Femtech Market (By Product: Wearable Devices, Mobile Applications; By Service: Diagnostics, Monitoring, Therapeutic; By Application: Reproductive health, Pregnancy and nursing care, General Healthcare, Pelvic and uterine health care; By End User: Diagnostic centers, Surgical centers, Hospitals, Fertility clinics, Direct to consumer)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The global Femtech market size was estimated at USD 51 billion in 2021 and is expected to surpass around USD 103 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 8.12% during the forecast period 2022 to 2030.

Key Takeaways:

  • The U.K. femtech market is estimated to reach at a CAGR of 14.3% from 2022 to 2030.
  • North America region where are share of about 38.5% in the past do today increased digitalization in the healthcare sector.
  • By product, the wearable devices segment held 79.8% revenue share in 2021.
  • By end user, the diagnostic services segment is expected to drive growth at a CAGR of 13.5% between 2022 to 2030.

 Growing health consciousness amongst the female population, normalizing & proactively addressing women’s health issues will contribute to the high market growth. Increasing disposable income, digital literacy, smartphone penetration, internet connectivity, digital health infrastructure, and the emergence of startups focusing on women’s health present lucrative opportunities to new and existing market participants. The growing availability of smart wearable devices is contributing to market development and growth. Health tech developers and investors are capitalizing on untapped opportunities and funding innovative product development strategies to address women’s health issues.

The industry is not only limited to reproductive health and diversifies to include other healthcare problems such as pregnancy monitoring, pelvic care, cervical cancer, mental health, general health & wellness, and breast cancer. Key participants are capitalizing on the opportunities and are developing solutions to cater to the growing needs of women’s healthcare.

The increasing adoption of smartphones by consumers is driving the growth of various women’s health applications in the market. Furthermore, continuous improvement in network infrastructure and growing network coverage are boosting the demand for femtech services. Mobile network operators view women’s health technology space as an opportunity for investment owing to the growing adoption of smartphones by users and raising awareness about women’s health issues.

Furthermore, a favorable regulatory environment and increase in regulatory approvals of various digital applications addressing conventional women’s health issues, such as menstruation tracking, pregnancy management, & fertility management, are expected to contribute directly to growth. The wearables segment dominated in 2021 owing to the growing health consciousness and awareness amongst female users, increasing prevalence of women’s health issues, growing adoption of value-based care services, and integration of advanced features such as predictive analytics, gamification, cloud synchronization, and longer battery life. Data generated from wearable devices can be used to under female health parameters more closely and provide female users with data-driven insights about their health & wellbeing.

On the other hand, mobile apps are expected to grow lucratively in upcoming years owing to the growing trend of precautionary healthcare and rapidly growing smartphone penetration supported by improving internet connectivity. With advanced technological integration, such as AI and data science, these healthcare applications provide actionable insights based on the data entered, enabling women to make informed decisions regarding their health & wellness.

Furthermore, the physicians and doctors can also refer to the data, consequently bridging the gap between the healthcare providers and the patients, further enabling access to care virtually, timely, & in remote areas.

Report Scope of the Femtech Market 

Report Coverage

Details

Market Size in 2022

USD 55.14 Billion

Market Size by 2030

USD 103 Billion

Growth Rate from 2022 to 2030

CAGR of 8.12%

Base Year

2021

Forecast Period

2022 to 2030

Segments Covered

Product, Service, Application, End User, Geography

Companies Mentioned

Flo Health, Inc, Withings, Natural Cycles USA Corp, Glow, Inc, Clue by Biowink GmbH, Google, Inc, Apple, Inc, Fitbit, Inc

 Product Type Insights

The wearables segment holds the largest market share of 79.8% owing to the growing health consciousness among female users and the increasing prevalence of women’s health issues are boosting the demand for wearables in the market. The shifting trend toward value-based care and a consumer-led model is driving growth. Moreover, wearable devices are evolving and working as an essential tool, as the population is focusing more & more on self-health care, wellness, and digitalization. Seamless smartphone integration, longer battery life, and wireless connectivity are some of the key features that female users are seeking in wearable devices.

According to Pew Research Center, as of June 2019, around 21% of individuals in the U.S. used a wearable device. Rapid advancements in the design of these wearables are expected to propel their demand. Cloud synchronization, predictive analytics, and gamification are some of the major developments in wearable technology.

On the other hand, mobile apps are anticipated to register the fastest growth rate over the forthcoming years owing to the developing trend of precautionary healthcare and growing smartphone penetration coupled with improving internet connectivity is driving consumer adoption of smartphone health applications in the market. Continuous improvement in network infrastructure and increase in coverage are propelling the demand for women’s health mobile applications. Mobile network operators view health apps as a beneficial opportunity for investment with the growing adoption of smartphones, increasing demand to address unmet needs (women’s health gaps), rising health consciousness, and growing awareness about health & well-being, especially among women.

The availability of low or no-cost health applications addressing multiple women’s health issues, such as period cycle tracking, fertility & ovulation management, pregnancy care management, and sexual wellness, has increased the number of free trials of several apps by female consumers. Furthermore, providing features such as scheduling pill reminders, alerts, remote monitoring, medical reference, diagnostics, and e-Learning has contributed to the growth in the adoption of mobile applications.

Application Insights

On the basis of application, the reproductive health segment dominated the market with largest market share in 2021. In most of the countries reproductive health is of prime importance amongst the women. Increased add option of various softwares and services help in the treatment of various conditions associated with the reproductive health. New products are offered in the market that shall be instrumental in improving the conditions of various untreated diseases. Also, the entry of various startups in the market shall help in offering new products

End User Insights

On the basis of the end user, diagnostic centers hit the highest revenue share in 2021. There is a growing demand for the detection of various infectious diseases as well as the chronic diseases due to which the market is expected to grow well during the forecast period. There is a growing demand for the telehealth solutions which I have helped in efficient diagnosis through the homes of the patients. During the pandemic the telehealth solutions war and greater demand as it helped in diagnosing various diseases in the patients even during the times of restricted movement and social distancing restrictions.

The direct-to-customer segment held revenue share of 31% in 2021 and growing at a CAGR of 12.5% from 2022 to 2030.

Regional Insights

North America accounted for the largest market share of 38.5%. North America has witnessed rapid digitalization of healthcare owing to various factors such as growing smartphone penetration as well as rising demand for health-related smart solutions. According to Mobile Economy North America 2021 estimates, the number of mobile internet users in North America in 2020 was 296 million, and it is estimated that the number will reach 323 million by 2025. Increasing adoption of smart wearable devices and mobile health applications for health tracking coupled with growing health consciousness & awareness and rising transition toward preventive care is expected to drive the growth of the North American femtech market. In addition, favorable government initiatives and increasing healthcare IT spending & advancing digital health infrastructure are among the factors driving the market growth.

On the other hand, Asia Pacific is anticipated to register the fastest growth rate over the forthcoming years. Asia Pacific femtech market is driven by increased demand for effective health technology coupled with growing digital infrastructure, increasing smartphone & wearable devices penetration, improving internet coverage, and growing health consciousness. According to The Mobile Economy 2020 by GSMA, unique mobile subscriptions in the Asia Pacific reached 3.9 billion by the end of 2019 and are estimated to reach 3.8 billion by 2025. It has been estimated that by 2025, the number of mobile internet users in the Asia Pacific will be 2.9 billion, as compared to 3 billion in 2019. Government agencies are making efforts to promote advancements in mobile health technology by providing improved 3G & 4G network infrastructure & digital health technology roadmaps and formulating policies that would attract investments in the region.

Some of the prominent players in the Femtech Market include:

  • Flo Health, Inc
  • Withings
  • Natural Cycles USA Corp
  • Glow, Inc
  • Clue by Biowink GmbH
  • Google, Inc
  • Apple, Inc 
  • Fitbit, Inc

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Femtech market

By Product

  • Wearable Devices
  • Mobile Applications
    • Fitness & Nutrition
    • Menstrual Health
    • Fertility Management/ Assisted Reproductive Technology Apps
    • Pregnancy Tracking & Postpartum Care
    • Menopause
    • Disease Management
    • Others

By Service

  • Diagnostics
  • Monitoring
  • Therapeutic

By Application

  • Reproductive health
  • Pregnancy and nursing care
  • General Healthcare
  • Pelvic and uterine health care

By End User

  • Diagnostic centers
  • Surgical centers
  • Hospitals
  • Fertility clinics
  • Direct to consumer

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Key Benefits for Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Femtech industry analysis from 2022 to 2030 to identify the prevailing Femtech industry opportunity.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the global Femtech industry segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global Femtech industry trends, key players, market segments, application areas, and market growth strategies.