Femtech Market – Global Outlook & Forecast 2021-2031

Femtech Market by Offering [Devices, Software and Services], Application [Fertility & Reproductive Health; Pregnancy, Maternity & Nursing Care; Pelvic & Uterine Health; General Healthcare & Wellness], End User [Hospitals, Fertility Clinics and Direct to Consumer] – Global Analysis & Forecast 2021-2031

Clairvoyance Research conducted an in-depth market analysis study of the global femtech market. According to the study, the market was valued at ~US$ 497.2 million in 2020. The market is expected to witness a CAGR of ~12.8% from 2021 to 2031. 

Increasing prevalence of chronic & infectious diseases among women, growing awareness about women health & well-being, rising adoption of digital health solutions, technological advancements and significant increase in venture capital investments are some of the pivotal factors propelling the growth of the femtech market. However, ethical concerns related to products, myths related to women’s health and lack of awareness about sexual health & menstrual hygiene are likely to hinder the growth of the market to a certain extent.

With an aim to fast-track the development of femtech and to meet the needs of the healthcare sector, several initiatives such as providing necessary grants, funding’s, clearances & approvals have been instigated by various organizations and government agencies across the world. For instance, in Jun 2021, Hertility Health, a women’s health startup announced the closing of a €4.8 million (US$ 5.7 million) seed funding round. The funding will allow Hertility Health to expand its product offerings & clinical trials and help to establish itself as a scientific and clinical educational health hub for women. 

Women play an important role as a primary caregiver in the family. Around 90% of women are primary decision maker for their family and around 40% of women are part of the “sandwich generation,” providing care to both aging parents and children living at home. But often women health is sidelined owing to various personal and cultural reasons, making them prone to various health problems. According to the survey, around a quarter of U.S. women don’t receive primary care owing to lack of time and busy schedule. In recent years, increasing global campaigns focusing on women’s issues has created awareness about health and wellness among women. This has increased the demand for early disease detection and treatment amongst women, thereby propelling the growth of the market.

In order to be competitive in the market, several prominent players are progressively implementing several strategies such as technological advancements, acquisitions and/or collaborative initiatives with several organizations, research centers & companies for R&D activities. For instance, in May 2021, Ro, a healthtech company announced the acquisition of Modern Fertility, a reproductive health company focused on addressing gaps in women’s healthcare through fertility testing, research, education and community. The acquisition is expected to fortify Ro’s position in the women health industry.

However, myths and taboos related to women’s health mainly in rural area due to lack of education, lack of awareness and lack of access to hygiene products are expected to limit the adoption of femtech.

The femtech market is marked by presence of prominent players such as Natural Cycles USA Corp, Bloomlife, Chiaro Technology Ltd and Elvie, Ava Science Inc., Grace Health, Calm, HeraMED Ltd, NUVO Inc., Clue, Athena Feminine Technologies, Inc. and Bonzun IVF. Other players operating in the market are Ovia Health, Univfy Inc., Carrot, iBreve, Babyscripts, Peppy Health, WOOM, B-wom, Calm, Gynica, Lattice Medical, LactApp, Kheiron Medical Technologies, among others.

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