Pune, India, April 17, 2023 (GLOBE NEWSWIRE) -- The global femtech market size was valued at USD 5.79 billion in 2022. The market is projected to grow from USD 6.69 billion in 2023 to USD 20.59 billion by 2030, exhibiting a CAGR of 17.4% during the forecast period. Femtech refers to technology products related to females. It includes technology products, software, and services. The primary focus is to develop tech-enabled solutions to cater to the unmet rising need for women’s health disorders. Rising funding and investments coupled with an increasing number of startups with novel femtech solutions to propel market growth. Fortune Business Insights™ shares this information in its report titled “Femtech Market, 2023-2030.”
Key Industry Development
- July 2022: Lisa Health collaborated with Mayo Clinic to launch AI-based application called Midday for supporting menopausal women’s health. Lisa Health is a digital company that focuses on advanced technology.
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Report Scope:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2022 to 2029 CAGR | 17.4% |
| 2030 Value Projection | USD 20.59 Billion |
| Base Year | 2022 |
| Market Size in 2022 | USD 5.79 Billion |
| Historical Data | 2019 to 2021 |
| No. of Pages | 180 |
Key Takeaways
- Rising adoption of technology-enabled women’s health products and solutions among the female population.
- North America accounted for the largest market share and generated a revenue of USD 3.02 billion in 2022.
- The segment is expected to grow at a considerable CAGR during the forecast period.
Drivers and Restraints
Rising Number of Funding for R&D Activities to Fuel Market Progression
Rising number of funding for R&D activities is anticipated to drive the femtech market growth. There is increasing number of technological advancements resulting in the adoption of technology-enabled women’s health products and solutions among the female population. Rising awareness regarding these products in developed countries is another primary reason for the increasing adoption of the products in the market. The market players are constantly focusing on research and development activities to develop innovative digital products and platforms.
However, limited access to high-tech products and services is anticipated to hamper the market growth.
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Segments
Mobile Applications Dominated due to Rising Penetration Among General Population
On the basis of type, the market is divided into products and mobile applications. Mobile applications segment dominated the segment in 2022 due to increasing number of mobile applications for menstruation, period tracking, and several others. Products segment is also estimated to have the highest CAGR due to rising awareness regarding the products and its technological advancements.
Pregnancy & Nursing Care to Govern Owing to Rising Awareness of Wearables and Devices
Based on application, the market is categorized into menstruation care & fertility tracking, pregnancy & nursing care, menopausal health, and general health & wellness. The pregnancy & nursing care segment had a majority share in 2022 due to rising awareness of wearables and devices for remote monitoring of women’s health. The menstruation care & fertility tracking segment is projected to grow due to increasing awareness of initiatives regarding women’s health concerns.
Based on region, the market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World.
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Regional Insights
North America to Lead Market Share Owing to Adoption of these Products and Applications
North America is anticipated to dominate the femtech market share due to the growing adoption of these products and applications among the population. The market reached the valuation of USD 3.02 billion in 2022 due to rise in healthcare expenditure and R&D activities. In December 2020, Natural Cycles USA Corp, submitted 510(k) PMA notification to the U.S. FDA. The notification is for its birth control wearables to expand its product portfolio.
Europe to grow at a considerable CAGR due to increasing awareness for women’s health and benefits offered by digital products and applications. Rising focus to expand its activities and facilities for the development and introduction of innovative products in the region is anticipated to drive the regional’s growth.
Asia Pacific to have the highest CAGR due to rising healthcare expenditure and awareness among the women population regarding health issues.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Competitive Landscape
Development of Novel Products by the Key Players to Set Market Progression
The market landscape consists of main market players such as Flo Health Inc., Natural Cycles USA Corp., and Glow, Inc. The global market has many startups, which focus on developing novel products and solutions for women’s health issues. In February 2021, Biowink GmbH received the U.S. FDA approval for its Clue Birth Control as a medical device that is available to an initial group of people in the U.S. Chiaro Technology Limited., Joylux, Inc., and Coroflo, Ltd., are other prominent players of the market are focused on developing and introducing products.
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List of Key Players Profiled in the Report
- Flo Health Inc. (U.K.)
- Chiaro Technology Limited (U.K.)
- Natural Cycles USA Corp (U.S.)
- BioWink GmbH (Germany)
- FemTec Health (U.S.)
- Glow, Inc. (U.S.)
- HeraMed (Israel)
- Joylux, Inc. (U.S.)
- Coroflo Ltd. (Ireland)
Major Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Prevalence of Key Disease, by Key Region (2022)
- Key Industry Developments (Mergers, Acquisitions & Partnerships)
- New Product Launches
- Technological Advancements in Femtech Products
- Impact of COVID-19 on Global Femtech Market
- Global Femtech Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Type
- Products
- Apps/Solutions
- Market Analysis, Insights and Forecast – By Application
- Menstruation Care & Fertility Tracking
- Pregnancy & Nursing Care
- Menopausal Health
- General Health & Wellness
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- Market Analysis, Insights and Forecast – By Type
- North America Femtech Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Type
- Products
- Apps/Solutions
- Market Analysis, Insights and Forecast – By Application
- Menstruation Care & Fertility Tracking
- Pregnancy & Nursing Care
- Menopausal Health
- General Health & Wellness
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Market Analysis, Insights and Forecast – By Type
- Europe Femtech Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Type
- Products
- Apps/Solutions
- Market Analysis, Insights and Forecast – By Application
- Menstruation Care & Fertility Tracking
- Pregnancy & Nursing Care
- Menopausal Health
- General Health & Wellness
- Market Analysis, Insights and Forecast – By Country/ Sub-region
- U.K
- Germany
- Italy
- France
- Spain
- Rest of Europe
- Market Analysis, Insights and Forecast – By Type
TOC Continued……
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