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The global breast pump market size is expected to reach USD 5. Improving healthcare infrastructure in emerging economies, increasing global women employment rates, and presence of favorable demographics are the key factors driving the market. The market in the developed economies, such as the U. The emerging Asian and Latin American economies currently have a moderate adoption rate due to lower patient awareness levels.
Economic development in these regions coupled with rising disposable income is anticipated to help the market ensure future sustainability.
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Manufacturers investing in these rapidly-developing markets are expected to record high growth, provided pricing and distribution activities are undertaken effectively. Moreover, rising awareness about the benefits and importance of breastfeeding, rising disposable incomes, availability of the latest devices, and the presence of key companies are boosting the product demand in emerging markets.
The rapid economic growth in these markets indicates higher product adoption. Moreover, supportive initiatives being undertaken by the governments around the world are anticipated to propel the demand for the product. For instance, insurance companies in the U. As a result, the purchase of the product has become easier for the end users, thereby supporting the growth of the market.
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For instance, in May , Medela announced that it would conduct in-house clinical trials to increase the accuracy of the feedback received by the company regarding its device. This is anticipated to increase patient compliance with the device. Breast Pump Market Report Highlights In terms of revenue, the electric pumps segment held the largest share in on account of the high demand for these products across the globe. The closed system product segment held the largest revenue share of the global market in The segment is also expected to witness the fastest CAGR over the forecast period on account of several benefits offered by closed system products over their counterparts.
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The hospital-grade application segment accounted for the maximum revenue share of the overall market in The application segment will expand further at the fastest CAGR from to on account of a rising number of hospitals across the globe. Asia Pacific is expected to be the fastest-growing regional market over the forecast period.
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