Breast Pumps: A Global Strategic Business Report
San Jose, California (PRWEB) May 24, 2013
Follow us on LinkedIn – 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.
An important growth driver is the increasing awareness about the benefits of breastfeeding in light of the rising health concerns over the use of infant formula feed. Other factors driving growth include favorable demographics such as older parents with higher discretionary spends and dual income households. Additionally, the restructuring of the reimbursement policies in the US in January 2013 wherein insurance companies are required to cover cost of lactation counseling and breastfeeding devices is further expected to witness increased adoption of these devices.
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.
As stated by the new market research report on Breast Pumps, 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.
Key players covered in the report include Medela, Ameda Breastfeeding Solutions, Philips AVENT, Bailey Medical, Hygeia Medical Group, Lansinoh Laboratories Inc., and Whittlestone Inc., among others.
The research report titled “Breast Pumps: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive analysis of the global breast pumps market including key market trends, recent product launches, strategic corporate initiatives, and profiles of key market participants. The report also provides market estimates and projections in Units for all major geographical markets including the United States, Canada, Europe (France, Germany, United Kingdom, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific and Rest of World. Product segments analyzed include Non-Powered Breast Pumps and Powered Breast Pumps.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Breast_Pumps_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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