Global Femtech Market: 5 potential trends boosting the industry demand through 2025
The rising prevalence of infectious and chronic diseases amongst a large pool of female population is expected to offer a positive impetus to the demand for effective treatment, paving way for the development of femtech market over the span of 2019 to 2025. It has been reported that unhealthy lifestyles and diet are emerging as pressing challenges for the degrading health of women across various economies of the world.
In fact, it has been claimed that cardiovascular disease is expected to serve as a leading cause of death for women in the United States, with about 48 million women living or being at risk of heart disease. In addition to this, as per the reports by World Bank Data, the prevalence of HIV among females in South Africa, in the age group of 15 to 24 was projected to be somewhere around 10.2% in 2017.
Such daunting statistics have accelerated the demand for devices and solutions that look toward enhancing the life cycle of women while offering them an assurance of peaceful and disease-free living. That said, a report by Global Market Insights, Inc., has predicted that global femtech market would account for a valuation of USD 48 million by 2025 end, based on the below mentioned trends:
Rising traction towards femtech devices
Femtech is a term that is generally given to products, software, and technologies that look toward enhancing the health and wellbeing of women worldwide. In this regard, it would be crucial to state that femtech devices offer digital assistance to women regarding fertility solutions, period tracking, pregnancy, and reproductive system health care. Looking into its rising popularity, the device segment has accounted for a share of $8.5 billion in 2018 and is progressing toward a full scale development. Besides, various startups and companies are laying immense focus on bridging the gap left by major tech companies in introducing digitally advanced femtech products in the global markets that are particularly aimed at women’s health.
Ongoing efforts undertaken by industry majors
Given that several new entrants and companies partaking in femtech market space are going nine yards for the production and development of novel products in the field, it would be essential to mention the innovative step taken by OCON Healthcare, an Israeli femtech start-up. As per news reports, the company has barely announced introducing a next-gen birth control that can prevent pregnancies and also being helpful in treating abnormal uterine bleeding.
Named IUB Ballerine, the novel IUD is deemed to be a hormone-free contraceptive solution that stands to be a revolutionary product in the realm of intra-uterine devices. What makes this device differentiable amongst its counterparts, is its small size. As per official sources, the product is nearly 30% to 50% smaller than conventional IUDs and is already in use across 30 countries.
Burgeoning femtech market demand for reproductive health management
Femtech solutions or devices are generally largely preferred for analyzing and managing reproductive health in women. As a matter of fact, estimates have claimed that the reproductive health segment is anticipated to depict a growth rate of 15 per cent through 2025. This is can be ascribed to the rising awareness about women’s health and wellbeing across some of the backward economies of the world. It is no surprise that there are a lot of stigmas still present across a woman’s menstrual cycle and menstruation, and the topic is generally overlooked. However, the evolution of such solutions has now compelled various companies to come out strong to develop femtech devices so as to ensure the proper health of the women in rural areas.
To access sample pages of this report titled, “Femtech Market Size By Type (Devices, Software, Services), By Application (Reproductive Health, Pregnancy & Nursing Care, Pelvic & Uterine Healthcare, General Healthcare & Wellness), By End-use (Direct-to-consumer, Hospitals, Fertility Clinics, Surgical Centers, Diagnostic Centers), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents, please click on the link below:
Huge patient pool across Asia Pacific that calls in for accurate femtech devices
Speaking of diverse regions making use of femtech devices, it is noteworthy to state that Asia Pacific has emerged as a remunerative growth ground for overall femtech market over the recent years, mainly due to the large patient pool in nations like China, India, and Japan. In fact, the region accounted for a revenue share of 22% in 2018. The growth predominantly comes from expanding government support and elevating awareness regarding women health across the above-mentioned economies.
Increased use in hospitals
With an estimated growth rate of 16% over the foreseeable time frame, hospitals have emerged as a secure and potential end-user segment for carrying out treatment procedures associated with woman’s health. A fundamental reason behind the growing preference of these healthcare settings is the robust availability of emergency facilities, skilled healthcare technicians, and well-established healthcare infrastructure.
Needless to mention, hospitals are also equipped with highly advanced technology and equipment that serve as a base for most of the surgeries being carried worldwide. Besides, the introduction to favorable reimbursement policies for the procedures performed in hospitals would further augment the patient visits, adding to the segmental growth.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.