Increasing demand for technology and digital application in the healthcare sector is expected to drive the Female Technology (Femtech) market in the forecast period 2024-2028.
According to the TechSci Research report, “Female Technology (Femtech) Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028,” the Global Female Technology (Femtech) market is projected to increase at an impressive rate in the forecast period 2024-2028. The US Centers for Disease Control and Prevention (CDC) estimate that approximately 15.6% of women over the age of 18 have health problems. Thus, the increased prevalence of chronic and infectious diseases among the general population supports the Femtech business. Female Technology (Femtech) provides management solutions for period cycle tracking, fertility and ovulation management, menstrual health management, and pregnancy care management solutions. Thus, it helps to monitor women’s health.
The market demand for services like embryo testing, egg freezing, fertility, and other Femtech innovations is rising. Additionally, in the upcoming years, wearable gadget development to track and monitor patients' well-being is expected to increase the use of the Femtech application among individuals. The availability of such cutting-edge technology is anticipated to accelerate market expansion during the forecast period. Further, low awareness among individuals in rural areas is expected to obstruct the growth of global Female Technology (Femtech) market.
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The Global Female Technology (Femtech) market is segmented based on product, application, and end-use. Based on product, the market is categorized into mobile apps, connected devices, services, and others. The mobile apps segment is expected to hold the largest market share in the forecast period, 2024-2028. Further, segments such as connected devices, services, and others are expected to contribute on a significant level to the Female Technology (Femtech) Market.
Based on application, the market is divided into reproductive health, general wellness, pregnancy, nursing care, and pelvic & uterine care. The pregnancy, and nursing care segment is expected to hold the largest market share in the forecast period, 2024-2028. The advancement of technology and the initiation of excellent pregnancy tracker apps is booming the market expansion. These apps assist women round the clock throughout the ninemonths of pregnancy period and beyond through the mobile pregnancy tracker app.
Based on End-use, the market is categorized into Individuals, Fertility Clinics, Hospitals, and Research Institutes, Diagnostic Centers. The individual segment is expected to dominate the growth of the Female Technology (Femtech) market. As these applications are used by consumers in day-to-day life to monitor the menstrual cycle, access pregnancy health and fetal development information, and other.
Major companies operating in the Global Female Technology (Femtech) Market are:
- ALYK, Inc.
- Aytu BioScience, Inc.
- Biowink GmbH
- Flo Health, Inc.
- Glow, Inc.,
- Kasha Inc.
- NaturalCycles USA Corp
- Nordic AB
- Ovia Health
- Plackal Tech
- Sustain Natural
- The Flex Company
- Thinx, Inc
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The largest market share was held by North America. Due to expanding smartphone penetration and demand for smart health solutions, North America has seen a rapid digitalization of healthcare. Estimates from Mobile Economy North America 2021 indicate that there were 296 million mobile internet users in North America in 2020, and that figure will rise to 323 million by 2025. The North American Femtech market is anticipated to expand as a result of rising preventative care, rising health consciousness & awareness, and rising usage of smart wearable devices and mobile health applications for health tracking. The industry is also being driven by rising healthcare IT spending, supportive government initiatives, and developing digital health infrastructure.
On the other side, it is predicted that Asia Pacific is expected to experience the fastest growth over the following years. The growth of the digital infrastructure, the uptake of smartphones and wearable technologies, the expansion of internet access, and rising health consciousness are all factors driving the Asia Pacific Femtech industry. By the end of 2019, there were 2.8 billion unique mobile subscribers in the Asia Pacific, and 3.0 billion are anticipated by the year 2025, according to The Mobile Economy 2020 by GSMA Association. According to predictions, there will be 2.7 billion mobile internet users in the Asia Pacific region by 2025, up from 2 billion in 2019. Government organizations are working to advance mobile health technology by supplying enhanced 3G and 4G networks.
“Female Technology (Femtech) Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product (Mobile Apps, Connected Devices, Services, Others), By Application (Reproductive Health, General Wellness, Pregnancy, and Nursing Care, Pelvic and Uterine Care), By End-use (Individuals, Fertility Clinics, Hospitals, and Research Institutes, Diagnostic Centers), By Region,” has evaluated the future growth potential of Global Female Technology (Femtech) Market and provides statistics & information on market size, structure, and future market growth. the report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Female Technology (Femtech) Market.”
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