Femtech Market Growth – at a CAGR of 15.6% During Forecast Period 2019-2027
Increasing investments by public and private organizations to develop advanced femtech devices, rising penetration of internet and smartphones and increasing health problems in pregnant women are key some key factors expected to drive global market revenue growth
Emergen Research has published its latest report titled, “Femtech Market By Type (Devices, Software, Services), By End-Use (Direct-to-Consumer, Hospitals, Fertility Clinics, Surgical Centers, Diagnostic Centers), By Application (Reproductive Health, Pregnancy & Nursing Care, Pelvic & Uterine Healthcare), and By Region Forecasts to 2027”
According to Emergen Research, the global femtech market size was USD 18.75 billion in 2019 and is expected to reach USD 60.01 billion in 2027 and register a revenue CAGR of 15.6% during the forecast period, 2020-2027.
Market Dynamics:
Femtech, also called female technology refers to software, products and services, diagnostic tools used for supporting women’s health. This concept of digital women’s health is comparatively novel and is rapidly gaining traction owing to increasing adoption of internet-connected devices, wearable devices, mobile applications, and hygiene products. It usually includes pregnancy and nursing care, reproductive system care, pelvic & uterine care, fertility solutions, and period tracking applications. Many companies offer a wide range of internet-enabled medical devices that are compatible with mobile apps to track required data.
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Factors such as increasing prevalence of chronic and infectious diseases in female population worldwide, increasing number of health problems in women, rising adoption of digital healthcare, and rising awareness about early detection and management of diseases are expected to fuel market growth during the forecast period. In addition, introduction of advanced nursing care devices, and increasing investments to improvise existing women's health products to improve patient care are expected to drive overall market revenue growth going ahead. However, factors such as lack of awareness about femtech products among women in remote areas, community taboos surrounding health issues in women are expected to hamper femtech market growth during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Devices Segment to Account for Largest Revenue Share:
The devices segment is expected to account for largest revenue share over the forecast period. Increasing prevalence of chronic and infectious diseases in women, increasing number of product approvals, and rising adoption of digital platforms and wearable devices are expected to drive revenue growth of the segment during the forecast period.
Fertility Clinics Segment to Register Steady Revenue Growth:
The fertility clinics segment is expected to register steady revenue growth between 2020 and 2027 owing to increasing concerns regarding reproductive health, rising awareness about femtech products and services, and availability of advanced products and tools for seamless service and patient care.
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Asia Pacific to Register Rapid Revenue CAGR:
Asia Pacific market revenue is expected to register a rapid revenue CAGR over the forecast period owing to increasing prevalence of various infectious and chronic diseases, rapidly expanding population in India and China, increasing awareness about women's health care, and rising adoption of digital platforms for remoting patient monitoring. In addition, increasing government initiatives, rising adoption of high-end technology products, and increasing investments in research and development activities are expected to fuel Asia Pacific market growth during the forecast period.
Major Companies in the Market Include:
- Athena Feminine Technologies
- Sustain Natural
- Sera Prognostics
- HeraMED
- iSono Health
- Totohealth
- Minerva
- Nuvo
- Elvie
- BioWink
For the purpose of this report, Emergen Research has segmented into the global femtech market on the basis of technology, material, application, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Devices
- Software
- Services
End Use Outlook (Revenue, USD Billion; 2017-2027)
- Direct-to-Consumer
- Hospitals
- Fertility Clinics
- Surgical Centers
- Diagnostic Centers
Application Outlook (Revenue, USD Billion; 2017-2027)
- Reproductive Health
- Pregnancy & Nursing Care
- Pelvic & Uterine Healthcare
- General Healthcare & Wellness
- Others
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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