Femtech represents technology that is specifically equipped for the requirements of women. It mostly deals with an emerging range of digital solutions, focused explicitly on women’s health. At present, women represent 51% of the global population. The World Economic Forum predicted that by 2020, the spending power of women will be greater than the US GDP, and thus the world is to witness the beginning of female technology (Femtech) market, especially in the healthcare space.
The female technology market mainly includes smartphone interfaces and wearable devices, connected medical female health products and devices, and hygiene solutions. These products, solutions, and technologies are tailor-made to widen access to healthcare for women, globally.
Immense Technological Revolution And Growing Innovation And Awareness Of Medical Devices And Hygiene Products Are Driving The Market
- Huge technological revolutions are yielding instant, complete health data. This is the ideal shift in electronic health records that is helping patients control their health.
- Unmet needs, innovation, and technological advances aimed at women will help vendors gain a large femtech market share.
- Increase in venture financing of the promising femtech companies and femtech startups widen their reach in the healthcare market.
- Emergence of women-owned firms and focus on products developed to address female health issues to boost the femtech market size.
Technological Evolution To Create Tremendous Opportunity In Femtech
- The emergence of women’s health and microbiome, with products focused on increasing general wellness by providing preventive health opportunities, is gaining traction in the women’s health market.
- Rise in products and software solutions for menstruation, fertility tracking, and child wearables are contributing to the femtech market value.
- Tech-enabled solutions for unmet needs and focus on niches outside reproductive health to gain prominence in the female technology (femtech) market. For instance, there is a high prevalence of chronic diseases among women, which is sometimes one to two times higher than that in men.
Widening Female Access To Healthcare And Paradigm Shift Of Healthcare Toward Individual Control To Drive The Femtech Software Segment
Based on product type, the market is segmented into devices and software. Femtech devices hold the major market share but software is anticipated to be the fastest-growing segment. Rise in feminism, increased digitization, and growing awareness of self-health are expected to propel the software segment. Startups with female essential healthcare apps handling problems including sexual wellness, menstrual health, infertility, and birth control are anticipated to further propel the growth of the segment.
Inclination Toward Personalized Medicine For Treatment To Drive The Fertility & Menstruation Care Segment
Based on application, the market is segmented into menstruation care, sexual health, fertility products and solutions, pre & post-pregnancy care, and others. The fertility and pre & post-pregnancy solutions together constitute more than 50% of the femtech market share. Menstruation care solutions are anticipated to be the fastest-growing segment. Expansion of the vertical is being driven by global growth of the personalized medicine industry, and it is expected to witness augmented growth in the future.
Expansion And Innovation In Wearable Devices And Various Apps To Track Crucial Health Data To Drive The Direct-To-Consumer Segment
Based on end-user, the market is segmented into direct-to-consumer, hospitals & surgical centers, fertility clinics, and diagnostic centres. Hospital & surgical centers and fertility clinics together account for more than 60% of the market. The direct-to-consumer segment is anticipated to be the fastest-growing category, with growing awareness and the advent of various fitness, fertility tracker, and ovulation tracking apps. Femtech startups are focusing on complete health-tracking apps, exclusively designed to cater to the main areas of concern for female healthcare.
The femtech industry is centred on access to affordable healthcare, family planning and fertility, maternal and child care, management of chronic diseases, and elderly care. Hence, most femtech applications revolve around key women health issues, such as reproductive and maternal health, general health, and wellness, the latter of which includes mental health, chronic diseases, and communicable diseases.
Increased Venture Investments To Boost Market Growth
Based on geography, the market is segmented into North America, Europe, APAC, Latin America, and the Middle East & Africa. North America holds the highest share of the market. From 2013 to 2018, the market witnessed a YoY growth for venture investments. In 2013, the market witnessed 5 deals that grew to 18 deals in 2018, worth around USD 388 million. The Femtech market accounted for around 4.7% of that year’s total digital health funding. Asia Pacific is anticipated to be the fastest-growing region as it represents a market with huge unmet needs for woman’s health and growing awareness among the population for complete health check ups, availability, and use of various fertility and sanitary products.
The femtech market is highly fragmented with many players, startups, and companies offering products or software solutions in only one specialization. Some of the players in the market include Emjoy, Peanut, Gazella, CoCo, Freda, August, Brarista, Ava, Lactapp, Vitrolife, Apricity, Lattice Medical, Kandy Therapeutics, Gynica, Peppy, Syrona, Grace Health, Clue, Inne, Pexi, Criqle, Super Izzy, Daye, Aspivix, Woom Fertility, Mojo, Elvie, Velmio, Moody Month, Cocoro, Joylux, babymigo, Bloomer tech, Elektra Health, Eli Health, Femcy, Fizimed, Hela Health, Olivia, Wild.AI, Callay, and among others. The market is anticipated to be highly competitive where the vendors are exploring opportunities to diversify the product or acquire new products. Furthermore, the regulatory agencies are supporting digital applications for the treatment of conventional women’s health issues which provides them with opportunity for vendors to strengthen their networks to enhance their market share and presence in the market.
Who Would Be Interested In This Research:
- Digital health Vendors
- AI Technology Vendors
- Pharmaceutical Companies
- Infertility service providers
- Specialty Hospitals
- Healthcare Service Provider
- Healthcare Payers
- Venture Capitalists and Investors
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The femtech market research report will include in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
Segmentation by Product Type
Segmentation by Application
- Menstruation Care
- Sexual Health
- Fertility Tracking and Solutions
- Pregnancy Care
Segmentation by End User
- Hospitals & Surgical Centres
- Fertility Clinics
- Diagnostic Centres
Segmentation by Geography
- North America
- Latin America
- Middle East & Africa
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