DUBLIN, Sept. 16, 2020 /PRNewswire/ — The “Global Female Technology (Femtech) Market: Analysis and Forecast, 2019-2030” report has been added to ResearchAndMarkets.com’s offering.
The global Femtech market generated a revenue of $820.6 million in 2019 and is estimated to grow over $3.04 billion by the end of 2030.
The market is projected to grow at a CAGR of 12.65%, during the forecast period. There are multiple factors that drive the market such as increasing representation of women in the technological community, raising awareness of women’s health, growing prevalence of infectious diseases among females in low to middle-income countries, and a surge in funding activities, among others.
Despite having huge potential, the Femtech industry is still immensely underfunded accounting for only 1.4% aggregated capital that flows into healthcare. Also, a large number of healthcare venture capitalists are yet to invest in this sector. Indeed, the amount of investment received by the Femtech industry is on a rise but at a surprisingly slow pace considering the potential of the market.
However, the signs of future growth are also quite evident. Five years ago, the amount of funding received by this sector had barely reached about $100 million. The Femtech industry witnessed more than $500 million funding (till 2019). The number of women-centric startups have significantly multiplied in recent years. This surge is also primarily attributed to the launch of the fertility tracking app by PayPal co-founder Max Levchin in 2013. The app also witnessed high profile VC funding from agencies such as Andreessen Horowitz and Founders Fund.
Today, a large number of start-ups could be seen in the market offering fertility tracking apps, as well as those focused on egg freezing and fertility treatments, women-centric clinical care, and even subscription-based tampons. Some of the top-tier VCs have also entered this field. For example, Kleiner Perkins, has backed a fertility platform called Progyny with a funding of $49 million, while NEA has backed a sexual wellness start-up called Nuelle offering financial support of $23 million.
Currently, the Femtech industry comprises over 200 start-ups globally, and a significant number of such companies are being led by women. Some of the major areas of women’s health that are being catered to with the help of technology are menstruation care, sexual health, fertility, and pregnancy care. Within these areas, companies are either developing new solutions such as Flex Disc, Thinx absorbent period underwear, or the Glow fertility and ovulation tracker or focusing on technology-based platforms using subscription-based model to democratize existing products such as birth control products and period products.
- The services segment is expected to grow at the highest CAGR of 15.58 percent during the forecast period. The growth in this segment is primarily due to the emergence of a plethora of start-ups catering to fertility management and support services, egg retrieval and egg freezing services, among many associated services. Some of the companies include Kindbody, Modern Fertility, and Prelude Fertility.
- Apps such as pregnancy and fertility tracking apps form the major component of the femtech market currently accounting for an estimated 62.28% of the entire femtech market. The apps segment is expected to reach a value of $1.78 billion by the end of 2030, growing at a CAGR of 12.05%, during the forecast period.
- As of 2019, reproductive health is the largest area of application for the femtech market. The segment accounts for an estimated 56.13% of the overall market. There are a plethora of apps for tracking periods and the menstrual cycle, such as Clue and Flo.
- From an end user perspective, individuals women account for an estimated 66.09% of the overall market. However, during the forecast period, fertility clinics followed by hospitals are expected to grow at the highest CAGRs of 13.38% and 13.31%, respectively. The growth from the fertility clinics is anticipated considering the huge funding of start-ups providing fertility-related services such as IVF and IUI to get pregnant, or for egg preservation.
- Underrepresentation of Women as Decision Makers
- Pricing and Branding Strategies
- Femtech in Emerging Economies
- Growing Emphasis on Holistic Women Healthcare
- Smart Medical Devices and Wearables
- Destigmatizing Menstrual Health and Menopause
Femtech Innovation Tracker
- Wearable Devices for Fertility Tracking
- Vaginal Sensor for Fertility Cycle Monitoring
- Leveraging Genomics and Big Data for Fertility Tracking and Menstrual Health
- Wearables for Breast Cancer Screening
- Femtech Received More Than $1 Billion Over the Last 5 Years
- Notable Private Funding in Femtech
- Growing recognition of Women in the Domain of Technology
- Economic Burden of Women’s health is more than $500 Billion
- Explosion of wearable devices and increasing smartphone penetration among women
- Lack of women decision makers
- Societal taboos surrounding women’s health issues
- Absence of awareness among women in rural areas
- Lack of scientific studies to back industrial claims
- Investment in product development for maternal, pre- and neo-natal care
- Investment in sub-Saharan Africa
- Product development for menopause management
- ALYK, Inc.
- Aytu BioScience, Inc.
- Biowink GmbH
- Flo Health, Inc.
- Glow, Inc.
- NaturalCycles Nordic AB
- Ovia Health
- Plackal Tech
- Sustain Natural
- The Flex Company
- Thinx, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/k3p9c1
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