Deerfield Beach, Florida Dec 27, 2019 (Issuewire.com) - Global Femtech Market Revenue Projected Around USD 50,018 Million By 2025
Femtech is a terminology that is used for diagnostic tools, software, and products & services group that makes use of technology in order to emphasize women’s health. The term encompasses the sexual welfare of women, fertility solutions, pregnancy & nursing, apps for period tracking, and reproductive health care.
Moreover, femtech largely includes any online or standard healthcare tools focusing on women’s healthcare including wearables, web-connected medical equipment, mobile applications, hygiene products, and others. Apparently, the femtech business also comprises of products like L.’s organic cotton tampons and chemical-free bioethical condoms.
According to the report, the global demand for the Femtech market was valued at approximately USD 18,290 million in 2018 and is expected to reach a value of around USD 50,018 million by 2025, at a CAGR of around 16.5% between 2019 and 2025.
The prominent surge in digital healthcare for women to steer market growth
The onset of new technologies, digital communications, and innovations is anticipated to steer the growth of the femtech industry over the forecast period. Today, there is massive awareness among the women over period detecting applications along with apps related to pregnancy, aging, fertility, menopause, childbirth, and sexual health. Additionally, the breakthroughs witnessed in the healthcare industry are predicted to steer the growth of the market over the forecast period.
Read Sample Copy Of Global Femtech Market 2019-2025
Furthermore, firms are launching software-enabled products for monitoring menstrual cycles along with devising new technologies for controlling the fertility rate in women. The renowned companies, through product influx, are creating awareness among the women about their health as well as the product implications on their health. In addition to this, huge expenditure on healthcare equipment by females is likely to leverage business growth over the forecast period. However, a low level of awareness about the new products among the female population will hinder the business growth over the forecast period. Nonetheless, massive usage of AI & machine learning tools in Femtech products will create new growth avenues for the market over the forecast period.
Digital health to lead the solutions segment over the forecast timeline
Large-scale acceptance of digital health systems by doctors along with the need for managing a chronic illness like diabetes through self-management is predicted to accelerate the growth of the digital health segment by 2025. Moreover, easy access to apps like Glooko in smartphones has made it easy for healthcare service providers to access patient data & diagnose ailments. This, in turn, will contribute remarkably towards the segmental growth over the forecast timeline.
Pregnancy & nursing care segment to dominate the application landscape by 2025 in terms of earnings
The segmental growth over the forecast timeline is credited to supportive government laws, favorable compensation policies, and large-scale consciousness among the women about their health.
North America market to garner the largest chunk of revenue gains over the forecast period
The growth of the regional market over the forecast timeline is owing to the large number of femtech firms in the U.S. concentrating on developing systems that cover most prevalent health issues such as breast & cervical cancer. Apparently, a rise in the number of startups concentrating on exploring the digital health potential & developing new female healthcare products with an aim or objective of enhancing the women’s health will boost the market expansion in the sub-continent.
Some of the key players in the market include -
Pregnolia AG, LactApp, Bloomlife, Inc., Aparito, Ava Science Inc., NaturalCycles Nordic AB, iBreve Ltd., Bonzun, Elvie, Grace.health, Niramai Health Analytix Pvt Ltd., Hera Med Ltd., and SteadySense GmbH.
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