The Latin America, Middle East and Africa Femtech Market would witness market growth of 13.0% CAGR during the forecast period (2022-2028).
FemTech is a relatively new industry. Its popularity, however, is increasing. The increased awareness of the severity of chronic and infectious diseases among women around the world has boosted its demand. FemTech can help those suffering from medical disorders get detected and treated sooner by enabling women know their own bodies and contribute to broader scientific knowledge. Endometriosis, for example, can take up to ten years to detect. However, if a woman has been monitoring her period symptoms with a FemTech app, it may be able to alert her that her periods are odd and that the women should consult a doctor. From here, the symptoms of the encounter can be more accurately described, and a diagnosis and therapy can be offered more rapidly.
Governments across this region are increasingly investing in the digitalization of healthcare sector. The increasing cases of women health issues along with the high penetration of smartphones and internet would escalate the demand for femtech solutions. The UAE government wants to enhance health-care funding so that more data monitoring tools can be used for proactive COVID contact tracing and virtual medical service providers can be licenced. The government also intends to strengthen national capacities to combat future pandemics, including vaccine and pharmaceutical development, digital immunisation IDs, and a new supply chain strategy. The Ministry of Health wants to grow the industry by focusing on health information technology, such as telemedicine and digital medicine.
In the future years, the UAE's Healthcare Information Technology industry is predicted to rise rapidly. The pandemic is continuing to provide doors for the telehealth/medicine sector to grow, with remote healthcare services delivered via technological platforms.
The Brazil market dominated the LAMEA Femtech Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $155.3 Million by 2028. The Argentina market is estimated to grow at a CAGR of 13.6% during (2022 - 2028). Additionally, The UAE market would witness a CAGR of 12.7% during (2022 - 2028).
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. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Femtech Market is Predict to reach $10.1 Billion by 2028, at a CAGR of 10.6%
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.
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