Femtech Market Outlook 2031
The Global Femtech Market was USD 32.30 Billion in 2022 and is likely to reach USD 148.82 Billion, expanding at CAGR of 18.5% during 2023 – 2031. Rising awareness regarding women’s health is fueling the market.
Femtech, shortly known as women's health technology, is one of the most rapidly growing and well-funded areas of digital health. It is a broad term that refers to a variety of digital health applications and tech-enabled service providers that cater to women's unique biological demands.
These requirements range from basic health and wellness to reproductive health, which includes fertility, pregnancy, and nursing care. The femtech products encompasses mother and child care, family planning, fertility, menstrual cycles, and other biomedical devices and applications dealing with invasive reproductive health.
The technologies are primarily designed to offer digital health solution and includes the use of mobile phone apps or wellness apps for monitoring hormone levels and nutritional status of women especially during pregnancy. Moreover, the technology is widely adopted for various applications such as embryo screening, egg freezing, fertility, and other services.
Femtech Market Trends, Drivers, Restraints, and Opportunities
- Rising demand for novel items and consumables used during pregnancy and nursing for track fertility are key drivers expected to fuel the market growth during the forecast period.
- A direct-to-customer method that minimizes the communication gap between physicians and consumers for diagnosis, prevention, and treatment is a key factor propelling the market.
- Improvements in feminine hygiene products and increase in the use of tampons and menstrual cups in place of sanitary napkins, is expected to further drive the market.
- Women's lack of understanding about femtech goods and their uses is hindering the market in developing economies.
- Advancements in AI and collaborations with public healthcare agencies are key industry propellers, demography, urban-rural segregation, and variable population socioeconomic position are creating opportunities in the market.
- Meeting women's unmet needs through culturally relevant solutions such as wearable gadgets or technology leveraging are increasing reach in low-income countries and harnessing innovation from a rising number of start-ups.
- Women's need for precision healthcare is a crucial trend that has created opportunities in the market.
Scope of Femtech Market Report
The report on the global femtech market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Attributes
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Details
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Report Title
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Femtech Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Devices/Products, Software, Services, and Others), Applications (Reproductive Health, Pregnancy & Nursing Care, Pelvic & Uterine Healthcare, General Healthcare & Wellness, and Others), End-users (Direct-to-consumer, Hospitals, Diagnostic Centers, Fertility Clinics, Surgical Centers, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Sustain Natural; HeraMED; Totohealth; Nuvo; Athena Feminine Technologies; iSono Health; Minerva; Sera Prognostics; BioWink; and Elvie
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Femtech Market Segment Insights
Devices/products segment to dominate the market
In the terms of types, the market is bifurcated into devices/products, software, services, and others. The devices/products segment is expected to domain the market during the forecast period owing to several advancements in women's health product such as fitness trackers, wearables, workout products, and hygiene products. Moreover, rapid innovation in women care devices for better comfort and easy diagnosis are key drivers fueling up the segment growth.
Pregnancy & nursing Care segment dominated the market
Based on applications, the global femtech market is fragmented into reproductive health, pregnancy & nursing care, pelvic & uterine healthcare, general healthcare & wellness, others. The pregnancy & nursing care segment is estimated to expand at a rapid pace in the coming years. Increasing awareness regarding early detection of illnesses is fueling the demand for better diagnostic and screening technologies, assuring timely and effective diagnosis, which in turn is, propelling the general healthcare & wellness segment.
Direct-to-consumer segment to hold key market share
On the basis of end-users, the market can be segregated into direct-to-consumer, hospitals, diagnostic centers, fertility clinics, surgical centers, and others. Uterine fibroids, gynecological infections, urine incontinence, and other gynecological problems affect a majority of women. The direct-to-consumer segment is projected to hold key market share during the targeted period due to wide availability of specialist technologies and experienced healthcare workers women are receiving timely diagnosis at direct-to-consumer. Growth of the segment is further attributed to rising demand for accurate and timely diagnosis.
The emergence of new and innovative fertility tracking apps and pregnancy monitoring solutions for home care situations is expected to fuel the segment.
North America to dominate the global market
In terms of regions, the global femtech market is split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to dominate the global market owing to the existing legislative focus on boosting women's well-being and safety. The market in Asia Pacific, however, is expected to grow at a rapid pace during the forecast period due to rising government initiatives for women healthcare schemes and awareness programs from major economies in the region.
Segments
By Types
- Devices/Products
- Software
- Services
- Others
By Applications
- Reproductive Health
- Pregnancy & Nursing Care
- Pelvic & Uterine Healthcare
- General Healthcare & Wellness
- Others
By End-users
- Direct-to-consumer
- Hospitals
- Diagnostic Centers
- Fertility Clinics
- Surgical Centers
- Others
By Regions
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa
By Key Players
- Sustain Natural
- HeraMED; Totohealth
- Nuvo
- Athena Feminine Technologies
- iSono Health
- Minerva
- Sera Prognostics
- BioWink
- Elvie
Competitive Landscape
Key players in the global femtech market are Sustain Natural; HeraMED; Totohealth; Nuvo; Athena Feminine Technologies; iSono Health; Minerva; Sera Prognostics; BioWink; and Elvie. These players are widely engaged in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.