization has increased the number of working women in developing countries like India, Indonesia, China, and Poland. Nowadays women around the globe are effectively considering working out of their houses. However, working women tend to face more problems compared with men. Owing to these difficulties, women often choose the technically developed devices that can make the routine easier. Thus women are prominently accepting the devices like wearable breast pump as it makes the task more comfortable.
The undeveloped regions and countries worldwide face the problem of being less aware of new technologies and developments. The population living in such areas is not connected with the ongoing trends. Hence creating awareness among rural women can be a challenge, due to the lack of information. Additionally, these rural areas are less familiar with the nutritional benefits required for the babies, hence making women aware in these areas is still found difficult.
By Application Areas
The increasing awareness of medical devices is one of the prominent factors for the growth of the product in the Asia-Pacific region. The increased number of working women results in a higher demand for the product. However, rising consumer inclination towards out-of-home working is anticipated to drive the sales of wearable breast pump products.
The global Wearable Breast Pump market is expected to showcase healthy growth throughout the forecast period. The global market represents strong numbers in terms of consumption and is expected to grow year on year.
Some key players operating in the global wearable breast pump market include Koninklijke Philips N.V., pigeon corporation, Chiaro Corporation, Ardo Medical Ltd, Medela AG, Ameda Inc., Elvie Curve Manual, Momcozy, Willow Innovations, Nature Bond.
Some of the key developments include:
The report segments the Wearable Breast Pump market by operation, weight, and application areas. In terms of insights, this report has focused on various levels of analysis such as market dynamics, value chain analysis, Porter's five forces, competitive landscape, and company profiles—all of which comprise and discuss views on the global Wearable Breast Pump emerging and fast-growing segments, regions, and countries.
Objectives of the Study
|Market Size||2030: USD 346 million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Operation, Weight, and Application Areas|
|Geographies Covered||North America, Europe, Asia-Pacific, Rest of the World|
|Key Vendors||Pigeon Corporation, Chiaro Corporation, Ardo Medical Ltd, Medela AG, Ameda Inc., Elvie Curve Manual, Momcozy, Willow Innovations, Nature Bond.|
|Key Market Opportunities||• Heightened Population With A Soaring Fertility Rate|
|Key Market Drivers||• Rising Choices of Wearable Devices By Employed Women|
The global Wearable Breast Pump market would register a growth of 10.23%.
The healthcare industry will play a prominent role in taking the market forward.
The high cost of the end product may hamper the market.
Asia-Pacific would enjoy the upper hand in the Wearable Breast Pump market.