Global Breast Pumps Market to Exceed $1.21 Billion by 2027

According to Coherent Market Insights, the global breast pumps market was estimated to be valued at $884.9 million in 2020 and is expected to exhibit a CAGR (compound annual growth rate) of 4.6 percent during the forecast period (2020-2027).
 
Key trends in the market include increasing research and development activities, product launches, inorganic activities such as collaborations, and others.
 
Key players are involved in launching modified breast pumps, which is expected to increase the growth of the market over the forecast period. For instance, on Oct. 7, 2020, Elvie launched Elvie Curve, which is a wearable silicone breast pump that allows for gentle, handsfree expression when feeding or pumping from the other breast or to express full breasts. It is a softer, handsfree breast pump that uses suction pressure to extract milk.
 
Market players are engaged in raising funding for conducting research and development activities, which is also expected to boost the growth of the market over the forecast period. On Sept. 25, 2020, Willow raised $55 million in a series C funding round for its smart breast pump innovation; investors were NEA, Meritech Capital Partners, and Lightstone Ventures, as well as new lenders including Perceptive Advisors.
 
Key players are indulged in inorganic activities such as collaborations in order to launch modified breast pumps in the market. This is expected to drive growth of the global breast pumps market over the forecast period. For instance, on Sept. 15, 2020, Medela and renowned fashion designer and breastfeeding advocate Rebecca Minkoff collaborated to launch limited-edition breast pump as part of their breastfeeding campaign. Breast pump tote is an essential item for mothers today, who often pump outside the home and need a simple and efficient way to carry their pump and accessories.
 
Increasing product launches by the market players is expected to drive the growth of the global breast pumps market over the forecast period. In December 2020, Koninklijke Philips N.V. launched its new single electric breast pump and added this product to its Philips Avent product category. The novel Philips Avent single electric breast pump has various features such as rechargeable batteries and the device resets the last settings of customers used for extraction of milk, which provides ease and convenience during extraction of milk.
 
Among regions, North America is expected to hold a dominant position in the global breast pumps market over the forecast period, owing to increasing launches of breast pumps in this region. On Nov. 17, 2020, Spectra Baby USA, creators of Natural Nursing Technology, launched a new line of innovative product including the Synergy Gold dual-powered electric breast pump, Simple Store feeding solution, and CaraCups wearable milk collection inserts.
 
Key players operating in the global breast pumps market include Medela AG, Philips Avent, Lansinoh Laboratories Inc., Hygeia Medical Group, Ameda Breastfeeding Solutions, Spectra Baby USA, ARDO MEDICAL AG., Roscoe Medical, Linco Baby Merchandise Work’s Co. Ltd., Universal Corporation Ltd., Willow, CA-MI, La Diffusion Technique Franchise, Freemie, BelleMa, Microlife Corporation, Chiaro Technology Ltd., Elvie, Baby Buddha Product LLC, Motif Medical, and Haakaa.