The femtech market revenue will reach US$ 1.2 billion in 2023. The overall market is estimated to reach US$ 5.0 Billion by 2033, increasing at a CAGR of 15.2% from 2023 to 2033. Growth prospects are projected to stay favourable for the foreseeable future, aided by a growing demographic of working women.
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Emergence of Femtech Solutions and Technology
Devices, software, and services are all included in this subsegment of the femtech market. Growing prevalence of chronic and infectious diseases in the female population base will increase the need for better diagnosis and treatment options, driving the segment’s growth.
Businesses are always putting their attention into the creation of cutting-edge, new methods for enhancing the health and wellness of women. Improvements in women’s health goods among others will help the market grow.
The disparity between urban and rural areas, population inconsistency, and demographics are identified as the main femtech market limitations. Societal expectations for women’s health, particularly those concerning menstruation, fertility, sexual well-being, and birth control, are intended to restrain market expansion.
The development of the femtech sector in developing nations may be hampered by women users’ lack of knowledge about the products and applications available. A rising number of femtech businesses, including start-ups, are creating a highly competitive sector.
The Asia Pacific region is predicted to have one of the greatest femtech market shares due to the rising number of patients in countries such as India and China. In the United States, rising awareness of women’s health issues, especially menstrual and fertility health has resulted in the acceptance of Femtech solutions.
The primary players are concerned with offering services such as tailored prenatal care. These factors lead to the country’s increased adoption of Femtech services. The expanding prevalence of menstrual issues, which is driving higher market acceptance of direct-to-consumer marketing, indicates that Femtech is gaining pace.
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Key Takeaways
- In the femtech market Diagnostics in the service segment are to grow at a CAGR of 13.2% through 2033.
- Menstrual Health is expected to accelerate at a CAGR of 12.4% in the femtech market through 2033.
- During the projection period, the U.S. market for femtech is expected to grow at a CAGR of 12.2% and reach US$ 1.4 Billion by 2033.
- Femtech sales in the United Kingdom are expected to grow at a CAGR of 14.3% over the forecasted period and hit US$ 274.6 Million by 2033.
- By 2033, the China femtech market is set to reach US$ 438.9 Million, registering a CAGR of 17.1%.
- Femtech sales in Japan are likely to increase by a CAGR of 18% over the forecasted period and achieve US$ 368.1 Million by 2033.
- During the forthcoming years, the market for femtech in South Korea is assumed to expand at a CAGR of 19.9% and attain 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.
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.
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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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