PUNE, India, Sept. 16, 2019 /PRNewswire/ -- With predominantly women as end users, the Femtech application market spreads across about 50% of the global population. 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. The market is estimated to grow at a market value of over USD 53 billion by the end of 2027.
The United Statesfemtech market is anticipated to reach $50 billion by 2025. A wide array of U.S. based companies is centering mainly on technology applications, prioritizing on prominent health problems such as cervical cancer and breast cancer. It has also been reported recently that the growing trend of virtual reality helps in boosting women health. Awareness among healthcare companies about the unfair representation of women share in the field also plays to the market's advantage. This has thus enhanced the number of companies and start-ups focusing on digital health in women's health, thus fostering the importance of female technology.
The agenda of Europe's health tech innovation festival 2018- Giant Health Event, centered on the development of online apps especially designed to elevate women's health. Such initiatives insinuate on the increasing awareness and prominence, in addition to affirmative interest in the Femtech market. Recently adopted schemes of UK's National Health Services have also highlighted the organization's advocacy to technology advancements. NHS' collaboration with femtech company- Elvie has added support for women undergoing stress urinary incontinence (SUI). Furthermore, through the NHS supply chain, the device which costs around £169 will be available free of cost to patients. These factors will supplement in augmenting the market share of the femtech industry during the forecast period.
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.
Key findings of the report:
AI inventions and partnerships with government healthcare providers has stimulated women healthcare to become more practical, extremely invasive, and less intrusive.
Male-led venture capital firms are drawing concentrated efforts, thereby sensing lucrative growth opportunities in femtech market.
Based on solution, 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, an unprecedented market growth is hence witnessed in digital innovative femtech market.
Based on application, the market is segmented into reproductive health, pelvic and uterine care, pregnancy & nursing care and general wellness, among others. Increasingly, there is a general trend of restricting women's health to fertility, maternal and child care, family planning, amongst others, thus fuelling the reproductive health segment. Moreover, pelvic floor disorders are common among 25 percent of adult women in the United States, for instance, which will fuel the segment across the forecast period.
The end user of femtech market is divided into individuals, hospitals and diagnostic centers. The technology friendly applications, in addition to its portability and convenience has especially gained preference among female users. Moreover, the femtech applications also make the process of diagnosis more private and in some cases less awkward.
Major industry participants in the global femtech market include Aparito, Ava Science Inc., Bloomlife, Inc., Bonzun, Elvie, Grace.health, Hera Med Ltd., iBreve Ltd, LactApp, NaturalCycles Nordic AB, Niramai Health Analytix Pvt Ltd, Nurx, Pregnolia, SteadySense GmbH, The Birthplace, Willow, Woom, among others. New product launches, geographical expansion are some of the major strategies adopted by these players to gain a competitive edge.
The detailed research study provides qualitative and quantitative analysis of the global femtech market. The market has been analyzed from the scope of demand as well as supply. The geographical analysis emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Femtech Market by Application
At home fertility tracking and monitoring
Pelvic and Uterine care
Pregnancy and nursing care
Nutrition and fitness
Chronic disease management
Rest of North America
Rest of Europe
Rest of Southeast Asia
Rest of Asia Pacific
Middle East and Africa
Rest of Middle East & Africa
Rest of Latin America
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