Femtech Market: Current Analysis and Forecast (2022-2028)

Femtech Market: Current Analysis and Forecast (2022-2028)

Global Femtech Market is expected to grow at a significant rate of around 12% during the forecast period. The global femtech market is anticipated to witness an uptick with the development of social society leading to changes in diet and other lifestyles. This along with the rapidly growing female population across the globe is causing an increase in the prevalence of certain diseases among women such as menstrual disorders, cancer, osteoporosis, infertility, menopause, and polycystic ovarian syndrome (PCOS). As per the Centers for Disease Control and Prevention, PCOS is one of the most common causes of female infertility, affecting 6% to 12% (as many as 5 million) of US women of reproductive age. These glaring statistics are expected to positively impact the femtech market in the forthcoming years. Furthermore, the advancement in technology, favourable government initiatives in some countries, rising awareness levels about health and wellness coupled with the shifting focus of women towards preventative healthcare are also some of the factors driving the growth of the femtech market globally.

Sera Prognostics, HeraMED, Athena Feminine Technologies, Inc., Flo Health, Inc, Natural Cycles USA Corp, Fitbit, Inc, Totohealth, Minerva Surgical, Inc., iSono Health, Biowink GmbH are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new and advanced applications.
 
Insights Presented in the Report
"Amongst type, devices category to witness higher CAGR during the forecast period”

Based on type, the femtech market is segmented into devices, software, services and others. The devices segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe owing to rising health consciousness & awareness coupled with the growing adoption of wearable devices among women. Furthermore, the shifting trend toward value-based care and the rising focus on a consumer-led model are also some of the factors driving growth.
"Amongst application, reproductive health segment to hold a significant share in the market in 2020”

Based on application, the femtech market is divided into reproductive health, pregnancy & nursing care, pelvic & uterine healthcare and general healthcare & wellness. The reproductive health segment grabbed a significant market share in 2020 and is expected to grow considerably during the forecast period. The growth of this segment can be attributed to the increasing prevalence of reproductive health issues and growing awareness among females to maintain their reproductive health.
"Amongst end-user, direct-to-consumer segment to hold a significant share in the market in 2020”

Based on end-users, the market is fragmented into direct-to-consumer, fertility clinics, surgical centers, and others. In 2020, the direct-to-consumer segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast owing to the growing awareness among consumers and ease of access to various applications, software, and others directly to consumers.
"North America to hold a significant share in the market”

North America is anticipated to grow at a substantial CAGR during the forecast period. The major factors such as well-established healthcare infrastructure and rapid digitalization of healthcare owing to various factors such as increasing smartphone penetration in the region as well as rising demand for health-related smart solutions among Americans. For instance, according to the Mobile Economy Report, smartphone adoption is growing and by the end of 2021, smartphones accounted for 83% of mobile connections in North America.

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