FemTech Global Market to Exhibit Growth Significantly at a CAGR of ~14% by 2028 | DelveInsight

New York, USA, July 11, 2023 (GLOBE NEWSWIRE) — FemTech Global Market to Exhibit Growth Significantly at a CAGR of ~14% by 2028 | DelveInsight

The global FemTech market is predicted to surge owing to the adoption of digital health solutions, advancements in artificial intelligence and virtual assistance, growth in investments and funding, growing female awareness of personal health and hygiene, rising infectious diseases among women, and large investments made by the government and other organizations, among others.

DelveInsight’s FemTech Market Insights report provides the current and forecast market analysis, individual leading FemTech companies’ market shares, challenges, FemTech market drivers, barriers, trends, and key market FemTech companies in the market.

Key Takeaways from the FemTech Market Report

• As per DelveInsight estimates, North America is anticipated to dominate the global FemTech market during the forecast period. 
• Notable FemTech companies such as HeraMED, Sera Prognostics, iSono Health, Inc., Flo Health Inc., NUVO Inc., Natural Cycles USA Corp, Athena Feminine Technologies, Inc., NUROKOR LIMITED, Canopie, Univfy Inc., Glow Inc., Clue by Biowink GmbH, Oura Health Oy., Ava, Laboratory Corporation of America® Holdings, Baymatob Operations Pty. Ltd., Expectful, Evofem Biosciences, Inc., March Inc., Syantra Inc., and several others, are currently operating in the FemTech market.
• In November 2022, London-based accelerator FemTech Lab launched an innovation space for the FemTech community. The FemTech Hub is the first physical innovation hub dedicated to women’s health, especially.
• In June 2022, companies in Japan introduced “Femtech” or “Female technology,” under which attention is being paid to the health of female employees. This initiative was undertaken by the Ministry of Economy, Trade, and Industry in Japan.
• In April 2022, a femtech startup, Conceive, received USD 3.7 million in funding that would be used for its outcomes-oriented fertility solution.

To read more about the latest highlights related to the FemTech market, get a snapshot of the key highlights entailed in the Global FemTech Market Report

FemTech Overview

Women’s health technology, or Femtech, is one of the most rapidly growing and well-funded areas of digital health. Femtech is a broad term that refers to a variety of digital health applications and tech-enabled service providers that cater to the biological needs of women. These requirements range from basic health and wellness to reproductive health, which includes fertility, pregnancy, and nursing care. Femtech industries primarily encompass mother and child care, family planning, fertility, and menstrual cycles, as well as other biomedical devices and applications dealing with invasive reproductive health.

FemTech Market Insights

North America is expected to account for the highest proportion of the global FemTech market in 2023, out of all regions. Factors such as the high prevalence of cancer among women, the rising incidence of lifestyle-related ailments, the widespread acceptance of technologically improved goods, and others are projected to contribute to the growth of the North American femtech market. Furthermore, the region’s target population’s high disposable income, advanced healthcare infrastructure, and increased awareness of FemTech goods and services aided FemTech market expansion.

In addition to the factors described above, strategic activities such as product launches and approvals, mergers, acquisitions, collaborations, investments, and others contribute to promote regional product demand. For example, in August 2022, a US-based femtech business received USD 3.2 million in seed funding in a round led by Thiel Capital with a fitness and wellness pitch that intends to connect women to the hormonal phases of their menstrual cycle for physical and emotional gain.

To know more about why North America is leading the market growth in the FemTech market, get a snapshot of the FemTech Market Outlook 

FemTech Market Dynamics

The FemTech market is expanding due to a variety of factors, one of which is the increasing need for digital technology and the adoption of these technical services by individuals. In recent years, internet and smartphone use has increased across all demographic categories. The primary goal of FemTech technology is to address the ailments and demands of women all over the world. As a result of the use of femtech technology to better understand and diagnose women’s problems, there is a considerable demand for FemTech services. The FemTech market goods have been fuelled by how digital technology is being used to manage women’s health in various areas.

Furthermore, increased government and other public and private sector investments will drive the FemTech market demand. In addition, the growth in infectious disorders among women in recent years has created tremendous demand for femtech products and services, as femtech products and services may assist manage, treat, and diagnose infectious diseases. 

However, cybersecurity and privacy concerns, and a lack of understanding regarding FemTech products and applications in underdeveloped countries, may limit the FemTech market’s growth.

Additionally, during the COVID-19 pandemic, the FemTech market was greatly disrupted. The sale of femtech collapsed during the early stages of the pandemic due to the installation of severe lockdown rules, as well as disruptions in manufacture and supply. Furthermore, the pandemic’s breakout resulted in the cancellation of outpatient consultations for the diagnosis, treatment, and management of different reproductive and gynecological diseases. However, with the increasing use of telehealth services in the healthcare business and the availability of many femtech items via e-commerce, demand for femtech has risen dramatically. As a result of the unexpected increase, industry participants concentrated on strategic initiatives to strengthen their competitive edge in the market, bringing the FemTech market back on track. As a result, the aforementioned factors fueled demand for FemTech devices and services during the pandemic and are expected to do so in the coming years.

Get a sneak peek at the FemTech market dynamics @ FemTech Market Dynamics Analysis

FemTech Market Assessment

• FemTech Market Segmentation
  • FemTech Market Segmentation By  Type: Devices, Software, and Services
  • FemTech Market Segmentation By  Application: Reproductive Health, Pregnancy & Nursing Care, Pelvic & Uterine Healthcare, General Healthcare & Wellness, and Others
  • FemTech Market Segmentation By  End User: Hospitals, Fertility Clinics, Diagnostic Centers, and Others
  • FemTech Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
• Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View

Which MedTech key players in the FemTech market are set to emerge as the trendsetter explore @ FemTech Companies 

Table of Contents 

Interested in knowing the FemTech market by 2028? Click to get a snapshot of the FemTech Market Trends

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