Femtech Market 2030: What Will Be Changes In Investment Ratio With Opportunity Analysis?? |Grand View Research, Inc.Posted by Mrudula Karmarkar on October 13th, 2022 The global femtech market size is expected to reach USD 13.1 billion by 2030 and is expected to expand at a CAGR of 11.1% during the forecast period, according to a new report by Grand View Research, Inc. Rising number of women’s health issues and growing health consciousness indicates the growth potential of the market. The industry is not only limited to reproductive health and diversifies to include other healthcare problems such as pregnancy monitoring, pelvic care, cervical cancer, mental health, general health & wellness, and breast cancer. Key participants are capitalizing on the opportunities and are developing solutions to cater to the growing needs of women’s healthcare. The increasing adoption of smartphones by consumers is driving the growth of various women’s health applications in the market. Furthermore, continuous improvement in network infrastructure and growing network coverage are boosting the demand for femtech services. Mobile network operators view women’s health technology space as an opportunity for investment owing to the growing adoption of smartphones by users and raising awareness about women’s health issues. Furthermore, a favorable regulatory environment and increase in regulatory approvals of various digital applications addressing conventional women’s health issues, such as menstruation tracking, pregnancy management, & fertility management, are expected to contribute directly to growth. The wearables segment dominated in 2021 owing to the growing health consciousness and awareness amongst female users, increasing prevalence of women’s health issues, growing adoption of value-based care services, and integration of advanced features such as predictive analytics, gamification, cloud synchronization, and longer battery life. Data generated from wearable devices can be used to under female health parameters more closely and provide female users with data-driven insights about their health & wellbeing. On the other hand, mobile apps are expected to grow lucratively in upcoming years owing to the growing trend of precautionary healthcare and rapidly growing smartphone penetration supported by improving internet connectivity. With advanced technological integration, such as AI and data science, these healthcare applications provide actionable insights based on the data entered, enabling women to make informed decisions regarding their health & wellness. Furthermore, the physicians and doctors can also refer to the data, consequently bridging the gap between the healthcare providers and the patients, further enabling access to care virtually, timely, & in remote areas. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/femtech-market-report/request/rs1 Growing health consciousness amongst the female population, normalizing & proactively addressing women’s health issues will contribute to the high market growth. Increasing disposable income, digital literacy, smartphone penetration, internet connectivity, digital health infrastructure, and the emergence of startups focusing on women’s health present lucrative opportunities to new and existing market participants. The growing availability of smart wearable devices is contributing to market development and growth. Health tech developers and investors are capitalizing on untapped opportunities and funding innovative product development strategies to address women’s health issues. Key Investment & Product/Market Development Trends:
Manufacturers of smart wearable devices and developers of advanced mobile applications are integrating their innovative product development strategies to efficiently utilize resources serving women’s health needs. Through these applications and devices (wearable and non-wearable), female users can easily track their health & wellbeing, receive informational content on multiple health queries, and actively engage with female communities or healthcare professionals. For instance, in July 2021, the U.S. FDA approved and gave clearance to Natural Cycles to use body temperature data readings collected by smart wearables, such as Oura smart ring, for assessing a woman’s fertility and managing pregnancy. Femtech Market Report Highlights
Femtech Market Share Insights
Flo Health, Inc; Apple, Inc; Clue by Biowink GmbH; Glow, Inc; Google, Inc; Natural Cycles USA Corp; Withings; Fitbit, Inc are some of the dominant players in the market. The growing demands arising from the unmet healthcare needs of the female population are driving market players across the globe to develop innovative product offerings and technological solutions. For instance, in March 2021, Clue received the U.S. FDA clearance for the launch of Clue Birth Control—a digital contraceptive built-in Clue application that can predict ovulation statistically by using a tool for birth control. Key participants are focusing on mergers & acquisitions and technological collaboration strategies to expand their business footprint. For instance, in August 2021, Labcorp acquired Ovia Health, formerly known as Ovuline, a personalized data-driven solution for reproductive health companies. Through this acquisition, Labcorp strengthened its business position as a go-to source for women’s health insights and ventured into new avenues for personalized care. List of Key Players in the Femtech Market
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