The Global Femtech Market will create US$ 1.2 billion in sales by 2023. From 2023 to 2033, the global Femtech market is estimated to reach US$ 5.0 billion, increasing at a 15.2% CAGR. Prospects for growth are projected to continue favourable for the foreseeable future, aided by a rising working-women demographic.
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Emergence of Femtech Solutions and Technology
This Femtech market segment encompasses hardware, software, and services. As the prevalence of chronic and infectious diseases among women increases, so will the demand for better diagnosis and treatment options, propelling growth in this market.
Businesses are continually working to create innovative techniques to enhance women’s health and wellness, such as advancements in women’s health goods, which will contribute to market growth.
Inequalities between urban and rural areas, population discrepancies, and demographic issues all hinder the Femtech market. Societal expectations about women’s health, particularly menstruation, fertility, sexual well-being, and birth control, may limit market expansion further.
In developing nations, female users’ lack of knowledge about available products and applications may hinder the growth of the Femtech sector. Despite this, the growing number of Femtech companies, particularly start-ups, is making this a highly competitive field.
Because of the growing number of patients in countries such as India and China, the Asia Pacific region is likely to account for a significant percentage of the Femtech market. In the United States, there is a growing awareness of women’s health issues, particularly menstrual and fertility health, which is leading 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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