Global Femtech Market is expected to foresee significant growth. North America to lead the growth!
- Himanshu Patni
- November 21, 2022
- Femtech Market, Femtech Market Growth, Femtech Market Share, Femtech Market Size, Femtech Market Trends
- 0 Comments
Femtech is a term used to describe diagnostic instruments, products, services, wearables, and software that uses technology to treat problems with women’s health, including menstrual, reproductive, sexual, maternity, and menopausal disorders. The femtech market is expected to grow on account of the growing adoption of digital health solutions, increasing digital literacy and escalating smartphone penetration across the world. For instance, the number of smartphone users across the world exceeded the 3-billion mark and is anticipated to surpass the 4-billion mark in near future led by China, India, and the United States. Additionally, there is a considerable rise in no. of smartphone owners from 2.5 billion in 2016 to 3.8 billion in 2021.
The Femtech Market is expected to grow at a steady rate of around 12% during the forecast period. Factors such as rapid technological advancement in mobile health technology, changing traditional medical protocols and an upsurge in venture capital investments are some of the prominent factors contributing to the growth of the market.
Based on type, the femtech market is segmented into devices, software, services and others. The devices segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe owing to rising health consciousness & awareness coupled with the growing adoption of wearable devices among women. Furthermore, the shifting trend toward value-based care and the rising focus on a consumer-led model are also some of the factors driving growth.
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Based on application, the femtech market is divided into reproductive health, pregnancy & nursing care, pelvic & uterine healthcare and general healthcare & wellness. The reproductive health segment grabbed a significant market share in 2020 and is expected to grow considerably during the forecast period. The growth of this segment can be attributed to the increasing prevalence of reproductive health issues and growing awareness among females to maintain their reproductive health.
For a better understanding of the market adoption of femtech, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. The major factors such as well-established healthcare infrastructure and rapid digitalization of healthcare owing to various factors such as increasing smartphone penetration in the region as well as rising demand for health-related smart solutions among Americans. For instance, according to the Mobile Economy Report, smartphone adoption is growing and by the end of 2021, smartphones accounted for 83% of mobile connections in North America.
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Some of the major players operating in the market include Sera Prognostics, HeraMED, Athena Feminine Technologies, Inc., Flo Health, Inc, Natural Cycles USA Corp, Fitbit, Inc, Totohealth, Minerva Surgical, Inc., iSono Health, Biowink GmbH.
Global Femtech Market Segmentation
Market Insight, by Type
Market Insight, by Application
- Reproductive Health
- Pregnancy & Nursing Care
- Pelvic & Uterine Healthcare
- General Healthcare & Wellness
Market Insight, by End-Users
- Fertility Clinics
- Surgical Centers
Market Insight, by Region
- North America
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
- Sera Prognostics
- Athena Feminine Technologies, Inc.
- Flo Health, Inc
- Natural Cycles USA Corp
- Fitbit, Inc
- Minerva Surgical, Inc.
- iSono Health
- Biowink GmbH