USD 5.1 billion
Report ID:
SQMIG35H2191 |
Region:
Global |
Published Date: September, 2024
Pages:
157
|Tables:
61
|Figures:
75
FemTech Market size was valued at USD 29.16 billion in 2022 and is poised to grow from USD 33.92 billion in 2023 to USD 113.53 billion by 2031, growing at a CAGR of 16.3% in the forecast period (2024-2031).
The femtech market is witnessing substantial growth supported by the increasing awareness of women’s health issues, rising investments by startups, and improvements in technologies like telemedicine, wearable technology, and mobile health applications. The market is also propelled by enhanced access to diverse services, the increasing demand for personalized medicine, and a key focus on gender-specific R&D. Nonetheless, the global market is hampered by a few challenging factors including regulatory challenges like lack of uniform guidelines and complex approval processes, and growing data security and privacy issues. Yet, the market is fueled by a few opportunities, including the development of new products, global market progress, and integration with telehealth.
Global Market Size
USD 5.1 billion
Largest Segment
Wearables
Fastest Growth
Wearables
Growth Rate
11.1% CAGR
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Global FemTech Market is segmented on the basis of type, application, end use, and region. By type, the market is segmented into Devices, Software, Services, and Consumer Products. By application, the market is segmented into Pregnancy and Nursing Care, Reproductive Health & Contraception, Menstrual Health, General Health, Pelvic & Uterine Health, Sexual Health, Women's Wellness, Menopause Care, and Longevity & Mental Health. By end-use, the market is segmented into direct-to-consumer, hospitals, surgical centers, fertility clinics, diagnostic centers, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
Based on type, the femtech market is categorized into devices, software, services, and consumer products. The devices segment held a notable share of the market in the previous years and is expected to lead over the forecast period as well owing to direct monitoring of health, better user engagement, and the development of innovative solutions. Devices like health monitors and wearable devices offer quick feedback options on diverse health metrics. This enables women to effectively track their reproductive parameters and overall well-being with ease. Most devices provide improved gamified experiences and engaging interfaces that motivate the daily use of such devices and comply with health regimes. Moreover, emergence of innovative solutions like fertility trackers and menstrual cups is attracting tech-savvy users seek more personalized products.
On the other hand, the software segment is projected to grow considerably over the forecast period owing to increased accessibility and scalability, user-centric design, and insights and data analytics. Software applications, including wearable technologies and different health tracking applications can be easily accessed via mobiles, which help reach a large population without needing for addition physical devices, increasing convenience. Several software companies are offering personalized solutions that enable users to adjust and obtain tailored health insights depending on their data. The software can capably analyze huge data quantities, offering users useful insights into trends, patterns, and upcoming health issues.
Analysis by End Use
Based on end use, the market is segmented into direct-to-consumer, hospitals, surgical centers, fertility clinics, diagnostic centers, and others. The direct-to-consumer segment held a notable market share in the previous years and is expected to continue dominance over the forecast period as well owing to better consumer empowerment, accessibility and convenience, and personalization. DTC or direct-to-consumer offerings help women to track their health with streamlined use of products that do not require a medical professional. Also, accessibility to several femtech products via online shopping has increased convenience and access to varied tailored solutions. DTC companies are also emphasizing niche markets, delivering personalized solutions that cater to growing health needs.
On the other hand, the hospitals segment will hold a remarkable market share in the coming years owing to availability of integrated care, access to improved technology, and professional services. Hospitals offer well-integrated femtech solutions that amalgamate treatment, diagnostics, and follow-up care, confirming quality patient care and continuity of services offerings. These settings are well-equipped with advanced resources to adopt and use femtech software and devices like fertility treatment solutions and telemedicine platforms for better patient outcomes. Also, availability of professional working staff ensures better use of these solutions that increases trust among women patients.
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Geographically, North America dominated the market in the previous years and is expected to lead over the forecast period owing to the strong investment landscape, growing awareness and demand, and rising technological advancements. A strong ecology of venture capital companies is heavily investing in several femtech startups, fueling development and innovations. Also, growing awareness regarding women’s health, resulting in higher demand for targeted solutions. The region also has broad penetration of wearable technology and smartphones that streamlines the use of diverse femtech products. The key players profiled in the region include Fitbit Inc., iSono Health, Inc. NUVO Inc., Allara Health, HeraMED, Flo Health Inc., Natural Cycles USA Corp, and more.
Asia-Pacific is the fastest-growing region in global femtech market due to ever-growing population, growing awareness about the benefits of femtech products, adoption of technologies, and changing cultural shifts. With major female population, the demand for customized health solutions is surging speedily. Moreover, growing awareness regarding numerous health concerns in women is moving interest in bettering femtech solutions, mainly in the developing regions. Also, increased use of smartphones is streamlining the use of diverse femtech devices and applications. Changing societal standards are resulting in increased open discussions on women’s health, encouraging adoption of products and reducing stigma.
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Drivers
Changing Healthcare Demands
Growing Awareness Increasing Women’s Health Issues
Restraints
Healthcare Systems Hurdles to Restrain Market
Investment and Funding Barriers
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The dynamic and diverse competitive landscape of the global femtech market is distinguished by the amalgamation of well-established companies, emerging players, and new entrants. Key wellness and health firms are focusing on expanding their product lines to comprise femtech products like Johnson & Johnson, Procter & Gamble, and Clue. Most new entrants are emphasizing niche areas in femtech like menopause management by Gennev, menstrual health by Lola and Thinx, and fertility tracking by Ovia and Ava. Several other companies are engaged in big data and AI to offer personalized health insights for effectiveness and user engagement.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the femtech market is considerably progressing due to the increasing funding and investments by venture capitals, changing healthcare needs, and changing demographies. However, the market is hampered by low education and awareness for the benefits of femtech products, technological limitations, and lack of evidence and research. North America is anticipated to lead the market owing to favorable regulations, well-developed healthcare infrastructure, and growing awareness for femtech products and services and demand. Nonetheless, a few opportunities for the femtech market include emphasis on preventive care, improvements in data analytics and AI for use in femtech products and growing educational communities and platforms.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 29.16 billion |
Market size value in 2031 | USD 113.53 billion |
Growth Rate | 16.3% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Femtech Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Femtech Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Femtech Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Femtech Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35H2191