New York, June 04, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Femtech Market – Global Outlook and Forecast 2021-2026” – https://www.reportlinker.com/p06079952/?utm_source=GNW
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.
FEMTECH MARKET SEGMENTATION
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.
Segmentation by Product Type
Segmentation by Indication
• Maternal Health
• Sexual Wellness
Segmentation by Application
• General Wellness
Segmentation by End-user
• Hospitals & Surgical Centers
• Diagnostic Centers
• Fertility Clinics
• Direct to Consumer
INSIGHTS BY GEOGRAPHY
The onset of various women-specific chronic diseases and other health issues are widespread in North America. The utilization of telehealth and mHealth services has drastically increased among women in North America. The market has grown profoundly in the North American region than any other regions across the globe. The application of femtech in the US is supported by many players offering products and services related to female healthcare.
The EU is also funding several telehealth projects and pilot programs to increase its adoption. The UK, Germany, and France are the three countries fueling the growth of the female technology market in Europe. Germany is leading compared to other countries in Europe due to the emergence of major startups that gained high attention in the market.
Segmentation by Geography
• North America
o South Korea
• Latin America
• Middle East & Africa
o South Africa
o Saudi Arabia
Femtech is acclaimed as the next big phenomenon in the women’s healthcare market, offering clinical diagnostics, biopharmaceuticals, and medical device companies to utilize the opportunities in the market. The increasing government initiatives and regulatory approvals boost the development of femtech products in the healthcare industry. The increasing fund by several investors is the major opportunities raised for the female healthcare companies.
Some of the leading players in the market include Bloomlife, Bloomer Tech, Clue, Elvie, Fizimed, Glow, Flo Health, Inne, NaturalCycles, Nurx, and many others. Aspivix is a medical device start-up based in Switzerland, committed to developing gentle and modern gynecological solutions that advance women’s healthcare.
• Athena Feminine Technologies
• Ava Science
• Biowink GmbH
• Bloomer Tech
• Bonzun IVF
• Calla Lily Personal Care
• Cocorointim SL
• Cirqle Biomedical
• Flo Health
• Grace Health
• iSono Health
• Juno Bio
• Minerva Surgical
• Moody Month
• Natural Cycles
• NVision Medical
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?
Read the full report: https://www.reportlinker.com/p06079952/?utm_source=GNW
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