According to a new report published by UnivDatos Markets Insights, the Femtech Market was valued at 2.8 billion in 2020 and is expected to grow at a CAGR of around 12% from 2022-2028. The analysis has been segmented into Type (Devices, Software, Services and Others); Application (Reproductive Health, Pregnancy & Nursing Care, Pelvic & Uterine Healthcare and General Healthcare & Wellness); End-User (Direct-to-Consumer, Fertility Clinics, Surgical Centers, and Others); Region/Country.
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The femtech market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the femtech market. The femtech market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the femtech market at the global and regional levels.
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Market Overview
Femtech is a term used to describe diagnostic instruments, products, services, wearables, and software that uses technology to treat problems with women's health, including menstrual, reproductive, sexual, maternity, and menopausal disorders. The femtech market is expected to grow on account of the growing adoption of digital health solutions, increasing digital literacy and escalating smartphone penetration across the world. For instance, the number of smartphone users across the world exceeded the 3-billion mark and is anticipated to surpass the 4-billion mark in near future led by China, India, and the United States. Additionally, there is a considerable rise in no. of smartphone owners from 2.5 billion in 2016 to 3.8 billion in 2021.
The Femtech Market is expected to grow at a steady rate of around 12% during the forecast period. Factors such as rapid technological advancement in mobile health technology, changing traditional medical protocols and an upsurge in venture capital investments are some of the prominent factors contributing to the growth of the market.
Some of the major players operating in the market include Sera Prognostics, HeraMED, Athena Feminine Technologies, Inc., Flo Health, Inc, Natural Cycles USA Corp, Fitbit, Inc, Totohealth, Minerva Surgical, Inc., iSono Health, Biowink GmbH.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the healthcare industry and has transformed the way healthcare is delivered. The femtech market has been significantly impacted during these times owing to the growing awareness among females and the increasing use of digital solutions across the globe.
The global femtech market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on type, the femtech market is segmented into devices, software, services and others. The devices segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe owing to rising health consciousness & awareness coupled with the growing adoption of wearable devices among women. Furthermore, the shifting trend toward value-based care and the rising focus on a consumer-led model are also some of the factors driving growth.
· Based on application, the femtech market is divided into reproductive health, pregnancy & nursing care, pelvic & uterine healthcare and general healthcare & wellness. The reproductive health segment grabbed a significant market share in 2020 and is expected to grow considerably during the forecast period. The growth of this segment can be attributed to the increasing prevalence of reproductive health issues and growing awareness among females to maintain their reproductive health.
· Based on end-users, the market is fragmented into direct-to-consumer, fertility clinics, surgical centers, and others. In 2020, the direct-to-consumer segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast owing to the growing awareness among the consumers and ease of access to various applications, software, and others directly to consumers.
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Femtech Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
North America is anticipated to grow at a substantial CAGR during the forecast period. The major factors such as well-established healthcare infrastructure and rapid digitalization of healthcare owing to various factors such as increasing smartphone penetration in the region as well as rising demand for health-related smart solutions among Americans. For instance, according to the Mobile Economy Report, smartphone adoption is growing and by the end of 2021, smartphones accounted for 83% of mobile connections in North America.
The major players targeting the market include
· Sera Prognostics
· HeraMED
· Athena Feminine Technologies, Inc.
· Flo Health, Inc
· Natural Cycles USA Corp
· Fitbit, Inc
· Totohealth
· Minerva Surgical, Inc.
· iSono Health
· Biowink GmbH
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Femtech Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the femtech market?
• Which factors are influencing the femtech market over the forecast period?
• What are the global challenges, threats, and risks in the femtech market?
• Which factors are propelling and restraining the femtech market?
• What are the demanding global regions of the femtech market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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