Femtech Market to Reach $26.1 Billion, Globally, by 2033 at 15.2% CAGR: Allied Market Research
Femtech Market Growth
Allied Market Research published a report, titled, "Femtech Market by Type (Devices, Software and Services), Application (Pregnancy & Nursing Care, Reproductive Health, Pelvic & Uterine Healthcare, General Healthcare & Wellness and Others), End User (Direct to Customer, Hospitals, Clinics and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the femtech market was valued at $6.9 billion in 2023, and is estimated to reach $26.1 billion by 2033, growing at a CAGR of 15.2% from 2024 to 2033.
๐๐๐ญ ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.alliedmarketresearch.com/request-sample/A12023
Prime Determinants of Growth
The femtech market has experienced remarkable growth in recent years, fueled by a surge in interest and investment. This expansion is primarily attributed to heightened public awareness surrounding womenโs health issues, with technological advancements playing a central role in femtechโs evolution. As femtech solutions often handle sensitive and personal health data, concerns regarding privacy and security in data collection, storage, and transmission can act as significant barriers to market growth. Nevertheless, the sector continues to offer more precise, personalized, and readily accessible health solutions by leveraging cutting-edge technological innovations. These advancements include the integration of mobile applications, artificial intelligence, and machine learning, laying the groundwork for future opportunities for growth in the femtech market.
Report Coverage & Details
Report Coverage
Details
Forecast Period
2024โ2033
Base Year
2023
Market Size in 2023
$6.9 billion
Market Size in 2033
$26.1 billion
CAGR
15.2%
No. of Pages in Report
300
Segments Covered
Type, Application, End User, and Region.
Drivers
Increased awareness of women's health issues, such as reproductive health, maternity health, and menopause
Evolving cultural attitudes about women's health and wellness influencing the acceptance and use of femtech goods and services
Rising investment and funding in femtech firms and projects fueling innovation and expanding the global availability of femtech goods and services
Restraint
The strict regulatory standards and approval processes for femtech products and services posing challenges to market entry and expansion
Opportunities
Regulatory authorities and governments recognizing femtech's potential and fostering a favorable climate for its development
Collaboration with healthcare professionals, hospitals, and clinics assisting femtech firms in integrating their products into current healthcare systems, increasing access to women's health services
Based on type, the software segment is projected to have a dominant market share during the forecast period.
There is a growing demand for software-based femtech solutions, particularly femtech Apps, which are mobile applications designed to cater to women's health needs. These apps play a crucial role in promoting self-awareness, educating women about their health, and empowering them to make informed decisions about their well-being.
Based on application, pregnancy & nursing care is projected to have a dominant market share during the forecast period.
Pregnancy and nursing care solutions provide remote monitoring capabilities, enabling healthcare professionals to monitor the health and welfare of expectant mothers and recent mothers from afar. This feature is especially beneficial in situations where face-to-face appointments may be difficult or impractical, for those living in rural or isolated regions.
Based on end-user, the direct to customer segment accounted for a dominant market share in 2023.
Direct to customer models provide improved accessibility for femtech companies, granting them greater independence in delivering top-notch service and assisting their clientele. This direct interaction empowers them to utilize their rapport with customers, cultivating deeper relationships and bolstering customer allegiance. Through direct access to consumer data and feedback, manufacturers can devise and execute tailored marketing strategies that are better aligned with the preferences of their customer base.
North America is projected to have a dominant market share during the forecast period.
North America has an advanced healthcare infrastructure and a dynamic environment of technology and innovation, making it a perfect location for the establishment of femtech businesses. According to a Dealroom.co report published 2023, the United States continues to lead the world in femtech venture capital investments. Over the last five years, from 2018 to 2023, the United States has led the world in femtech investment, raising an impressive $4 billion.
Players in the Market
Clue
Glow Inc.
Natural Cycles USA Corp
Ava
Lola
Elvie
Bloomlife
HeraMED
Flo Health, Inc.
iSono Health
The report provides a detailed analysis of these key players in the global femtech market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions.
In May 2021, Mount Sinai West collaborated with the digital maternity care firm Oula. Oula patients who get prenatal, delivery, and postpartum care through the company's collaborative medical team, Brooklyn clinic, and remote care platform will now have the option to deliver their babies at Mount Sinai.
On April 16, 2024, DeepLook Medical was granted its second patent, safeguarding the distinctive radiomic data obtained from utilizing DL Precise on digital imaging.
In February 2023, Wellen, a healthtech startup based in Brooklyn, launched its healthtech platform aimed at addressing the prevalent issues of osteoporosis and osteopenia among women. The company introduced a personalized, at-home fitness program to combat these conditions.
In April 2023, Breast pump manufacturer Willow and telehealth firm SimpliFed collaborated to provide virtual support for new mothers in feeding their babies.
The report is further valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A12023
David Correa
Allied Market Research
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