FemTech Market Size, Share & Trends Analysis Report By Type (Devices, Software), By Application (Pregnancy & Nursing Care, Reproductive Health & Contraception), By End-use, By Region, And Segment Forecasts, 2024 - 2030

FemTech Market Size, Share & Trends Analysis Report By Type (Devices, Software), By Application (Pregnancy & Nursing Care, Reproductive Health & Contraception), By End-use, By Region, And Segment Forecasts, 2024 - 2030

FemTech Market Growth & Trends

The global FemTech market size is anticipated to reach USD 97.25 billion by 2030, expanding at a CAGR of 16.30% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rising number of women’s health issues and growing health consciousness indicates the growth potential of the market.

The increasing awareness about health among women and the proactive approach to addressing women's health issues will lead to significant market growth. Factors such as rising digital literacy, disposable income, widespread smartphone and internet use, digital health infrastructure, and the emergence of startups focusing on women's health are creating lucrative opportunities for both new and existing market players. The availability of smart wearable devices is also contributing to market development and growth. Health technology developers and investors are taking advantage of previously untapped opportunities and funding innovative product development strategies to address women's health issues.

Furthermore, the strategic initiatives by the major market players are anticipated to increase market growth during the forecast period. For instance, in June 2022, Flo Health launched Flo for Business, an inclusive strategy focused on women's health for employees. This new employee benefit provides comprehensive, science-based guidance on various reproductive health issues at every stage of life. The introduction of women's health apps aimed at educating and empowering employees to monitor their menstrual cycles, fertility, and overall reproductive health is expected to increase the adoption of such apps, thereby boosting the growth of the market.

FemTech solutions received significant exposure and witnessed a dramatic adoption rate by the healthcare fraternity and female users in maintaining lifestyles and understanding their bodies better. According to a study published in the Maternal and Child Health Journal in 2021, it stated approximately 77.9% of female respondents were using pregnancy care management apps during the pandemic. Market players are constantly focusing on their strategic initiatives to expand their competitive edge in the market. In addition, as per an article published in Fierce Healthcare, the FemTech industry attracted high investments in 2020. The digital health startups focused on women witnessed an increase in funding by around 105% in 2020. Hence, the COVID-19 pandemic impacted the market growth, and the market is estimated to witness an upward trend in the post-pandemic period.

FemTech Market Report Highlights

• In terms of type, the devices segment dominated the market with a revenue share of 33.29% in 2023. This dominance reflects the increasing reliance on advanced medical devices tailored specifically for women's health needs, driven by rapid technological advancements in diagnostics and treatment options
• Based on the application, pregnancy and nursing care segment accounted for the largest revenue share in 2023. This growth is attributed to growing recognition of the importance of maternal health, which has led to a greater demand for tailored FemTech solutions that address specific health needs during pregnancy and nursing
• Based on the end-use, direct to consumer segment accounted for the maximum revenue share in 2023. The growth for the direct-to-consumer segment is expected to remain strong, with continuous innovations and increased funding for FemTech solutions that empower women to manage their health more effectively
• North America dominated the market in 2023, owing to improving digital health infrastructure, rising healthcare IT expenditure, growing smartphone integration, and the emergence of startups
• Flo is the most downloaded/subscribed app, with over 200 million downloads by 2021. This app majorly caters to period & fertility tracking
• Natural Cycles ad Clue are a few FDA approved digital contraceptive apps that use Bayesian modeling for the prediction of the most fertile days (The high-risk window)
• In February 2023, an AI-based chat application Ema app, previously called SocialMama inspired by ChatGPT has been released by a women's health start-up in Texas. Such advancements help in the increased adoption of FemTech apps, driving market growth in the region

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