FemTech Market is Fueling Women’s Health Revolution
The femtech market refers to technology products and digital services that are designed specifically for women’s healthcare needs. This includes period trackers, fertility monitors, pregnancy and nursing care gadgets, pelvic floor toners, and other devices that aid in women’s reproductive health and wellness. Femtech provides convenient solutions to address key healthcare issues faced specifically by women such as menstrual and fertility tracking, pregnancy care, pelvic pain, incontinence, etc. The devices offer non-invasive monitoring and easy-to-use features that empower women to take control of their bodies and make informed choices related to family planning, pregnancy, and overall wellness. Thanks to rapid technological advancements, femtech products are becoming smarter and more accurate in tracking biological metrics. The growing acceptance of digital healthcare solutions and increasing focus on women’s health issues are fueling the adoption of femtech worldwide.
The Global FemTech Market is estimated to be valued at US$ 50 Billion in 2024 and is expected to exhibit a CAGR of 15% over the forecast period 2024-2030.
Key Takeaways
Key players operating in the FemTech market are Aura, Fitbit, Flo Health, Clue, Apple, Perfect, Glow, and Ovia Health.
The growing demand for health tracking and management solutions is a key driver boosting the femtech industry. Women are increasingly relying on digital tools and apps to monitor menstrual cycles, fertility signs, symptoms during pregnancy, and other health parameters. This provides useful insights into personal wellness in a convenient manner.
Many femtech companies are exploring opportunities in global markets and partnering with local players to expand their reach. The growing awareness about women’s health concerns in emerging nations is encouraging international vendors to offer tailored solutions. Several femtech startups have raised funds for enhancing their geographic presence outside Western markets.
Market Key Trends
Telehealth is emerging as a key trend in the femtech space. The pandemic has accelerated the adoption of virtual consultation platforms that enable remote monitoring of women patients and delivery of personalized care plans. Several femtech apps now offer telehealth features to book video/audio appointments with gynecologists and doctors. This allows continuous engagement with healthcare experts without physically visiting clinics. The trend is expected to transform how preventive and ongoing care is delivered to women globally.
Porter’s Analysis
Threat of new entrants: The threat of new entrants into the femtech market is moderate, as establishing a new company requires significant capital investment in R&D for new product development and manufacturing capabilities.
Bargaining power of buyers: The bargaining power of buyers in the femtech market is high. There are many players offering similar femtech products and solutions, giving customers good options and ability to negotiate on price.
Bargaining power of suppliers: Since most femtech companies rely on standard electronic and material components from various suppliers, the bargaining power of suppliers is moderate.
Threat of new substitutes: The threat of substitutes is low in the femtech market since most femtech products and solutions address women’s health issues that have limited substitutes.
Competitive rivalry: The competitive rivalry in the femtech market is high given the large number of players offering similar products and services.
Geographical regions
North America currently accounts for the largest market share in terms of value for the femtech market, driven by high women’s health awareness and growing adoption of femtech products in the region.
The Asia Pacific region is expected to be the fastest growing market for femtech over the forecast period. Countries like India, China and Japan are witnessing rising women’s health concerns coupled with increasing disposable incomes, driving higher adoption of various femtech solutions.
What Are The Key Data Covered In This FemTech Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the FemTech ‘s growth between 2024 and 2031.
:- Accurate calculation of the size of the FemTech and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- FemTech Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of FemTech vendors
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
