20 Sep, 2021, 10:30 ET
DUBLIN, Sept. 20, 2021 /PRNewswire/ -- The "Global Women's Digital Health Market 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global women's digital health market size is expected to reach USD 6.5 billion by 2028 and is expected to expand at a CAGR of 19.9%
The encouraging regulatory environment for digital solutions catering to women's fitness issues is expected to drive the growth of the market. In addition, the rise in funding for women's health start-ups is one of the key growth factors as the investors are now attracted to this market.
The regulatory agencies have approved digital health applications specifically focusing on women's care. For instance, the FDA approved Ava, a fertility tracking wearable device and mobile application developed by Natural Cycles, as a class-one medical device in 2016. Ava received CE approval as a class-two medical device in 2017.
Women's healthcare is gradually moving beyond reproductive health. Breast cancer, cardiovascular diseases, cervical cancer, maternal mortality, and mental diseases significantly contribute to the burden of women's health issues. The government and various private organizations are now focusing on women's fitness particularly and developing prominent solutions to address the issues.
The Covid-19 pandemic has reshaped the healthcare scenario as many countries implemented tough lockdown and millions of women living in developing/underdeveloped countries were unable to access required maternal care and contraceptives.
In some countries, reproductive health issues were classified as non-essential services during the pandemic. Therefore, the implementation of digital fitness solutions such as mobile apps and wearable tracking devices witnessed significant growth in 2020.
Women's Digital Health Market Report Highlights
- The mobile apps segment held a majority of the market share in 2020 owing to the rising adoption of mobile apps for the management of menstrual cycles, fertility cycles, and pregnancy
- On the other hand, the wearable device segment is likely to witness the fastest growth over the forecast period as they enable women to track their fitness parameters, menstrual cycles, ovulation, physical activities, heart rate, and sleep patterns
- The reproductive health segment accounted for a majority of the market share in 2020 pertaining to the highest adoption rate of mobile applications catering to female care management
- In 2020, North America held a majority of the regional market share owing to the availability of advanced technological infrastructure, better access to the latest devices, better reach for diagnosis and treatment, among many other factors. Asia Pacific is expected to witness the fastest growth over the forecast period from 2021 to 2028
- The market players are capitalizing on the opportunities by developing solutions to cater to the special areas of women's healthcare. The established players focus on extensive R&D activities. Therefore, the start-up companies are constantly under pressure to introduce customizable user-friendly solutions in the market to keep their position in the market
Market Driver Analysis
- Promising regulatory scenario
- Growth in investments and funding
- Rising awareness & growing adoption of digital health solutions among women for health management
- Diversifying into different women health issues
- Technological advancements
Market Restraint Analysis
- Data privacy and security issues
- Inadequate R&D expenditure
- Isono Health
- Clue By Biowink Gmbh
- Chiaro Technology Ltd And Elvie
- Natural Cycles USA Corp
- Ava Science, Inc.
- Lucina Health
- Braster Sa
- Plackal (Maya)
- Atena Feminine Technologies
For more information about this report visit https://www.researchandmarkets.com/r/ra4fsc
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets
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