By 2023, the Global Femtech Market size would generate US$ 1.2 billion in revenue. The global Femtech market is expected to reach US$ 5.0 billion by 2033, growing at a 15.2% CAGR. Growth prospects are expected to remain good for the foreseeable future, boosted by an increasing working-women demographic.
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Emergence of Femtech Solutions and Technology
Hardware, software, and services are all included in this Femtech market category. As the prevalence of chronic and infectious diseases among women rises, so will the demand for better diagnosis and treatment options, driving market expansion in this sector.
Businesses are constantly working to develop new ways to improve women’s health and wellness, such as developments in women’s health goods, which will help drive market growth.
Inequality between urban and rural areas, disparities in population, and demographic challenges all impede the Femtech industry. Societal expectations about women’s health, specifically menstruation, fertility, sexual well-being, and birth control, may further constrain market expansion.
Female users’ lack of information about available products and applications may stymie the expansion of the Femtech sector in undeveloped countries. Regardless, the increasing number of Femtech companies, particularly start-ups, is making this a highly competitive market.
The Asia Pacific region is expected to account for a substantial portion of the Femtech market due to the growing number of patients in countries such as India and China. There is an increasing awareness of women’s health issues, notably menstrual and fertility health, in the United States, which is contributing to acceptance of Femtech solutions.
Primary players in the Femtech market are focused on offering services such as tailored prenatal care, contributing to increased adoption of Femtech services. The growing prevalence of menstrual issues is also driving higher market acceptance of direct-to-consumer marketing, indicating that Femtech is gaining momentum.
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Key Takeaways
- Diagnostics in the service segment are predicted to grow at a 13.2% CAGR in the Femtech market until 2033.
- In the Femtech industry, Menstrual Health is expected to develop at a 12.4% CAGR until 2033.
- The US Femtech market is expected to grow at a CAGR of 12.2% during the projected period, reaching US$ 1.4 billion by 2033.
- Over the projected period, femtech sales in the United Kingdom are expected to grow at a 14.3% CAGR, reaching US$ 274.6 million by 2033.
- The China Femtech market is estimated to reach $438.9 million by 2033, growing at a 17.1% CAGR.
- Femtech sales in Japan are expected to grow at an 18% CAGR over the anticipated period, reaching US$ 368.1 million by 2033.
- The Femtech market in South Korea is expected to grow at a CAGR of 19.9% in the next years, reaching US$ 107.7 million by 2033.
Competitive Landscape
Some of the market leaders in Femtech include Flo Health, Inc., Apple, Inc., Clue by Biowink GmbH, Glow, Inc., Google, Inc., Natural Cycles USA Corp., Withings, and Fitbit, Inc. Market players throughout the world are being compelled to provide novel product offerings and technical solutions as a result of the increased demands brought on by the unmet healthcare needs of the female population.
To increase their commercial reach, key participants are concentrating on mergers and acquisitions and technology partnership methods.
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Recent Development
- Partnership – February 2018
Clue and Fitbit worked together to improve women’s access to healthcare in February 2018. The partnership allowed the business to take advantage of market opportunities and increase the number of its current clients.
- Product Launch – May 2019
Tampax PURE, an organic, chlorine bleach, and dye tampon, was introduced in May 2019 by Tampax and Always, one of P&G’s top period care brands. The company’s product offers will be improved by this innovative product introduction, which will also improve its financial performance in the market.
Key Segments
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
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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