The Global Femtech Market size is expected to reach $10.1 billion by 2028, rising at a market growth of 10.6% CAGR during the forecast period.
Femtech, or women's health technology, is among the most rapidly growing and well-funded areas of digital health. Femtech is a broad term that refers to a variety of digital health applications and tech-enabled service providers that cater to women's biological needs. These requirements range from general well-being through reproductive health, which includes fertility, pregnancy, and nursing care. Maternal and child care, family planning, fertility, and menstrual cycles are among the femtech sectors, but so are other biological devices and applications that deal with invasive reproductive health.
Companies of smart wearable gadgets and advanced mobile application developers are combining their unique product development tactics to better serve women's health demands. Female users can effortlessly track their health and wellbeing, obtain instructional content on a variety of health topics, and take an active role with female communities or healthcare experts using various applications and devices (wearable and non-wearable). Natural Cycles, for example, received FDA approval and authorization in July 2021 to use body temperature data acquired by smart wearables, such as the Oura smart ring, to assess a woman's fertility and manage pregnancy.
Virtual clinics like Tia, an innovative brick-and-mortar clinic like Kindbody, and direct-to-consumer prescription delivery services such as the Pill Club all make it easier for women to get care in a more convenient and consumer-centric way. Allowing for self-care: FemTech solutions such as Bloomlife's trackers and wearables, as well as Modern Fertility's at-home tests, are among some of the FemTech solutions which are helping women take control of their healthcare and health-related data.
The outbreak of the COVID-19 pandemic has impacted every domain of the business world. The imposition of various regulations like partial or complete lockdown, temporary ban on manufacturing units, and restrictions on imports or exports has disrupted the operations of numerous verticals. On the other hand, the digitalization across industries has witnessed a rapid pace, which is further contributing to the demand for numerous advanced solutions and applications like femtech. Pharmaceutical and biotech businesses, in collaboration with governments around the world, are working to combat the COVID-19 outbreak, from vaccine development to pharmaceutical supply chain planning.
COVID-19 has had a major positive impact on the Femtech market as a result of various lifestyle disorders affecting women's health. During the pandemic, women's health concerns grew, including reproductive disease, mental health, and a greater risk of acquiring metabolic syndrome and other chronic diseases as a result of changing lifestyle patterns. Miscarriages, stillbirths, and birth problems are common throughout pregnancy, leading to worry, melancholy, and hormone imbalance.
The increased demand for egg freezing, embryo screening, fertility, and other services has resulted from the breakthrough femtech solutions. In addition, the development of wearable gadgets to track and monitor patient well-being will boost usage in the future years. The availability of such technologically advanced gadgets would compel key market players to introduce innovate solutions and applications in the market, which offers better care for women. Along with that, the growing investment by the governments across nations in the advancements of the healthcare system would boost the demand for these solutions.
Despite all of the advances achieved in the digital world, femtech still confronts numerous hurdles. In comparison to women living in rural & remote locations, women in metropolitan areas tend to have access to the internet and mobile phone coverage. It is far easier to reach educated people who are more open to change than it is to reach the bulk of population who lack access to education and hence are unable to accept the rapid changes that are occurring. New-age, female-oriented digital health enterprises must mobilise efforts to reach out to women in the general population.
Based on Product Type, the market is segmented into Wearables and Mobile Apps. Based on Mobile Apps Type, the market is segmented into Fitness & Nutrition, Menstrual Health, Fertility Management/ Assisted Reproductive Technology Apps, Pregnancy Tracking & Postpartum Care, Menopause, Disease Management, and Others. The wearables segment recorded the highest revenue share in the femtech market in 2021. It is due to the increasing health awareness among women and the rising cases of women’s health condition. In addition, the growth of this segment is being fueled by a shift toward value-based care and a consumer-driven paradigm. Furthermore, as the population focuses more and more on self-health care, wellness, and digitalization, wearable technologies are evolving and serving as a crucial tool. Wearables are projected to grow in popularity due to rapid developments in design. Some of the biggest advancements in wearable technology include cloud synchronisation, predictive analytics, and gamification..
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 4.9 Billion |
| Market size forecast in 2028 | USD 10.1 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 10.6% from 2022 to 2028 |
| Number of Pages | 178 |
| Number of Tables | 289 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Product Type, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America emerged as the leading region in the femtech market with the maximum revenue share in 2021. It is owing to the swift pace of digitalization of healthcare products and solutions across various nations of the region. The expansion of the North American femtech market is predicted to be driven by increasing usage of smart wearable devices and mobile health applications for health tracking, as well as rising health consciousness and awareness and a shift toward preventive care. Furthermore, favourable government initiatives, rising healthcare IT investment, and the advancement of digital health infrastructure are all boosting market expansion.
Free Valuable Insights: Global Femtech Market size to reach USD 10.1 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google LLC, HeraMED Ltd., iSono Health, Inc., Clue by Biowink GmbH, Chiaro Technology Ltd., Natural Cycles USA Corp., Flo Health UK Limited, Glow, Inc., and Withings France SA.
By Product Type
By Geography
The femtech market size is projected to reach USD 10.1 billion by 2028.
Increasing adoption of digital healthcare solutions are driving the market in coming years, however, Dearth of awareness about femtech products & solutions among women living in remote areas growth of the market.
Google LLC, HeraMED Ltd., iSono Health, Inc., Clue by Biowink GmbH, Chiaro Technology Ltd., Natural Cycles USA Corp., Flo Health UK Limited, Glow, Inc., and Withings France SA.
Yes, Due to COVID-19 the digitalization across industries has witnessed a rapid pace, which is further contributing to the demand for numerous advanced solutions and applications like femtech.
The North America market dominated the Global Femtech Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3.9 billion by 2028.
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