SAN FRANCISCO, May 11, 2022 /PRNewswire/ — The global femtech market size is expected to reach USD 13.1 billion by 2030 and is expected to expand at a CAGR of 11.1% during the forecast period, according to a new report by Grand View Research, Inc. Rising number of women’s health issues and growing health consciousness indicates the growth potential of the market.
Key Insights & Findings from the report:
- The market size is anticipated to be valued at USD 13.1 billion by 2030, owing to the increasing digital literacy amongst female users, increasing smartphone penetration & improving internet connectivity. Growing health consciousness amongst female users and normalizing women’s health issues.
- Wearables accounted for the largest revenue market share of 79.5% owing to seamless smartphone integration and improving wireless connectivity.
- North America dominated the market and accounted for the largest revenue share of 38.3% owing to improving digital health infrastructure, rising healthcare IT expenditure, growing smartphone integration, and the emergence of startups.
Read 153-page market research report, “Femtech Market Size, Share & Trends Analysis Report By Product Type (Wearable, Mobile Apps), By Region, And Segment Forecasts, 2022 – 2030“, published by Grand View Research.
Femtech Market Growth & Trends
The industry is not only limited to reproductive health and diversifies to include other healthcare problems such as pregnancy monitoring, pelvic care, cervical cancer, mental health, general health & wellness, and breast cancer. Key participants are capitalizing on the opportunities and are developing solutions to cater to the growing needs of women’s healthcare.
The increasing adoption of smartphones by consumers is driving the growth of various women’s health applications in the market. Furthermore, continuous improvement in network infrastructure and growing network coverage are boosting the demand for femtech services. Mobile network operators view women’s health technology space as an opportunity for investment owing to the growing adoption of smartphones by users and raising awareness about women’s health issues.
Furthermore, a favorable regulatory environment and increase in regulatory approvals of various digital applications addressing conventional women’s health issues, such as menstruation tracking, pregnancy management, & fertility management, are expected to contribute directly to growth. The wearables segment dominated in 2021 owing to the growing health consciousness and awareness amongst female users, increasing prevalence of women’s health issues, growing adoption of value-based care services, and integration of advanced features such as predictive analytics, gamification, cloud synchronization, and longer battery life. Data generated from wearable devices can be used to under female health parameters more closely and provide female users with data-driven insights about their health & wellbeing.
On the other hand, mobile apps are expected to grow lucratively in upcoming years owing to the growing trend of precautionary healthcare and rapidly growing smartphone penetration supported by improving internet connectivity. With advanced technological integration, such as AI and data science, these healthcare applications provide actionable insights based on the data entered, enabling women to make informed decisions regarding their health & wellness.
Furthermore, the physicians and doctors can also refer to the data, consequently bridging the gap between the healthcare providers and the patients, further enabling access to care virtually, timely, & in remote areas.
Femtech Market Segmentation
Grand View Research, Inc. has segmented the global femtech market report based on the product type, and region:
Product Type Outlook (Revenue, USD Million, 2017 – 2030)
- Mobile Apps
- Fitness & Nutrition
- Menstrual Health
- Fertility Management/ Assisted Reproductive Technology Apps
- Pregnancy Tracking & Postpartum Care
- Disease Management
Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
List of Key Players in the Femtech Market
- Natural Cycles USA Corp
- Flo Health, Inc
- Clue by Biowink GmbH
- Glow, Inc
- Google, Inc.
- Apple, Inc.
- Fitbit, Inc.
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Browse through Grand View Research’s Healthcare IT Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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