The rising initiatives by governments and authorities and other major driving factors is expected to favour the rise in the global North America breast pump DME market
Reports and Insights has published a new report titled, “North America Breast Pump DME Market: Opportunity Analysis and Future Assessment 2020-2028”
Global North America Breast Pump DME Market, By DME care (Service, Equipment), By Modality (Handheld, Compact), By Product (Single, Kit), By Grade (Hospital Grade, Home Grade), By Type (Closed System, Open System), By Technology (Electric, Manual), By End User (Hospital, Homecare, Caregiver), and By Country (U.S. and Canada) is expected to grow at a significant CAGR for the period between 2020 and 2028.
In 2020, North America breast pump DME market was valued at US$ 474.2 Mn and expected to grow significantly at a CAGR of 6.8% over the forecast period.
Lately, medical equipment like breast pumps are considered a crucial element of preventive healthcare and most insurance plans are obliged to cover them as benefits to new mothers. In the present day and age, women carry a whole lot of responsibilities and work commitments, where at the same time, they also desire to relish their motherhood. Owing to which, governments and authorities took numerous initiatives regarding making breastfeeding more affordable and accessible to new mothers and providing breast pumps and all the necessary accessories and support as benefits.
Back in 2010, as per the Affordable Care Act (ACA), new health plans must offer particular preventive services without any cost-sharing, involving coverage for breastfeeding support and supplies. After this, there is a constantly increasing number of insurance covering companies in the breast pumps market, which is projected to propel the breast pump DME market in the forthcoming years.
On the other side, state wise policy variation within the insurance groups refran many mothers from obtaining their benefits. Notably, numerous women do not get complete benefits, as in some cases, state wise insurance policy variations fail to conform with the ACA’s breastfeeding coverage requirements, or limit coverage in a manner that compromises the intent of the law. Furthermore, insurance companies inflict administrative barriers and restrictions that hinders women’s capacity to get well-timed breastfeeding benefits. Such factors are estimated to hold back the growth of the global breast pump DME market in the following years.
Reports and Insights Study identifies some of the key participating players in the North America Breast Pump DME market globally are Ameda Inc., Hygeia Medical Group II, Lansinoh Laboratories, Inc., Koninklijke Philips N.V., Medela AG, Motif Medical LLC, NUK USA LLC, Neb Doctors, Linco Baby Merchandise Works Co., Ltd., Aetna Inc., Bright Health, Champva, Cigna, Humana, TRICARE, United Healthcare, Tufts Health Plan Mass (Integra), among others.
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