Femtech Market (By Product Type: Wearable, Mobile Apps) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

The global femtech market was surpassed at USD 5.2 billion in 2021 and is expected to hit around USD 13.3 billion by 2030, growing at a CAGR of 11.0% from 2022 to 2030.

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. 

Scope of The Report

Product Type Insights

• Period tracking followed by fertility and pregnancy are the most lucrative life stages with the highest number of Femtech app downloads.
• Low IT literacy and awareness of Femtech apps among baby boomers is hindering the growth of pre-menopause and menopause solutions.

The wearables segment holds the largest market share of 79.5% owing to the growing health consciousness among female users and the increasing prevalence of women’s health issues are boosting the demand for wearables in the market. The shifting trend toward value-based care and a consumer-led model is driving growth. Moreover, wearable devices are evolving and working as an essential tool, as the population is focusing more & more on self-health care, wellness, and digitalization. Seamless smartphone integration, longer battery life, and wireless connectivity are some of the key features that female users are seeking in wearable devices.

According to Pew Research Center, as of June 2019, around 21% of individuals in the U.S. used a wearable device. Rapid advancements in the design of these wearables are expected to propel their demand. Cloud synchronization, predictive analytics, and gamification are some of the major developments in wearable technology.

On the other hand, mobile apps are anticipated to register the fastest growth rate over the forthcoming years owing to the developing trend of precautionary healthcare and growing smartphone penetration coupled with improving internet connectivity is driving consumer adoption of smartphone health applications in the market. Continuous improvement in network infrastructure and increase in coverage are propelling the demand for women’s health mobile applications. Mobile network operators view health apps as a beneficial opportunity for investment with the growing adoption of smartphones, increasing demand to address unmet needs (women’s health gaps), rising health consciousness, and growing awareness about health & well-being, especially among women.

The availability of low or no-cost health applications addressing multiple women’s health issues, such as period cycle tracking, fertility & ovulation management, pregnancy care management, and sexual wellness, has increased the number of free trials of several apps by female consumers. Furthermore, providing features such as scheduling pill reminders, alerts, remote monitoring, medical reference, diagnostics, and e-Learning has contributed to the growth in the adoption of mobile applications.

Regional Insights

• Based on demographic analysis, the Asia Pacific followed by the Americas, accounts for the highest consumer pool. However, the penetration of FemTech apps is relatively restricted in Asia Pacific and Latin American countries.
• The presence of a large number of FemTech companies offering novel solutions and high IT literacy in North America and Europe are the factors for the adoption of FemTech solutions at all life stages.

North America accounted for the largest market share of 38.3%. North America has witnessed rapid digitalization of healthcare owing to various factors such as growing smartphone penetration as well as rising demand for health-related smart solutions. According to Mobile Economy North America 2021 estimates, the number of mobile internet users in North America in 2020 was 296 million, and it is estimated that the number will reach 323 million by 2025. Increasing adoption of smart wearable devices and mobile health applications for health tracking coupled with growing health consciousness & awareness and rising transition toward preventive care is expected to drive the growth of the North American femtech market. In addition, favorable government initiatives and increasing healthcare IT spending & advancing digital health infrastructure are among the factors driving the market growth.

On the other hand, Asia Pacific is anticipated to register the fastest growth rate over the forthcoming years. Asia Pacific femtech market is driven by increased demand for effective health technology coupled with growing digital infrastructure, increasing smartphone & wearable devices penetration, improving internet coverage, and growing health consciousness. According to The Mobile Economy 2020 by GSMA, unique mobile subscriptions in the Asia Pacific reached 2.8 billion by the end of 2019 and are estimated to reach 3.0 billion by 2025. It has been estimated that by 2025, the number of mobile internet users in the Asia Pacific will be 2.7 billion, as compared to 2 billion in 2019. Government agencies are making efforts to promote advancements in mobile health technology by providing improved 3G & 4G network infrastructure & digital health technology roadmaps and formulating policies that would attract investments in the region.

Key Players

• Natural Cycles USA Corp
• Flo Health, Inc
• Clue by Biowink GmbH
• Glow, Inc
• Google, Inc.
• Apple, Inc.
• Withings
• Fitbit, Inc.

Market Segmentation

• By Product Type Outlook

• Wearables
• Mobile Apps

• Fitness & Nutrition
• Menstrual Health
• Fertility Management/ Assisted Reproductive Technology Apps
• Pregnancy Tracking & Postpartum Care
• Menopause
• Disease Management
• Others
• By Regional Outlook
• North America
• The U.S.
• Canada
• Europe
• Germany
• UK
• Spain
• Italy
• France
• Russia
• Denmark
• Iceland
• Finland
• Norway
• Sweden
• The Asia Pacific
• Japan
• China
• India
• Singapore
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina