Femtech Market worth over $48.5bn by 2025
Published Date: November 28, 2019 Authors: Sumant Ugalmugle, Rupali Swain
Femtech Market size is set to surpass USD 48.5 billion by 2025, according to a new research report by Global Market Insights, Inc.
Femtech market growth is owing to growing burden of chronic as well as infectious diseases among the female population worldwide. According to the American Institute for Cancer Research, breast cancer is the frequently occurring cancer among women, accounting for around 2 million new cases in 2018. Hence, increasing in number of women related health issues will foster the demand for technologically advanced healthcare solutions. Moreover, rising focus of women in developed economies, on reproductive health and sexual wellness will further favor the market expansion.
Increasing awareness regarding early disease diagnosis and treatment among the female population base is poised to drive the industry growth
Growing awareness among women regrading early disease diagnosis and treatment as a part of patient’s care plan will augment the market value. Various efforts undertaken by government and other organizations in developing countries to raise awareness regarding women’s health will enhance the market progression. Initiatives such as Janani Suraksha Yojana, initiated by the Government of India, to support and improve women health will upsurge the market revenue. Furthermore, growing inclination towards regular check-ups for preventive care as well as development of user-friendly technologies to monitor individual health conditions will prove beneficial for the women health industry expansion.
Adoption of advanced mobile applications to monitor various health conditions will spur the femtech market demand
The software segment was valued at USD 5 billion in 2018. Usage of several period tracking and fertility apps is increasing among the female population for effective tracing of health status. For instance, Flo period & ovulation tracker is an AI powered health app, that encompasses accurate menstrual cycle predictions, offers personalized daily health insights and supports women throughout the reproductive period. Development of such user-friendly and accurate applications will accelerate the industry progression.
Browse key industry insights spread across 150 pages with 90 market data tables & 8 figures & charts from the report, “Femtech Market Size By Type (Devices, Software, Services), By Application (Reproductive Health, Pregnancy & Nursing Care, Pelvic & Uterine Healthcare, General Healthcare & Wellness), By End-use (Direct-to-consumer, Hospitals, Fertility Clinics, Surgical Centers, Diagnostic Centers), Industry Analysis Report, Regional Outlook, Price Trends, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Awareness among women regarding early disease diagnosis and timely treatment will accelerate the femtech market growth
The general healthcare & wellness application is estimated to witness around 16% growth rate by 2025. Growing awareness among women regarding early disease diagnosis will increase the industry demand for improved diagnostic and screening solutions to ensure timely and successful treatment. Delays in accessing cancer care or other disease treatments may negatively impact the patient health status resulting in severe health conditions or deaths. Thus, rising acceptance of femtech solutions for effective disease diagnosis and management will favour the market expansion during the forecast period.
Development of various health and fitness apps for home use will expand the segment growth
Direct-to-consumer segment held more than 25% of the femtech market share in 2018 led by introduction of various period & fertility tracking apps, pregnancy monitoring solutions for homecare settings and other solutions specifically designed to address women needs. In addition, improvisations in feminine hygiene products and growing usage of tampons and menstrual cups over sanitary napkins will further serve as another market driving factor. Focus of companies on development of novel, affordable, safe and reliable healthcare solutions for the female population base will thus fuel the market value.
North America region is the hotbed for femtech products and investors
North America femtech market is predicted to expand at a CAGR of over 15.5% through 2025 due to the rising burden of women related diseases in the region. Investments in femtech and awareness regarding women health will surge the demand for technologically advanced solutions. Strong foothold of major market players such as Athena Feminine Technologies, Univfy and others, aimed at improving quality of life of women, will further favor the industry revenue. Additionally, government focus on maintaining women health and wellness will further boost the regional growth during the forecast timeline.
Large consumer base for femtech products will offer several growth opportunities to the business players
Some of the major companies operating in the market include Athena Feminine Technologies, iSono Health, Nuvo, HeraMED, Minerva, Sustain Natural, Totohealth, Sera Prognostics, Elvie and BioWink. The market leaders focus on numerous strategic initiatives including acquisitions, mergers and new product launches to capitalize on market opportunities and strengthen financial stability.
Explore More on Related Topics: