New York, Oct. 14, 2022 (GLOBE NEWSWIRE) -- According to The Insight Partners latest market study on "Femtech Market Size, Share, Trends and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, and End User," the global femtech market size is expected to grow from USD 12.65 billion in 2022 to USD 22.29 billion by 2028, with an estimated CAGR of 9.9% from 2022 to 2028.
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Global Femtech Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 12.65 Billion in 2022 |
| Market Size Value by | USD 22.29 Billion by 2028 |
| Growth rate | CAGR of 9.9% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 150 |
| Historical data available | Yes |
| Segments covered | Type, Application, and End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global Femtech Market: Competitive Landscape
The Femtech market report summarizes detailed information by top players such as Athena Feminine Technologies, Inc., NUVO Inc., Sera Prognostics, Inc., HeraMED, iSono Health, Inc., Babyscripts, Chiaro Technology Ltd and Elvie, Lattice Medical, Thinx, Inc., and Minerva Surgical, Inc. Several other major companies were studied and analyzed during this research study to get a holistic view of the Femtech market and its ecosystem.
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Global FemTech Market - Key Development Trends
- In 2020, HeraMED announced a partnership with eCare21, a leading virtual care platform, to integrate its heartCARE & heartBEAT products with the eCare21 platform. This has enhanced the product portfolio and development capabilities of the firm.
- In 2020, according to McKinsey Insights, around 45 to 50 new women's health start-ups were founded, and these start-ups raised approximately US$ 2.5 billion in 2020–2021.
- Digital health start-ups focused on women observed an increase in funding by around 105% in 2020. This signifies growth in the FemTech market, thereby presenting potential growth opportunities for businesses in the coming years.
- In 2019, Grove collaborative acquired Sustain Natural, a leading company in natural sexual wellness products. This strategy fortified the firm's product portfolio and market position.
Impact of COVID-19 Pandemic on Global Femtech Market:
The Femtech market experienced a significant positive impact of COVID-19 as several lifestyle diseases affected women's health. During the pandemic, women faced the increasing concern of health conditions such as reproductive disease due to changed lifestyle habits, mental health, high risk of developing metabolic syndrome, and other chronic diseases. In pregnancy, mainly miscarriages, stillbirths, and birth complications arose, leading to anxiety, depression, and hormonal imbalance. Thus, with growing health concerns, coupled with restrictive guidelines during the pandemic, industry leaders developed innovative software, services, and products with the use of digital technology to reach remote areas across the world. The new generation services provide remote healthcare services to healthcare professionals in hospitals, fertility clinics, and diagnostic centers, as well as to patients remotely.
Advanced Technological Solutions For Precise Treatment is Catalyzing Growth of the Global Femtech Market:
Growing health consciousness among the female population and normalizing and proactively addressing women’s health issues are contributing to the market growth. Increase in disposable income, digital literacy, smartphone penetration, internet connectivity, digital health infrastructure, and the emergence of startups focusing on women’s health present lucrative opportunities to new and existing market participants. The growing availability of smart wearable devices is contributing to market growth.
Health tech developers and investors are capitalizing on untapped opportunities and funding innovative product development strategies to address women’s health issues. For instance, in 2020 HeraMED announced a partnership with eCare21, a leading virtual care platform, to integrate its heartCARE & heartBEAT products with the eCare21 platform. This has enhanced the product portfolio and development capabilities of the firm. In addition, in 2020, according to McKinsey Insights, around 45 to 50 new women’s health start-ups were founded, and these start-ups raised approximately USD 2.5 billion in 2020–-2021. This signifies growth in the FemTech market, thereby presenting potential growth opportunities for businesses in the coming years.
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