Allied Market Research

2024

Femtech Market

Femtech Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Application and by End Users : Global Opportunity Analysis and Industry Forecast, 2023-2032

LS : Medical Devices & Supplies

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Author's: | Roshan Deshmukh
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Women’s health technology, known as Femtech, is one of the fastest-growing and well-funded categories of digital health. Femtech generally encompasses a range of digital health software and tech-enabled service providers that cater to the specific biological needs of women. These needs span from general health and wellness to reproductive health, including fertility, pregnancy, and nursing care. Femtech sectors mostly includes maternal and child care, family planning, fertility, and menstrual cycles while other biomedical devices and applications to deal with invasive reproductive health.

Covid-19 Scenario Analysis:

Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industry is expected to witness a significant growth in the future owing to the demand for vaccine and treatment drugs for COVID-19. This in turn is expected to have a significant impact on the femetch market

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis:

With predominantly women as end users, the Femtech application market spreads across about 50% and more of the global population. The market is segmented into diagnostics, therapeutics and digital health. Largest market revenue was estimated in Digital Health. Ranging from the digital birth control to wearable breast pumps, hence unprecedented market growth is witnessed in digital innovative femtech market. This is one of the major attributors for propelling the market rate of the global femtech industry during the forecast period. In addition, the femtech application finds application in all the critical domains of women healthcare. These areas are majorly lucrative as they need attention on priority. Uterine healthcare, general health, reproductive health, pelvic, pregnancy and nursing care, are some of the most common instances belonging to this category. Furthermore, these disciplines foster the market share of the global femtech market.

Growth opportunities for Femtech market:

  • Need & development of health solutions for pregnancy care with affordable pricing models and doctors’ support.
  • Expanding reach to low-income regions such as Africa and Asia, which are also the locations with the highest female populations.
  • Harnessing innovation from the increasing number of start-ups targeting the space in Europe.
  • Meeting the unmet needs of women with culturally appropriate solutions, such as wearable devices or leveraging technologies such as
  • Reaching the previously inaccessible women customers in rural areas with digital health technologies such as smartphone apps, which would be successful because of increasing internet penetration, even in less-developed regions.

Drivers:

Rise in digital healthcare:

The innovative of femtech solutions has led to increasing market demand for embryo screening, egg freezing, fertility and other services. Furthermore, development of wearable devices to track and monitor patient’s wellbeing will increase its adoption over the coming years Accessibility to such technologically advanced devices will escalate the market growth during the analysis period.

Development of software solutions:

This segment of the femtech market covers devices, software and services. Growing incidence of chronic and infectious diseases among the female population base will surge the demand for improved diagnosis and treatment solutions, thereby propelling the segmental growth. Moreover, companies are continuously focusing on development of innovative and technological advanced techniques to improve women’s health and wellness. Improvisations in women health products such as tampons, breast pumps and pelvic floor exercise devices among other will further prove beneficial for the market expansion.

Demand for maternity care application:

Femtech has application in reproductive health, pregnancy & nursing care, pelvic & uterine healthcare, general healthcare & wellness and others. Pregnancy & nursing care market segment accounted for larger portion of market segment. Increasing demand for advanced devices and consumables utilized during pregnancy & nursing care will favour the market trends. Introduction of such advanced devices for nursing care will prove beneficial for the market progression.

Regional Analysis:

The technology has picked pace in the developing countries, for instance in Asia Pacific, femtech market has shown positive growth patterns. Initiated by Mumbai based UE Life sciences- iBreastExam is a low cost, battery powered machine that has gained popularity in Africa, ASEAN, and India. GE Healthcare's Vscan with Dual Probe to manage pregnancy has also found widespread application in Africa and India. Other Indian companies such as AIndra focus on AI based cervical screening and Niramai, a low-cost, automated portable device is used to screen breast cancer.

The Urban-rural divide, inconsistent socio-economic status of population, and demographics are determined as major market restraints. Moreover, societal norms surrounding women health, especially those related to menstruation, fertility, sexual wellness, and birth control will curb market growth.

Restrains:

  • Lack of awareness about femtech products and applications among women users may hamper the industry growth in the underdeveloped economies.
  • Growing number of femtech companies such as start-ups resulting in a highly competitive market.

Key Market Player Analysis:

Some of the notable industry players operating in the femtech market are HeraMED, Totohealth, Sustain Natural, Nuvo, Athena Feminine Technologies, Minerva, iSono Health, Sera Prognostics, BioWink, and Elvie. These market players have undertaken various strategic initiatives such as mergers and acquisitions to enhance their financial stability that will enable them to grow as prominent industry players.

For instance, in February 2018, Clue collaborated with Fitbit for providing better healthcare access to women. The collaboration enabled the company to capitalize on market opportunities and broaden its existing customer base. In May 2019, Tampax and Always, one of the leading period care brands of P&G in the industry, introduced Tampax PURE, an organic, chlorine bleach and dye tampon. This novel product launch will enhance the firm’s product offerings and strengthen its financial performance in the market.

Key Benefits of the Report

  • This study presents the analytical depiction of the femtech industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the femtech market share.
  • The current market is quantitatively analyzed  to highlight the femtech market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed femtech market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in the femtech Report

  • Who are the leading market players active in the femtech market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
  • What is "femtech"?
  • What is "femtech" Market prediction in the future?
  • Who are the leading global players in the "femtech" Market?
  • What are the current trends and predicted trends?
  • What are the key benefits of the "femtech" Market report?

Femtech Market Report Highlights

Aspects Details
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By Type
  • Devices
  • Software
  • Services
  • Others
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By Application
  • Reproductive health
  • Pregnancy & nursing care
  • Pelvic & uterine healthcare
  • General healthcare & wellness
  • Others
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By End Users
  • Direct-to-consumer
  • Hospitals
  • Diagnostic centres
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
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Key Market Players

Athena Feminine Technologies, Sustain Natural, Nuvo, iSono Health, Sera Prognostics, HeraMED, BioWink, Minerva, Elvie, Totohealth

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Femtech Market

Global Opportunity Analysis and Industry Forecast, 2023-2032