Why the global breast pump market is growing
Markets typically tell the story of boom and bust. But a new report from Allied Market Research is changing this narrative (in a roundabout way). Research has shown that the demand for breast pumps around the world is proving to be a boom for busts.
The innocuously named Breast Pumps Market report forecasts that the global market is projected to swell to $829 million by 2022, up from $540 million in 2015, growing at a CAGR of 6.6 percent during 2016-2022.
In terms of valuating this global pump phenomenon, the battery powered breast pumps segment accounted for over two-thirds share across the world in 2015 and is expected to maintain dominance. In terms of volume, manual breast pumps segment accounted for one-fourth share in 2015.
Factors boosting the surge in the breast pumps market include an increasing working female population, a rise in disposable income, and growing awareness of the benefits of breastfeeding.
Closed system breast pumps segment accounted for major share in the world breast pumps market revenues in 2015. This is projected to maintain the trend throughout the forecast period, growing at a CAGR of over 6 percent.
Personal use breast pumps are the leading application segment in terms of volume, at a CAGR greater than 6 percent during the forecast period. The market for battery-powered breast pumps is expected to grow at a significant rate owing to the increasing preference for faster, efficient portable pumping systems with an easy cleaning option.
Breast pumps have come a long way in recent years. Pump makers have developed a range of different functionalities which include bluetooth facilities. Furthermore, closed breast pumps can be reused, without being harmful, thus increasing convenience and safety.
Key findings in the breast pump market include:
- Closed system breast pumps is projected to be the fastest growing segment in terms of both value and volume, growing at a CAGR of over 6.5 percent and 7 percent respectively during the analysis period
- Asia-Pacific is estimated to be the fastest growing regional market in breast pumps market, growing at a CAGR of 9.7 percent, in terms of value, from 2016 to 2022
- In 2015, North America accounted for around three-fifths share of the world breast pumps market in terms of value
- Hospital grade breast pumps would be the highest revenue generating segment followed by personal use breast pump during 2016-2022
- In 2015, battery powered breast pumps was the leading segment and is projected to grow faster than global breast pump market at CAGR of over 6.4 percent, in terms of value
Skin Analytics wins NHSX award for AI skin cancer tool
An artificial intelligence-driven tool that identifies skin cancers has received an award from NHSX, the NHS England and Department of Health and Social Care's initiative to bring technology into the UK's national health system.
NHSX has granted the Artificial Intelligence in Health and Care Award to DERM, an AI solution that can identify 11 types of skin lesion.
Developed by Skin Analytics, DERM analyses images of skin lesions using algorithms. Within primary care, Skin Analytics will be used as an additional tool to help doctors with their decision making.
In secondary care, it enables AI telehealth hubs to support dermatologists with triage, directing patients to the right next step. This will help speed up diagnosis, and patients with benign skin lesions can be identified earlier, redirecting them away from dermatology departments that are at full capacity due to the COVID-19 backlog.
Cancer Research has called the impact of the pandemic on cancer services "devastating", with a 42% drop in the number of people starting cancer treatment after screening.
DERM is already in use at University Hospitals Birmingham and Mid and South Essex Health & Care Partnership, where it has led to a significant reduction in unnecessary referrals to hospital.
Now NHSX have granted it the Phase 4 AI in Health and Care Award, making DERM available to clinicians across the country. Overall this award makes £140 million available over four years to accelerate the use of artificial intelligence technologies which meet the aims of the NHS Long Term Plan.
Dr Lucy Thomas, Consultant Dermatologist at Chelsea & Westminster Hospital, said: “Skin Analytics’ receipt of this award is great news for the NHS and dermatology departments. It will allow us to gather real-world data to demonstrate the benefits of AI on patient pathways and workforce challenges.
"Like many services, dermatology has severe backlogs due to the COVID-19 pandemic. This award couldn't have come at a better time to aid recovery and give us more time with the patients most in need of our help.”