Global Female Technology (Femtech) Market to 2028: Increasing Demand for Reproductive Health and Maternity Care Drives Growth

DUBLIN, April 14, 2023 /PRNewswire/ -- The "Female Technology (Femtech) Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product (Mobile Apps, Connected Devices, Services, Others), By Application, By End-use, By Region" report has been added to  ResearchAndMarkets.com's offering.

The Global Female Technology (Femtech) market is projected to witness impressive growth during the forecast period.

Companies Mentioned 

• ALYK, Inc.
• Aytu BioScience, Inc.
• Biowink GmbH
• Bloomlife
• CORA
• Flo Health, Inc.
• Glow, Inc.
• Inne
• Kasha Inc.
• NaturalCycles USA Corp
• Nordic AB
• Ovia Health
• Plackal Tech
• Sustain Natural
• The Flex Company
• Thinx, Inc.

The factors contributing to the growth of the market are increasing digital literacy rates, internet connectivity, smartphone penetration, and digital healthcare infrastructure.

Further, the growing availability of smart wearable devices such as fitness trackers and smartwatches is anticipated to lift the growth of the Female Technology (Femtech) market. In addition, the increasing adoption of digital solutions in developed and developing countries combined with technological advancements is expected to fuel the market's growth during the forecast period.

FemTech (Female Technology) is a technology that improves the health and well-being of women. This term is frequently used to refer to programs, services, products, software, hardware, vitamins, supplements, telehealth, wearables, digital platforms, and consumer goods intended to enhance or support the health of women, including but not limited to those who identify as cisgender women and women from gender or sexual minorities.

Increasing demand for Digital Health

Developing solutions to cater to the growing needs of women's healthcare by the key players and demand for smartphones and wearable devices act as a major driver to the market.

The healthcare sector has expanded beyond reproductive health to address other healthcare issues such as breast cancer, cervical cancer, mental health, general health & wellness, and pregnancy monitoring.

Further, the number of free trials of various apps by female users has increased due to the availability of low- or no-cost health applications addressing a variety of women's health issues, such as period cycle tracking, fertility & ovulation management, prenatal care management, and sexual wellbeing which in turn drivers the growth of the market.

Moreover, the growth in the use of mobile applications has also been facilitated by features like notifications, scheduling pill reminders, remote monitoring, diagnostics, medical references, and e-Learning.

Natural Cycles & Oura smart ring, Google and Fitbit, AVA Fertility Tracker wearable and application, and a few additional companies are the players who are combining the app and gadgets. Period cycle tracking, fertility and ovulation management, menstrual health management, and pregnancy care management solutions are the key services offered by the app and gadget combo. Hence, the rise in the application of digital health monitoring apps is a major driver of the market.

North America is expected to have rapid digitalization in the healthcare sector due to the high penetration of smartphones with increasing awareness of digital health monitoring solutions. In North America, there were 296 million mobile internet users in 2020, and according to forecasts from Mobile Economy North America 2021, that number is expected to rise to 323 million by 2025. Hence increasing mobile internet users and adoption of digital services are driving the growth of the Femtech market in the region.

Increasing Demand for Reproductive Health and Maternity Care

Femtech has applications in areas such as reproductive healthcare & well-being, pregnancy & nursing care, pelvic & uterine healthcare, and others. Increasing demand for sophisticated devices and consumables used during pregnancy & nursing care is expected to favor the market growth.

Globally, about 37% of the FemTech market belongs to Pregnancy & Nursing and Reproductive Health & Contraception subsectors. Moreover, most maternal death occurs in rural areas due to low education and a lack of digital facilities. This factor is expected to increase the demand for reproductive health and maternity care in rural areas.

Further, increasing government initiatives to boost women's health education programs and healthcare investments are expected to fuel the growth of the Global Female Technology (Femtech) Market during the forecast period.

Report Scope:

In this report, global Female Technology (Femtech) market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

Female Technology (Femtech) Market, By Product:

• Mobile Apps
• Connected Devices
• Services
• Others

Female Technology (Femtech) Market, By Application:

• Reproductive Health
• General Wellness
• Pregnancy and Nursing Care
• Pelvic and Uterine Care

Female Technology (Femtech) Market, By End-use:

• Individuals
• Fertility Clinics
• Hospitals and Research Institutes
• Diagnostic Centers

For more information about this report visit https://www.researchandmarkets.com/r/bsl2ux

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