Press Release

Budding Recognition of Women’s Heath to Boost the Female Technology (Femtech) Market Globally

The Global Female Technology (Femtech) market is projected to grow at a CAGR of around 9.28% during the forecast period of 2023-30, cites MarkNtel Advisors in the recent research report. The market has been expanding due to numerous growth factors, such as the rising number of chronic diseases, growing health awareness, the amplified number of women entrepreneurs, and rapid progression in digitalization. In recent years, the growing awareness of health among women has resulted in the rise of demand for femtech platforms to track their health monitors to improve their wellness. The awareness has risen in recent years owing to technological development such as the booming smart wearables industry, which enabled women to have easier access to information about their health, like their menstrual cycle & heart rate.

Moreover, numerous initiatives by the government to promote women’s health have also resulted in increased awareness among individuals regarding their health monitoring. Governments of different countries, such as Israel, the US, the UK, and others, are focusing on equipping their citizens with knowledge regarding women’s health topics like menstruation, contraception, fertility, pregnancy, and menopause. The aim is to diminish the taboo & stigma affiliated with such topics, which would raise the acceptance of Femtech products among customers. For instance, in 2020, the government introduced relationships and sex education (RSE) and health education in all schools to raise awareness of female health conditions among both genders. 

Furthermore, the reduction in the gender gap & rising investments promote women’s entrepreneurship which gives a notable boost to the advancement of new startups & has also contributed to market growth. It increases access to funding opportunities, including grants, loans, and venture capital for women in this industry. Thus, it diminishes the biased attitude faced by women entrepreneurs, when initiating their businesses. The digitalization of health data boosts the research sector by equipping it with credible data & helps to develop reliable products, which raise their popularity among customers leading to enriched sales, further states the research report, “Global Female Technology (Femtech) Market Analysis, 2023.”

Reproductive Health Monitoring Application to Hold the Lion’s Share

Based on Application, the market is further classified as Reproductive Health, Pregnancy & Nursing Care, Pelvic & Uterine Health, and General Health & Wellness. Among them, Reproductive Health accounts for the majority of the market share. Women's inclination toward the usage of modern-day natural contraceptives instead of using hormone-induced contraceptives, such as pills, is a vital reason for reproductive health to make the highest revenue in the application segment.

In the sub-segment of reproductive, period tracking and at-home fertility tracking & monitoring solutions are the most prominent sections used by females. Moreover, the easy availability of such apps in different smart wearables, such as watches & bracelets, has also led to supplemented demand & popularity. Further, expanding global infertility incidences are also one of the major contributors to the rising usage of at-home fertility tracking & monitoring solutions, hence supporting the market growth in the future years.

North America to Lead the Market

The rising health awareness & high investment opportunities are the primary reasons influencing the Female Technology (Femtech) market in the North American region, which has been growing at a noteworthy pace. In the US, the growing incidences of heart disease are also a key factor driving the market growth. Additionally, the declining life expectancy & high maternal mortality rate are augmenting the market in the region. Furthermore, the regulatory scenario by Food and Drug Administration has been building trust for the product as they have been monitoring, surveying, and approving the old & new technologies launched by female technology-based companies.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including AlYK, Inc., Aytu BioScience, Inc., Biowink GmbH, Bloomlife, CORA, Flo Health, Inc., Glow, Inc., Inne, Kasha, NaturalCycles Nordic AB, Ovia Health, Plackal Tech, Sustain Natural, The Flex Company, Thinx, Inc. Celmatix Inc., Conceivable Inc., Lia Diagnostics Inc., Lucina Analytics, Progyny, Inc., and Univfy Inc., are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the regions?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various regions?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2018-28?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?