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Femtech is a term used for female technology which involves the use of digital health tools including software, diagnostics, products, and services that are targeted at women’s health. According to a recent Future Market Insights (FMI) report, the global femtech market is estimated to hit a valuation of US$ 948.1 Mn in 2021, with a market CAGR of 15.0% during the forecast period (2021-2031).

Market demand is set to rise at a steady pace throughout the forecast period, majorly favoured by investments outside the boundaries of healthcare towards a branched approach involving domains such as workplace regulations, financial equity, and state legislation.

The primary factor supporting the femtech market to positive expansion in terms of growth and stability is the advent of digitalization and artificial intelligence. Technological advancements such as cloud-based informatics allow personalized solutions, driven by consumer input. This has given rise to affordable and accessible analysis in terms of personal health monitoring and diagnosis.

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Key market players have pushed for innovation and accessibility into customized digital solutions. This also includes the introduction of hands-free wearables which are assistive with the regular, day-to-day life of women across the globe.

Additionally, leading product developers in the femtech market work through commercial partners such as department stores, big-box retailers, hospitals, clinics, insurance companies, pharmacies and drugstores, private medical practices and e-commerce platforms to expand product sales prospects.

Key Takeaways from Femtech Market Study

• Menstrual health applications will drive market growth holding around a third of the market, supported by growing purchases from the working women demographic.
• Diagnostic services are projected to cover about 45% of the global market by 2031. This is aided by the growing accessibility of digital health services
• The U.S. holds a dominant share, valuing at over US$ 357.1 Mn by the end of 2021, supported by the presence of leading players and higher consumer acceptance.
• The U.K. and Germany dominate the Europe market, cumulatively accounting for more than 25% of the regional revenue.
• China is a leading market in East Asia, and is forecast to account for more than 50% of the regional value share owing to a vast consumer base.

“The advent of technological improvements in healthcare in the form of devices, applications, services, and products has increased the rate of diagnosis of reproductive disorders in terms of time management and treatments for women. This will aid growth through the upcoming decade,” says the FMI Analyst

Who is Winning?

Some of the leading companies operating in the femtech market are focusing on collaborations with leading institutions for increasing awareness among the population about the adoption of digital health services.

Collaborations with key pharmaceutical companies to launch customized products and services for the growing consumer base has led key players to retain their position in the market while expanding their product portfolio.

• Research collaboration in monitoring fetal heart rates through wearable ECG chips by between Bloomlife and Imec in 2019 has expectantly given rise to superior monitoring capabilities in maternity care.
• Femtech companies have integrated applications for tracking fertility and offer services such as in-vitro fertilization. Additionally, they also offer medical treatments and products such as wearables and hands-free devices.

Key market players covered by FMI include Clue, Aparito Limited, Bloomlife, Bonzun Health Information AB, Elvie, Ava Science Inc., Grace Health, iBreve, LactApp, Natural Cycles Nordic AB, Hera Med Ltd., Niramai Health, NURX Inc., SteadySense GmbH, Pregnolia AG, Willow, WOOM and B-wom.

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Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global femtech market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the femtech market based on service (diagnostics, monitoring, therapeutic), application (general health and wellness, maternity care, menstrual health, pelvic and uterine healthcare, cancer and chronic disease), and end-user (direct-to-consumer, hospitals, surgical centres, fertility clinics, diagnostics centres) across seven major regions.

The prevalence of urological diseases – such as urinary retention, benign prostate hyperplasia (BPH), bladder obstruction, urinary incontinence, and prostate cancer – has witnessed a significant uptick in the recent past. According to the statistics of the Centers for Disease Control and Prevention (CDC), nearly 15-25% of hospitalized patients receive a urinary catheter annually. As the number of hospital admissions continues to rise year-on-year, there is a persistent need for foley catheters in hospitals, which are projected to remain a crucial end-use segment.

Likewise, the growing burden of urinary retention, a chronic condition in which individuals cannot voluntarily urinate, is propelling demand for foley catheters to facilitate easy drainage of urine. As per the estimates of the American Academy of Family Physicians (AAFP), approximately 4.5 to 6.8 per 1,000 men in the US suffer from urinary retention. As the incidence of disorders continues to grow across the world, the demand for foley catheters is poised to remain high for the years to come.

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Along similar lines, the high prevalence of urinary incontinence, a condition that causes the urine to leak involuntarily, is projected to bestow remunerative opportunities to players in the foley catheters market. The severity of urinary incontinence rises with age, with men above 70 being the most affected. The expanding base of the geriatric population will continue to necessitate the usage of foley catheters.

Having analyzed and scrutinized all the aforementioned facets in its new market study, Future Market Insights (FMI) projects that the global foley catheters market will grow in value at a CAGR of nearly 5% between 2020 and 2030. Some of the key takeaways from the report include:

• The global foley catheters market is expected to surge past valuation of US$ 2.2 Bn by the end of 2030.
• By product type, 2-way foley catheters are poised to remain the most sought-out variants, owing to their wide availability and simple installation, and will hold more than half of the overall market value.
• Among materials, latex-based foley catheters are expected to gain an edge over their counterpart, silicon-based foley catheters, backed by their ability to reduce urethral irritation.
• Based on indication, urinary incontinence is expected to remain the largest segment, on the back of high incidence among geriatric population.
• North America will remain at the forefront of the regional landscape ascribed to high expenditure on medical aids coupled with new product approvals.
• Asia Pacific and Europe will continue to bestow remunerative opportunities to market players.

“With catheter-acquired infections being a major challenge to the adoption of foley catheters, manufacturers are focusing on developing products with materials and coatings that aid in reducing accumulation of bacteria, thus restraining the possibility of catheter-acquired infections among patients” remarks FMI analyst.

COVID-19 Impact on Foley Catheters Market

COVID-19 is expected to create slight fluctuations in the growth trajectory of the foley catheters market. There has been a notable shift in priorities of healthcare institutions, with treatment for COVID-19 patients being the utmost priority across the world. Hospitals in severely affected nations such as the US and India have deprioritized non-essential hospitalizations, leading to a downfall in the demand for foley catheters. With urology not being the most concerning healthcare issue currently, the sales of numerous urology care devices, including foley catheters are likely to witness a decline across hospitals. However, the demand for foley catheters in long-term care facilities is poised to remain unhinged through the pandemic, and will continue to drive the sales of these devices.

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Who is Winning?

Major players in the market are focusing on developing advanced catheters that reduce the likelihood of the patient developing catheter-associated infections. To achieve the same, they are using novel materials and coatings, and are seeking approvals to commercialize their devices. On these lines,

• C.R Bard is using silver-ion and antimicrobial coatings in the production of foley catheters to eliminate the risk of catheter-associated infections when used for long periods.
• B. Braun Melsungen AG continues to develop its catheter product line named Actreen® catheters, designed specifically for urinary retention, and are coated with lubricants to make it comfortable and hygienic to use.
• In 2019, Safe Medical Design Inc., procured FDA approval to commercialize its new catheter designed to reduce to urethral trauma.

FMI’s report includes profiles of some of the most prominent names in the market including Teleflex Incorporated, Cardinal Health, C.R Bard, B. Braun Melsungen AG, Coloplast A/S, Medtronic plc, Flume, ConvaTec Group, VOTG Medical, Sterimed Group, Ribbel International Limited, Angiplast Private Limited, Mais India Medical Devices Private Limited, and JK Medirise.

The approximately US$ 25 Bn market for benign prostatic hyperplasia prostate treatment is likely to expand at 4.6% CAGR during 2018-2028, according to a recent research report of Future Market Insights (FMI). The report has envisaged steady growth prospects for the revenue of global benign prostatic hyperplasia prostate treatment market through 2028.

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According to the latest research by Future Market Insights (FMI), the tattoo removal lasers market closed in on US$ 179 million in 2018. The revenue growth of tattoo removal lasers market has been estimated at a promising rate over the course of coming years. While over 7 in 10 patients prefer aesthetic clinics for the procedure of tattoo removal lasers, market value share of tattoo studios is likely to expand in coming years, as per FMI’s analysis.

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The growth of weight loss and obesity management market is attributed to the rising epidemic of obesity across the globe. According to the latest research by Future Market Insights (FMI), the global weight loss and obesity management market is anticipated to reach a valuation of over US$ 4.9 Bn, by the end of 2028. The weight loss and obesity management market is expected to expand at a steady CAGR of 5.2%, over the forecast period of 2018-2028.

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Upper limb prosthetic sales in 2019 are estimated to close in on US$ 330 Mn, and record a Y-o-Y growth of 4.4% over 2018, according to a new study of Future Market Insights (FMI). Upper limb prosthetics have been witnessing progressing sales scenario at a modest pace over the recent past. Besides a rising trend of cosmetic prosthetics, prevalence of sports injuries is significantly contributing to the demand growth of upper limb prosthetics in the global market.

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Embolization is a process through which embolus is placed into the blood vessel to block the blood flow to a particular area of the body. The embolus is usually a blood clot formed due to clotting of blood cells. However, the artificial embolus is used to close off blood vessels to prevent the blood from reaching a particular part of the body to eliminate abnormal conditions in the body like a renal aneurysm, arteriovenous fistula, hypogastric artery embolization, endoleak embolization, GI bleeding and treatment of tumors. Peripheral embolization is usually used to shrink tumors by blocking the blood flow to it. Peripheral embolization devices often use embolus made up of various drugs which along with blocking the blood flow also are targeted towards the treatment of a tumor. Embolization is efficient and less invasive as compared to open surgery and therefore poses a little risk to the patient.

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Peripheral Embolization Device Market: Drivers and Restraints

The global peripheral embolization device market is driven by the rising incidence of cancer and cardiovascular diseases. According to CDC (Centers for Disease Control and Prevention) by 2025, 19.3 million cases of cancer cases are expected to be diagnosed each year, which in turn is expected to increase demand for peripheral embolization devices for early treatment of malignant tumors. The increasing mortality rate due to cardiovascular diseases is expected to boost demand for peripheral embolization devices.

Increasing cardiovascular patients owing rising global geriatric population is expected to provide high growth opportunities for the peripheral embolization devices manufacturers over the forecast period.  Moreover, technological developments in new peripheral embolization devices aimed to increase safety among patients and ease of use for physicians is expected to provide significant growth opportunities for the peripheral embolization devices manufacturers. However, the high cost of peripheral embolization devices and complications like coil migration, perforations, and spasms among patients is expected to hamper market growth over the forecast period.

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Peripheral Embolization Device Market: Region – wise Outlook

The peripheral embolization device market is expected to witness healthy growth throughout the forecast period with North America expected to be the leading market. High demand for peripheral embolization devices from cancer patients is expected to boost the market growth over the forecast period. Favorable reimbursement policies and up gradation in the compensation for the patients is North America is projected to drive demand for peripheral embolization devices in North America over the forecast period.

Moreover, several global manufacturers in this region are expected to promote the use of peripheral embolization devices and in turn is supposed to increase the adoption rate of the devices. Western Europe is expected to be second largest market followed by North America owing to high awareness related to the use of peripheral embolization devices for treatment of cardiovascular and bleeding disorders. APEJ (Asia-Pacific excluding Japan) and Japan are expected to follow next after Western Europe owing to high population and increasing the incidence of cardiovascular diseases in these regions along with growing per capita healthcare expenditure in countries like India and China. Eastern Europe and the Middle East and Africa (MEA) is expected to increase significantly owing to the rise in cancer incidence rate and manufacturers focusing on expansion strategies in this regions.

Peripheral Embolization Device Market: Key Players

Some key players in peripheral embolization market are Boston Scientific Corporation, Medtronic, Inc., Cook Medical, St. Jude Medical, Inc., Penumbra, Inc., Metactive Medical, Inc., Terumo Corporation and others. The companies are focused on development of new peripheral embolization devices with increased safety and ease of use.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.

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The report covers exhaustive analysis on:

• Market Segments
• Market Dynamics
• Market Size
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Value Chain

Regional analysis includes

• North America (U.S., Canada)
• Latin America (Mexico. Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
• Eastern Europe (Poland, Russia)
•  APEJ (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC, S. Africa, N. Africa)