According to a recent Future Market Insights (FMI) report,the global femtechmarket is estimated to hit a valuation of US$ 948.1 Mn in 2021,with a market CAGR of 15.0% during the forecast period (2021-2031). Femtech is
a term used for female technology which involves the use of digital
health tools including software, diagnostics, products, and services that
are targeted at women’s health.
Market demand is set to rise at a steady pace throughout theforecast period, majorly favored by investments outside the boundaries of
healthcare towards a branched approach involving domains such as workplace
regulations, financial equity, and state legislation.
The primary factor supporting the femtech market to positiveexpansion in terms of growth and stability is the advent of digitalization
and artificial intelligence. Technological advancements such as
cloud-based informatics allow personalized solutions, driven by consumer input.
This has given rise to affordable and accessible analysis in terms of personal
health monitoring and diagnosis.
Key market players have pushed for innovation andaccessibility into customized digital solutions. This also includes the
introduction of hands-free wearables which are assistive with the regular,
day-to-day life of women across the globe.
Additionally, leading product developers in the femtechmarket work through commercial partners such as department stores, big-box
retailers, hospitals, clinics, insurance companies, pharmacies and drugstores,
private medical practices and e-commerce platforms to expand product sales
prospects.
“The advent oftechnological improvements in healthcare in the form of devices, applications,
services, and products has increased the rate of diagnosis of reproductive
disorders in terms of time management and treatments for women. This will aid
growth through the upcoming decade,” says the FMI Analyst
- Key Takeaways from Femtech Market Study
- Menstrual health applications will drive market growth holding around a third of the
market, supported by growing purchases from the working women demographic. - Diagnostic services are projected to cover about 45% of the global market by 2031.
This is aided by the growing accessibility of digital health services - The U.S. holds a dominant share, valuing at over US$ 357.1 Mn by the end of
2021, supported by the presence of leading players and higher consumer
acceptance. - The U.K. and Germany dominate the Europe market, cumulatively accounting for
more than 25% of the regional revenue. - China is a leading market in East Asia, and is forecast to account for more than
50% of the regional value share owing to a vast consumer base.
Who is Winning?
Some of the leading companies operating in the femtechmarket are focusing on collaborations with leading institutions for increasing
awareness among the population about the adoption of digital health services.
Collaborations with key pharmaceutical companies to launchcustomized products and services for the growing consumer base has led key players
to retain their position in the market while expanding their product portfolio.
- Research collaboration in monitoring fetal heart rates through wearable ECG chips
by between Bloomlife and Imec in 2019 has expectantly given rise to
superior monitoring capabilities in maternity care. - Femtech companies have integrated applications for tracking
fertility and offer services such as in-vitro fertilization.
Additionally, they also offer medical treatments and products such as
wearables and hands-free devices.
Femtech by Category
- By Service
- Diagnostics
- Monitoring
- Therapeutic
- By Application
- General Health and Wellness
- Maternity Care
- Menstrual Health
- Pelvic and Uterine Healthcare
- Cancer and Chronic Disease
- By End User
- Direct-to-consumer
- Hospitals
- Surgical Centers
- Fertility Clinics
- Diagnostics Centers
- By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa (MEA)
Information Source:
