Personalization, Favorable Funding Climate, Incorporation of AI and Unmet Needs in Women’s Health
The Global Femtech Market is expected to clock US$ 1.9 billion by 2031 owing to favorable funding climate, incorporation of AI in femtech, rising demand of in-home testing, unmet needs in women’s health, growing trend towards personalization, increasing awareness about women health & well-being and rising adoption of digital health solutions and wearable devices.
Clairvoyance Research conducted an in-depth market analysis of the global femtech market. The study comprehensively analyzes the market from different perspectives and provides granular insights on hot revenue pockets, headwinds & tailwinds impacting the market, quantitative (market size & forecasts) and qualitative analysis from ‘Offering, Application, End-user and Region’ perspective, business models, key strategies and competitive landscape.
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Personalization Approach – Key To Unlock Femtech’s Disruptive Potential
Increasing prevalence of various diseases among women has increased the demand for more effective and personalized treatment. Launch of convenient & easily accessible home testing kits, remote monitoring devices and health indicator software’s by various companies has improved the access to healthcare. As ~80% of women are more likely to use digital tools for their healthcare needs compared to men, various companies are offering personalized communication under their direct-to-consumer marketing campaigns. The personalized approach is likely to support women who might find it embarrassing to discuss their health topics with a medical provider.
The global femtech market has been analyzed from four main perspectives: Offering, Application, End User and Region.
Key Takeaways – By Application Perspective
Based on application, the femtech market has been segmented into fertility & reproductive health, pregnancy, maternity & nursing care, pelvic & uterine health and general healthcare & wellness. The fertility & reproductive health is the largest application segment of the femtech market. Growth of the segment is driven by growing conceiving issues amongst women, choice of women to have a baby at a later age, favorable pouring of funding from investors, increasing awareness about menstrual health and growing adoption of different solutions for tracking menstrual cycle & monitoring symptoms related to menstrual health.
Rising penetration of AI in fertility & reproductive health segment is another key factor driving fertility & reproductive health application segment. There has been consistent increase in the number of reproductive health focused AI companies. These companies offer solutions that help in better understanding of reproductive health at all stages which in turn helps to monitor cycles and fertility windows.