SAN FRANCISCO, June 16, 2021 /PRNewswire/ --The global women's digital health market size is expected to reach USD 6.5 billion by 2028, based on a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 19.9% from 2021 to 2028. 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.
Key suggestions from the report:
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
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.
Grand View Research has segmented the global women's digital health market based on type, application, and region:
Women's Digital Health Type Outlook (Revenue, USD Million, 2016 - 2028)
Women's Digital Health Application Outlook (Revenue, USD Million, 2016 - 2028)
Pregnancy & Nursing Care
General Healthcare & Wellness
Women's Digital Health Regional Outlook (Revenue, USD Million, 2016 - 2028)
Middle East & Africa
List of Key Players of Women's Digital Health Market
Digital Health Market – The global digital health market size was valued at USD 96.5 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 15.1% from 2021 to 2028.
Women's Health App Market – The global women's health app market size was valued at USD 2.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 19.0% from 2021 to 2028.
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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.