FEMTECH INDUSTRY INSIGHTS
The global femtech market size to reach around USD 75.74 billion by 2026, growing at a CAGR of over 13.32% during the forecast period. The healthcare market is entering the era of digital innovation as patients seek on-demand healthcare. It is estimated that 80% of women spend on health products and make 90% of household decisions on health issues. Developers in healthcare have introduced female technology, which is broadly termed femtech. The usage of medical apps is increasing as it creates health awareness, health coaching, and medication management to technology-enabled solutions for accurate screening and diagnosis of chronic diseases; femtech applications covers major areas of healthcare. Healthcare professionals are in the pipeline to create better workflows using artificial intelligence-powered systems. With the wide acceptance of digital transformation in the healthcare market, several femtech companies focus on collecting their health data from medical devices, including wearable technology. As most of the technologies are implemented in femtech products, the rise in demand for these solutions can enhance the market’s growth.
Femtech applications are developed to be smart personal assistants for women and help track vital stats such as maternal health, fertility, menstruation, sexual health, and general wellness. The increasing involvement of women in various sectors is promoting healthcare that can influence the adoption of femtech solutions across the globe. In the recent years, some of the women-established healthcare startups are Thinx, The Food Period, The Female Company, Carrot, Medolac, Maven Clinic, Onna Lifestyle, and many others. Women investing in femtech companies are playing an essential role in promoting the female technology market.
- The APAC femtech market is likely to grow with the highest CAGR of over 15% due to the growing focus on female health issues and emerging startups to increase the adoption of digital health technologies among young women.
- Based on application, the diagnosis segment is likely to witness the highest incremental growth of around USD 15 billion during the forecast year.
- Over the decade, 365 venture capitalist investors have participated in deals with the femtech industry.
- 76% of the US hospitals connect with patients and consulting physicians at a distance with telehealth services which is significantly increasing the usage of femtech services in the US.
FEMTECH INDUSTRY GROWTH FACTORS
- The incorporation of AI-powered healthcare solutions to train algorithms on medical data sets can help women detect early signals of disease and contribute to the growth of the femtech market.
- With the increased demand and growing focus on maternal health, the femtech industry can meet the needs of maternal services and expand in the global healthcare market.
- The market in Brazil is likely to have steady growth, with many startups on the line to establish female-centered products and services for various healthcare concerns.
- The female technology market is expected to experience high growth and intense competition due to increased startups collaborating with technology providers to promote their solutions.
FEMTECH MARKET SEGMENTATION
This research report includes a detailed segmentation by
- Product Type
INSIGHTS BY PRODUCT TYPE
In 2020, the device segment accounted for around 62% of the global femtech market share.
The demand for smart medical devices with more comfort and reduced side effects is gaining traction in female-focused health products. Femtech investors, fitness wearable manufacturers, and health advocates should focus on creating solutions for the entire spectrum of women. Clue offers fertility tracking solutions collaborating with Fitbit’s ionic sports watch to make the first-period tracking app compatible with the Fitbit OS.
With the introduction of the first-ever period tracking app, women's health became a budding domain in the digital health sector. The ability to retain historical data is also one of the most significant benefits of the femtech apps. The social approach will be an essential factor that will boost the use of such new platforms and provide profits for the femtech companies.
INSIGHTS BY INDICATION
Fertility solutions are anticipated to adopt femtech services during the forecast period rapidly.
Femtech assists women through pre-pregnancy, pregnancy to the post-pregnancy stage. Latest technology solutions can help with newborn baby health monitoring and nursing care. Many startups are creating innovative digital technologies incorporated into the femtech products, thereby driving the market's growth. A female-founded startup addressing women's sexual health is Rosy, a digital health solution supporting women experiencing low libido. The global femtech market by maternal health is expected to reach over USD 19 billion by 2026. Many devices, wearables, applications have been developed to monitor body changes in pregnant women and prenatal care. Bloomlife, Luna, Lucina, Obseva, Inpress Technologies, and many others are providing pregnancy-related services.
INSIGHTS BY APPLICATION
Treatment accounted for a share of over 44% in the global femtech market in 2020.
Technological advancements can keep women informed about their health issues and be managed efficiently. Diagnostic and screening services are mostly performed by using medical devices specific for diagnosing female health conditions. Endodiag, a French medical technology company that allows early diagnosis of endometriosis, and iSono Health developed a screening device for breast cancer. Femtech devices gaining significance in this sector include Bellabeat Leaf, which allows women to track, manage, and improve their overall health. CareNX Innovations provides smartphone-integrated care diagnostics making it highly accessible to women in rural areas.
INSIGHTS BY END-USER
The hospital segment has contributed a significant share in the market, majorly due to advancements in ICTs.
Government and NHS authorities are funding the end-users to increase the consumption of femtech products. Among various end-users, hospitals and surgical centers have the highest adoption of femtech products and services, contributing a significant share in the market. The acceptance of personalized diagnostics, smart tools, and evidence-based recommendations are changing the way women's health issues are addressed.
The use of artificial intelligence and data analytics in diagnostics can improve the effectiveness of screening and diagnosis. Most tech companies and investors focused on fertility and maternity management, such as Natalist, which offers DTC products for fertility, pregnancy, and educational information.
INSIGHTS BY GEOGRAPHY
In North America, rising digitalization and personalized healthcare is a significant factor contributing to the growth of the femtech market.
The onset of various women-specific chronic diseases and other health issues are widespread in North America. The utilization of telehealth and mHealth services has drastically increased among women in North America. The market has grown profoundly in the North American region than any other regions across the globe. The application of femtech in the US is supported by many players offering products and services related to female healthcare.
The EU is also funding several telehealth projects and pilot programs to increase its adoption. The UK, Germany, and France are the three countries fueling the growth of the female technology market in Europe. Germany is leading compared to other countries in Europe due to the emergence of major startups that gained high attention in the market.
Femtech is acclaimed as the next big phenomenon in the women’s healthcare market, offering clinical diagnostics, biopharmaceuticals, and medical device companies to utilize the opportunities in the market. The increasing government initiatives and regulatory approvals boost the development of femtech products in the healthcare industry. The increasing fund by several investors is the major opportunities raised for the female healthcare companies.
Some of the leading players in the market include Bloomlife, Bloomer Tech, Clue, Elvie, Fizimed, Glow, Flo Health, Inne, NaturalCycles, Nurx, and many others. Aspivix is a medical device start-up based in Switzerland, committed to developing gentle and modern gynecological solutions that advance women's healthcare.
The femtech market research report includes in-depth coverage of industry analysis with revenue and forecast insights for the following:
- Segmentation by Product Type
- Segmentation by Indication
- Maternal Health
- Sexual Wellness
- Segmentation by Application
- General Wellness
- Segmentation by End-user
- Hospitals & Surgical Centers
- Diagnostic Centers
- Fertility Clinics
- Direct to Consumer
- Segmentation by Geography
- North America
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia