Female Technology Market: Global Size, Share, Trends, Growth and Forecast 2022-2032
Femtech (or female technology) is a term applied to a category of software, diagnostics, products, and services that use technology often to focus on addressing women's prevailing health issues; which include fertility solutions, period-tracking, pregnancy and nursing care, women's sexual wellness, and reproductive system health care with the help of wearables, internet-connected medical devices, mobile apps, hygiene products, and others. The term, Femtech, was coined in 2016 by Ida Tin, a Danish entrepreneur who founded Clue, a period- and fertility tracking app.
Whilst the benefits of Femtech is increasingly being recognized, the market is still at a very nascent stage and often considered as a niche market by many. However, times are changing at a rapid pace. With the Femtech receiving more Than $1 Billion over the last 5 years, the Global Female Technology market is anticipated to grow at a comprehensive CAGR between 10-15% during 2020-2025 with both the government and private corporations investing extensively in the industry, boosting the growth of the market.
The growth of this market is attributed towards factors including an increase in women's health awareness, the increasing incidence of chronic diseases among the female population leading to a surge in demand for effective and more personalized treatment, growing prevalence of infectious disease among females in low to middle-income countries due to an unhygienic environment, a surge in funding activities, representation of women in the technological community, the introduction of wearable devices, increasing demand for accurate and speedy diagnosis, etc.
Femtech has brought in overall funding of approximately $1 billion since 2014. Agencies have also approved digital applications for conventional women’s health issues, and this has paved the way for Femtech applications in the mainstream competition. For instance, the first-ever mobile application for contraception from Natural Cycles received CE approval as a Class-Two medical device to be marketed in Europe in 2017, and the FDA approved Ava, a fertility tracking wearable as a Class-One medical device in 2016.
Moreover, most Femtech applications revolve around key women’s health issues, such as reproductive and maternal health, general health, and wellness, which includes mental health, chronic diseases, and communicable diseases. Few of them include wearable devices for Fertility Tracking and Breast Cancer Screening, Vaginal Sensor for Fertility Cycle Monitoring, Leveraging Genomics and Big Data for Fertility Tracking and Menstrual Health, etc.
Additionally, the market also consists of established clinical diagnostics, bio-pharmaceuticals and medical device companies which are focusing on scaling up this market. For instance, TDK, a Japanese consumer electronics company, has a digital clinical thermometer that is positioned alongside a Basal Body Temperature) BBT app that can be used to track fertility.
However, factors such as lack of awareness among women, particularly in rural areas, lack of visibility and communication about Femtech applications, unequal distribution of women as compared to men in investment community, lack of understanding of women's health issues by investors, lack of women decision-makers, societal taboos surrounding women's health issues, lack of scientific studies to back industrial claims restrain the growth of this market.
FEMALE TECHNOLOGY MARKET SEGMENTATION:
• Mobile Apps
• Connected Devices
• Reproductive Health
• Pregnancy and Nursing Care
• Pelvic and Uterine Health
• General Health and Wellness
By End Users:
• Diagnostic Centers
• Fertility Clinics
North America is expected to dominate the Femtech market in the next few years owing to factors such as growing prevalence of women-related diseases in the area, increasing women’s development contributions and women’s health education, policy emphasis on promoting women’s wellbeing and safety, among other factors.
Asia Pacific Femtech business is anticipated to grow exponentially in the coming years and is expected to achieve the highest CAGR by 2025. The industry player’s emphasis on delivering reliable, higher quality, and user-friendly tools and solutions for enhancing women’s lives coupled with an increasing count of patients in populous countries including India and China, vulnerable to multiple infectious and chronic diseases, would serve as potential drivers of the market in the region.
FEW KEY PLAYERS IN FEMALE TECHNOLOGY MARKET:
- Athena Feminine Technologies
- Sustain Natural
- Sera Prognostics
- iSono Health
- Natural Cycles Nordic AB
- Ovia Health
- Conceivable Inc.
- Celmatic Inc.
- Other Key & Niche Players
- In early 2019, Elvie raised $42 million in Series B funding, for a total of more than $50 million since their 2013 founding.
- In October 2019, Inne, a Berlin-based startup, announced a USD 8 Million Series A funding for its hormone-tracking subscription product for natural conception and fertility tracking. The Series A funding was led by Blossom Capital.
- In Oct 2020, Femtech Company Lady Technologies Launched kegg, the First 2-in-1 Medical Device to help Women In their Conception Journey. $1.5M Seed Accelerated Manufacturing and Shipping; App updated to incorporate user feedback.
- In Oct 2020, two years after launching its debut “next-gen” connected breast pump, Femtech hardware maker Elvie added to its portfolio a softer, hands-free and non-electric breast pump Elvie Curve ,that uses natural suction.
- In Oct 2020, Spanish Femtech startup Emjoy raised €2.5M to further develop its erotic audio guide app for sexual wellbeing.
Timeline Considered for Analysis:
- 2019: Estimated Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
- Overview & Executive Summary
- Market Drivers, Trends, Challenges and Opportunities
- Market Size and Forecast Projections
- Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
- Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
- Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global Female Technology market by the following segments:
- End Users
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Female Technology Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which submarket will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?