In accordance with a TMR report, the global breast pump market size was valued at US$ 2.3 Bn in 2018. The breast pump market projections estimate the market to develop at a CAGR of 10.4% during the forecast period, from 2019 to 2027. The global market for breast pumps is anticipated to grow over the forecast period due to the increasing acceptability of breast pumps, particularly amongst working women worldwide.
The existence of supportive governmental policies in the US, such as a provision mandating insurance providers to pay for breastfeeding-related products and services like lactation support groups and breast pumps at a reduced or no cost to the patient. As a result, there is now more demand for these products all across the nation. Manufacturers and retailers in the country are struggling to keep up with their supplies due to high client demand. Despite being designed to be particularly cost-effective for end users, these benefits provided by each health plan could vary due to the absence of clarity in these policies. In the coming years, these aspects are probably going to support breast pump market growth in the years to come.
A doctor’s recommendation is required for certain insurance companies to pay for breast pumps they do not otherwise cover. Most health insurance policies require members to buy specific brands of pumps. This presents an opportunity for manufacturers to collaborate with insurance companies in order to increase their market share and market visibility.
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Key Findings of Market Report
Global Breast Pumps Market: Growth Drivers
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Global Breast Pumps Market: Key Players
Some of the key market players are
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Global Breast Pumps Market: Segmentation
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