Breast Pump Market Trends

Growth Drivers

• Government Initiatives for Awareness About Breast Feeding – Government of various nations are concerned to improve the good growth ratio in infants and children; therefore, many health-related initiatives have been introduced to raise awareness amongst people regarding breast feeding. As per the World Health Organization (WHO), by 2018, approximately 54% of all infants in the South-East Asia region had been fully breastfed up to the age of 6 months, which was up from 47% in 2015 and exceeding the global target of confirming that at least 50% of newborns are breastfed for the first 6 months of life by 2025.
• Globally Improving Healthcare Expenditure – As per the data released by the World Bank, in 2019, the global health expenditure was reached to 9.83%, which was up from 9.7% in 2018.
• Increasing Birth Rate across the World– Worldwide increasing ratio of newborns is also hitting the demand for breast pump. For instance, every year, approximately 140 million babies are born worldwide. That's over than 4 births each second of every day.
• Upsurge in Human Milk Banks – To reduce infant sickness and mortality rate, the trend of human milk bank has gained much popularity across the globe. For instance, in 2020, there were approximately 760 human milk banks in 68 countries.
• Growing Per Capita Income – As per the data provide by the World Bank, in 2021, the worldwide annual per capita income was increased by 4.8% as compared to 1.5% annual per capita income in 2019.

Challenges

• High Cost of Breast Pump
• Risk of Contamination of Milk
• Accessibility of Medicines to Boost Lactation