According to a new report published by K D Market Insights, titled, “Femtech Market Insights, Trends, Opportunity & Forecast, 2023–2032,” the global femtech market size is anticipated to witness moderate growth during the forecast period i.e., 2023-2032. The increasing awareness surrounding women’s health and wellbeing, advancements in technology, the growing interest from investors and venture capitalists in femtech and rising demand for accessible healthcare solutions among women which are the major factors augmenting the growth of the global femtech market. The global femtech market is anticipated to grow at a high CAGR of 11.1% from 2023 to 2032. The market's revenue surged to $5.6 billion in 2022, and it is expected to further accelerate, reaching a notable $16.0 billion by 2032.
Advancements in technology have resulted in the creation of devices and software attracting health individuals, are further expected to create ample growth opportunities for the global femtech market during the forecast period i.e., 2023-2032. Moreover, the growing prevalence of illnesses in women and the growing presence of young woman within the tech community are fueling innovation and technological development in this enterprise, has propelled market expansion. There is a rising demand for accessible healthcare solutions among women. They are in search of healthcare alternatives that are tailored to their requirements whilst additionally being easily accessible, is expected to contribute towards the market growth during the period.
The North America region accounted for the largest share in the global femtech market in 2022. The region is further projected to continue dominating in the market during the forecast period. This can be attributed to the emphasis on women's health and well-being in both residential and commercial sectors.
According to type, the devices segment accounted for the largest market share in the femtech market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
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The global femtech market is segmented into type, application, end-users and region. Based on type, the market is bifurcated into devices, software, and services. Based on application, it is classified into reproductive health, pregnancy and nursing care, pelvic and uterine healthcare, and general healthcare and wellness, others. Based on end-users, it is classified into hospitals, fertility clinics, and others.
The global femtech market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).
Key Insights of Femtech Market
· On the basis of type, the devices segment accounted for the largest market share in the femtech market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
· On the basis of region, North America accounted for the largest share in the global femtech market in 2022. The region is further projected to continue dominating in the market during the forecast period.
· On the basis of region, Europe is estimated to account for the second largest share in the market during the forecast period.
Some of the major femtech companies profiled in the report include Nuvo Cares, Elvie, HeraMED, Flo Health, Inc., Natural Cycles USA Corp, iSono Health, Sera Prognostics, Athena Feminine Technologies, NUROKOR LIMITED, Canopie.
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