The global femtech market accounted for US$ 25,291 Mn in 2021 and is estimated to reach US$ 97,317 Mn by 2030, with a significant CAGR of 16.3% from 2022 to 2030.
Femtech refers to technology-enabled software, diagnostics, products, and services that benefit women's health. In 2016, Ida Tin, the founder of Clue, a mobile fertility tracking software, coined the term "femtech." Femtech is a movement to create and invest in healthcare solutions that address the needs of women. A number of female-centric healthcare apps have been developed, addressing concerns such as infertility, menstrual health, birth control, and sexual wellbeing. Femtech businesses arose as a result of women's lack of access to adequate healthcare. Despite the fact that gender equality is considered a social norm in most industrialized countries, this is not the situation in the rest of the world.
|Market Size 2021||US$ 25,291 Mn|
|Market Forecast 2028||US$ 97,317 Mn|
|CAGR||16.3% During 2022 - 2030|
|Analysis Period||2018 - 2030|
|Forecast Data||2022 - 2030|
|Segments Covered||By Type, By End-Use, By Application, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Athena Feminine Technologies, Elvie, HeraMED, iSona Health, Totohealth, Minvera, Nuvo, Prelude, Sera Prognostics, Sustain Natural, and Univfy.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
10 hrs of free customization and expert consultation
Some of the primary driving aspects of the global femtech market include rising knowledge and acceptance of women's health issues and a surge in the use of digital technology to manage women's health. Until recently, medical research mainly neglected many women's health issues, and women have long been under-represented in clinical trials. Historically, research on women's health focused on disorders affecting fertility and reproduction, whereas many studies on other diseases focused on men. According to the WHO, over 800 women die every day during pregnancy and childbirth, mostly in Sub-Saharan Africa.
Women's technology, like technology for women, is gaining traction. The female-led technology (femtech) industry consists of technology and software companies that are dedicated to meeting the health requirements of women. This expansion has been fueled in part by increasing investment in telehealth and remote monitoring systems during the COVID-19 epidemic.
However, a significant lack of investment in women-led enterprises and women's health is a significant barrier to attaining health fairness. Another issue is the scarcity of women in the technology industry, with only one woman in every five individuals employed in the industry today. The COVID-19 pandemic, which has impacted women's health and economic security globally, has aggravated this. In addition, the lack of awareness of femtech products & services in emerging economies is also limiting the market growth.
On the other hand, the increasing burden of chronic and infectious diseases is fueling the femtech market growth. According to the International Diabetes Foundation, diabetes affects around 537 million persons aged 20 to 79. The total number of diabetics is expected to climb to 643 million by 2030 and 783 million by 2045. Among them, women also held a significant share in this period. Then again, menstrual irregularities occur in an estimated 14% to 25% of women of childbearing age. In addition to that, the leading cause of women’s death is heart disease, cancer, and COVID-19. All these aspects are triggering numerous start-ups and collaborations to support women’s health and serve them with immediate medical attention.
The global femtech market is segmented based on type, end-use, application, and geography.
Market By Type
Among them, the product type segment accounted for a significant market share in 2021. Government initiatives to raise awareness about women's health, as well as advanced technical options for precise treatment, will drive market growth. Major healthcare players are stressing the creation of a product pipeline through the use of digital technology. Furthermore, growing companies are heavily spending on R&D to create unique products that would provide better solutions to women. However, the software segment is anticipated to attain a considerable growth rate during the forecast period 2022 – 2030.
Market By End-Use
Based on end-use, the diagnostic centers segment is expected to register a significant growth rate throughout the forecast period 2022 – 2030. This is credited to the rising patient inflow prone to several diseases. Specialty diagnosis options for chronic and infectious disorders are available at diagnostic facilities. The introduction of digital health, particularly telehealth systems, has sped up the patient care process. This has allowed a reduction in patient visits, even during the pandemic.
Market By Application
Among all of them, the reproductive health segment is likely to attain a noteworthy CAGR in the coming years. There are several common reproductive health concerns for women such as endometriosis, gynecologic cancer, uterine fibroids, interstitial cystitis, HIV/AIDS, and polycystic ovary syndrome (PCOS) among others. Many initiatives are undertaken by world organizations such as the WHO, CDC, Department of Health (Australia), and UNFPA to support and create awareness of women’s reproductive health concerns, thereby boosting the segmental growth.
Femtech Market Regional Overview
Middle East & Africa (MEA)
The growing prevalence of women related diseases in the North America region, fuels the regional market growth
The regional segmentation is given as North America, Latin America, Asia-Pacific, Europe, and the Middle East & Africa. Among all the regions, North America accumulated the largest amount of share in 2021. The surge in prevalence of women-related diseases, high awareness for femtech products & services, and the rising number of menstrual and fertility clinics are all expected to drive the North America femtech market forward. In addition, the Asia-Pacific region is likely to witness the fastest growth rate in the coming years, due to the ongoing investments in the healthcare industry for enhanced treatment facilities. Additionally, the growing number of chronic and infectious disorders in the Asia-Pacific region is also supporting the regional market growth.
Some of the top vendors offered in the professional report include Athena Feminine Technologies, Elvie, HeraMED, iSona Health, Totohealth, Minvera, Nuvo, Prelude, Sera Prognostics, Sustain Natural, and Univfy.
The estimated value of Global Femtech Market in 2021 was accounted to be US$ 25,291 Mn and market projected to reach US$ 97,317 Mn by 2030
The projected CAGR of Global Femtech Market during the analysis period of 2022 to 2030 is 16.3%
The prominent players of the global femtech market involve Athena Feminine Technologies, Elvie, HeraMED, iSona Health, Totohealth, Minvera, Nuvo, Prelude, Sera Prognostics, Sustain Natural, and Univfy.
North America held the dominating share for femtech during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for femtech during the analysis period of 2022 to 2030.
Growing awareness of women's health and wellbeing, an increase in the use of digital technology to manage women's health, and an increase in the burden of chronic and infectious diseases among women all contribute to the expansion of the worldwide femtech market.
Based on type, product segment held the maximum share for femtech market in 2021.