Demand for quality milk for infants is driving the growth in Global Human Milk Bank Market in the forecast period, 2022-2026.
According to TechSci Research report, “Human Milk Bank Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026”, the global human milk bank market has a potential to project an impressive CAGR toward future growth in the period, 2022-2026, on the account of increased promotions of breast feeding through introduction of breast milk. Moreover, increased procurement of breast milk from the nursing mother for the infants is anticipated to drive the growth of the global human milk bank market in the upcoming five years.
Also, increasing number of pre-term births renders infants under extreme observations, and they are unable to feed on their mother’s breast milk. To provide human breast milk in these situations, the demand for the human milk is increasing which is further supporting the growth of the global human milk bank market in the next five years.
Additionally, increasing chances of infection among the premature baby in case they are not provided with the breast milk is further aiding the demand and thus the growth of the global human milk bank market in the future five years. Increasing advancement in the infrastructure and governmental financial aids are also responsible for the growth in the global human milk bank market in forecast years, until 2026.
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The global human milk bank market is segmented on the basis of ownership, end user, competitional landscape, and regional distribution. Based on ownership, the market is further fragmented into hospital-based, non-profit organizations, government, private organizations, and others. Hospital based ownership is anticipated to hold the largest revenue shares of the market and dominate the market in the upcoming five years due to increasing number of hospitals financed human milk banks.
Moreover, the patient dependency over hospitals for their immediate requirements after childbirth drives the growth of the sub-segment as well as the growth of the global human milk bank market in the next five years. Non-governmental organizations also anticipated to register significant growth in the future five years on the ground of demand for decreasing overburdening of patients on hospitals for their human milk needs.
Based on end user, the market is again sub-segmented into premature babies, infants with gastrointestinal disorders, infants with metabolic disorders, and others. Premature babies sub-segment may hold the largest revenue shares of the market in the upcoming five years on the ground of increasing pre-term deliveries.
Influenced by various environmental factor, diseased condition, or accidental factors, pre-term deliveries are increasing and to sustain the life of infant outside mother’s body, under incubation, human milk provides the necessary nutrients for their growth thus supporting the growth of the global human milk bank market in the future five years.
Some of the market players, dominating the global market are:
- Prolacta Bioscience, Inc.
- Milk Matters (Mowbray Maternity Hospital)
- KK Women's and Children's Hospital (KKH) & Temasek Foundation Cares
- PREM Bank (King Edward Memorial Hospital)
- Royal Prince Alfred (RPA) Hospital
- Mothers Milk Bank Pty Ltd
- Mercy Health Breastmilk Bank
- Royal Brisbane and Women's Hospital (RBWH) Milk bank
- Yashoda Human Milk Bank (Dr. D. Y. Patil Medical College, Hospital and Research Centre)
- Dr. Panjabrao Deshmukh Medical College
These market players along with new market entrants, are focused on extensive research and bringing innovative and advanced infrastructure. Technologically advanced pasteurization of the human milk would aid in decreasing the cost of the pasteurization and treatment of the milk and aid the players in managing their investments. Moreover, initiatives from the government and private fundings would support the global human milk bank market growth indirectly.
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“Asia Pacific is anticipated to hold the largest market revenue shares in the upcoming five years on the grounds of largest number of human milk banks in the world. Also, the number of human milk bank is rapidly increasing in the recent past years, and the numbers are expected to multiply in the near future. Increased awareness about the benefits and requirement of the human milks for the infants is further anticipated to support the growth of the global human milk bank market in the next five years.
Emotional and sentimental persuasion to create awareness and motivate nursing mothers with government’s financial aids may support the future growth of the global human milk bank market in the future five years. Countries like India, China, and Australia are the regional leaders of the human milk bank market. Brazil is considered as the global leader in terms of number of human milk banks. Thus, South American region is anticipated to register significant growth in the forecast years with added government funding and favorable schemes promoting human milk,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Human Milk Bank Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Ownership (Hospital-Based, Non-Profit Organizations, Government, Private Organizations, Others), By End User (Premature Babies, Infants with Gastrointestinal Disorders, Infants with Metabolic Disorders, Others), By Region”, has evaluated the future growth potential of global human milk bank and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global human milk bank market.
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