Femtech Market to cross USD 135.5 billion by 2032, says Global Market Insights Inc.
Global Market Insights Inc.Femtech industry is anticipated to grow 16% CAGR between 2023 and 2032 due to usage of digital technology to manage women's health in developed countries and improving…
Femtech industry is anticipated to grow 16% CAGR between 2023 and 2032 due to usage of digital technology to manage women's health in developed countries and improving access to women's care in remote areas.
Selbyville, Delaware, Dec. 21, 2022 (GLOBE NEWSWIRE) -- Femtech market value is estimated to reach USD 135.5 billion by 2032, as per a recent research report announced by Global Market Insights Inc.
The rising burden of infectious disfeases among the female population will bolster the demand for femtech health solutions. Based on statistics from the World Bank, over 60% of untreated syphilis and HIV infections claim the lives of 200,000 females from unprotected intercourse per year. Due to research and data gaps, breakthroughs in women-specific condition treatment and diagnosis are also limited. This, in turn, is increasing the need for treatment interventions, creating opportunities for femtech app developers to bridge the medical data gap and help collect real-world evidence at scale.
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Rising use of wearables & women's health products to promote femtech device development
The products type segment accounted for over 49% of the femtech market share in 2022. Increasing prevalence of chronic and infectious diseases. The popularity of healthcare solutions including wearables and fitness trackers has also surged among women. Over recent years, there has been a noticeable increase in sales of women's hygiene products. These factors will boost the production of femtech electronics and other wearable products for precise disease diagnosis and treatment of diseases affecting the female population.
Browse key industry insights spread across 145 pages with 175 market data tables & 13 figures & charts from the report, 'Femtech Market Statistics By Type (Products, Software, Services), Application (Reproductive Health, Pregnancy & Nursing Care, Pelvic & Uterine Healthcare, General Healthcare & Wellness), End-use (Direct-to-consumer, Hospitals, Fertility Clinics, Surgical Centers, Diagnostic Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032', in detail along with the table of contents:
Favorable government initiatives to promote maternity care spur femtech service demand
The pregnancy & nursing care application segment will depict over 16% through 2023-2032, given the widespread availability of advanced pregnancy care solutions. Government bodies have also been undertaking initiatives to promote prenatal care.
Preference for surgical and non-surgical treatment to accelerate femtech usage in hospitals
Femtech market value from the hospitals end-use segment was more than USD 6 billion in 2022, owing to the increasing inclination toward surgical and non-surgical procedures for women in hospitals. In addition, women prefer to visit hospitals for the treatment of a range of gynecological disorders, mainly due to the presence of skilled professionals and advanced products. This increased preference for health treatments in hospitals will augment femtech device usage.
APAC to emerge as a prominent consumer hub for femtech service providers
Asia Pacific femtech market region is anticipated to hold a 19% business share by 2032. Government bodies in several Asian countries have been introducing favorable initiatives to broaden accessibility to digital health management in remote areas. High-end healthcare technology has also gained ground due to the increasing number of new entrants. The growing spending power of the female population will proliferate the deployment of femtech for improved disease diagnosis and treatments in the region.
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Strategic partnerships among industry players to bolster the competitive landscape
Major enterprises operating in the femtech market are BioWink GmbH, Athena Feminine Technologies, Conceivable, Inc, HeraMED, Elvie, iSono Health, Nuvo Cares, Minerva Surgical, Prelude, Sustain Natural, and Totohealth.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.