As per an analysis by FMI, the global Femtech Market revenue is estimated to reach a valuation of US$ 940 Mn in 2021. Owing to increasing awareness in terms of personal care, reproductive health, and genital hygiene among women, the market for femtech is anticipated to total US$ 3.8 billion by 2031, expanding at a CAGR of 15% during the forecast period 2021 to 2031.
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Rising incidence of chronic and infectious diseases among the female population is a primary factor, driving the market growth. According to a report by the World Health Organization (WHO), around 311,000 women fatalities were recorded due to cervical cancer in 2019. While more than 1 million incidences of sexually transmitted infections (STIs) are recorded each day, across the globe.
Increasing prevalence of cancer, STIs, menstrual, and chronic diseases among the female population coupled with ongoing technological developments and digitalization in Femtech diagnosis & monitoring solutions is expected to create lucrative growth opportunities for the market.
In terms of services, the diagnostics segment is expected to dominate the global femtech market. Thanks to the advent of artificial intelligence in diagnostics equipment and rising prevalence of female associated diseases, the segment is likely to exhibit demand growth at a CAGR of 13.3% during the assessment period.
“Leading service providers are focusing on providing direct-to-customer services using digital and online portals to capitalize on the increasing demand for diagnostics and monitoring solutions owing to growing awareness regarding female health,” says the FMI analyst.
Key Takeaways from Femtech Market Survey
- With a valuation of US$ 357 million, the U.S. is expected to lead the market in North America, accounting for nearly 93% of the regional market share.
- In Europe, the U.K. is estimated to remain a dominant market, exhibiting growth at a CAGR of more than 14% over the assessment period.
- Owing to the high presence of menstrual disorders cases, India is likely to register more than 45% of sales in the South Asia femtech market by 2031.
- China is anticipated to lead the East Asia market, accounting for over 50% of the regional value share owing to the presence of a vast consumer base.
- Direct-to-customer segment is projected to expand at a CAGR of 12.9%, contributing a revenue share of above 30% in the femtech market through 2031.
- Growing awareness regarding personal health & hygiene among women is spurring the sales of femtech solutions.
- Ongoing technological developments in diagnostics and monitoring devices are expected to drive the market.
- High cost of diagnostics is a key factor restraining the growth of the femtech market.
- Lack of skilled professionals required for diagnostics is restraining the market growth.
- Lack of awareness regarding personal health and hygiene among women in some remote sectors is hampering the growth of the femtech market.
Key companies operating in the femtech market have adopted the strategies such as launching new products and engaging into strategic collaborations and agreements with leading medical institutes and universities associate with clinical developments to offer advance healthcare solution for women. For instance,
- In 2019, Bloomlife, an American maternal health company announced a research collaboration with an international research & development organization, Imec to monitor fetal heart rates through wearable ECG chips. The collaboration has expectantly given rise to enhanced monitoring capabilities in maternity care.
- In June 2021, Eastra Health, the world’s first female-focused biotech company has developed first psychedelic-derived medicines specifically for women for conditions such as menopause and PMS.
Some of the key players operating in the femtech market profiled by FMI are:
- Aparito Limited
- Bonzun Health Information AB
- Ava Science Inc.
- Grace Health
- Natural Cycles Nordic AB
- Hera Med Ltd.
- Niramai Health
- NURX Inc.
- SteadySense GmbH
- Pregnolia AG
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More Valuable Insights on Femtech Market
FMI, in its new report, offers an unbiased analysis of the global femtech market, analyzing forecast statistics through 2021 and beyond. The study reveals growth projections on in the femtech market with detailed segmentation:
- General Health and Wellness
- Maternity Care
- Menstrual Health
- Pelvic and Uterine Healthcare
- Cancer and Chronic Disease
By End User
- Surgical Centers
- Fertility Clinics
- Diagnostics Centers