DUBLIN, Jun 14, 2021--(BUSINESS WIRE)--The "Femtech Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The femtech market is expected to grow at a CAGR of over 13% during the forecast period 2020-2026.
The healthcare market is entering the era of digital innovation as patients seek on-demand healthcare. It is estimated that 80% of women spend on health products and make 90% of household decisions on health issues. Developers in healthcare have introduced female technology, which is broadly termed femtech. The usage of medical apps is increasing as it creates health awareness, health coaching, and medication management to technology-enabled solutions for accurate screening and diagnosis of chronic diseases; femtech applications covers major areas of healthcare.
Healthcare professionals are in the pipeline to create better workflows using artificial intelligence-powered systems. With the wide acceptance of digital transformation in the healthcare market, several femtech companies focus on collecting their health data from medical devices, including wearable technology. As most of the technologies are implemented in femtech products, the rise in demand for these solutions can enhance the market's growth.
The following factors are likely to contribute to the growth of the femtech market during the forecast period:
Latest approaches for preventing female-specific chronic conditions
Advancements of smart medical devices & wearables for women
Rising demand for digital health solutions
Growing interest of venture capitalists
The report considers the present scenario of the femtech market and its market dynamics for the period 2020-2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes leading companies and several other prominent companies operating in the market.
The demand for smart medical devices with more comfort and reduced side effects is gaining traction in female-focused health products. Femtech investors, fitness wearable manufacturers, and health advocates should focus on creating solutions for the entire spectrum of women. Clue offers fertility tracking solutions collaborating with Fitbit's ionic sports watch to make the first-period tracking app compatible with the Fitbit OS.
Femtech assists women through pre-pregnancy, pregnancy to the post-pregnancy stage. Latest technology solutions can help with newborn baby health monitoring and nursing care. Many startups are creating innovative digital technologies incorporated into the femtech products, thereby driving the market's growth. A female-founded startup addressing women's sexual health is Rosy, a digital health solution supporting women experiencing low libido. The global femtech market by maternal health is expected to reach over USD 19 billion by 2026. Many devices, wearables, applications have been developed to monitor body changes in pregnant women and prenatal care. Bloomlife, Luna, Lucina, Obseva, Inpress Technologies, and many others are providing pregnancy-related services.
Technological advancements can keep women informed about their health issues and be managed efficiently. Diagnostic and screening services are mostly performed by using medical devices specific for diagnosing female health conditions. Endodiag, a French medical technology company that allows early diagnosis of endometriosis, and iSono Health developed a screening device for breast cancer. Femtech devices gaining significance in this sector include Bellabeat Leaf, which allows women to track, manage, and improve their overall health. CareNX Innovations provides smartphone-integrated care diagnostics making it highly accessible to women in rural areas.
Government and NHS authorities are funding the end-users to increase the consumption of femtech products. Among various end-users, hospitals and surgical centers have the highest adoption of femtech products and services, contributing a significant share in the market. The acceptance of personalized diagnostics, smart tools, and evidence-based recommendations are changing the way women's health issues are addressed.
The use of artificial intelligence and data analytics in diagnostics can improve the effectiveness of screening and diagnosis. Most tech companies and investors focused on fertility and maternity management, such as Natalist, which offers DTC products for fertility, pregnancy, and educational information.
Key Questions Answered
How big is the femtech market?
What is the growth rate of the US femtech market?
What are the key technologies driving the Femtech Market?
How is COVID-19 enabling the femtech market growth?
Which end-user segment is the fastest growing in the femtech market?
Opportunities & Trends
Growing Interest of Venture Capitalists
Growing Availability Of Smart Medical Devices For Women
Increasing Sexual & Reproductive Awareness Due To Digital Technologies
Inclusive Care For Queer Communities Through Femtech
Preventing Female-Specific Chronic Conditions
Increasing Demand For Digital Health Solutions
Role Of Women In Increasing Traction Toward Femtech
Large Growth Potential In Femtech Services
Low Adoption of Digital Technologies In Rural Areas
Societal Myths & Taboos Surrounding Women's Health
Lack of Awareness About Reproductive Health & Menstrual Hygiene
Athena Feminine Technologies
Calla Lily Personal Care
For more information about this report visit https://www.researchandmarkets.com/r/ww9mcn
View source version on businesswire.com: https://www.businesswire.com/news/home/20210614005401/en/
Laura Wood, Senior Press Manager
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