Worldwide Femtech Market Expected To Reach Highest CAGR by 2027 | Alyk, Inc., Aytu BioPharma, Inc., BioWink GmbH, Sustain Natural, Bloomlife, Glow, Inc., etc.
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The COVID-19 outburst has raised awareness about women’s health needs. The pandemic has also highlighted the scarcity of solutions available to specific women's health problems, such as fibroids, polycystic cervix syndrome, thyroid problems, endometriosis, pelvic health, premenopausal and menopausal care. Although digital health solutions were used in terms of virtual care and were promoted during the pandemic, these areas of women’s health have not yet received the attention they deserve.
In January 2021, Ovia Health, a virtual family health platform, partnered with hospitality and entertainment company MGM Resorts International to provide employee benefits specifically designed for high-risk pregnancies. This benefit provides free WiFi-enabled blood pressure cuffs or hypertension plans for pregnant employees participating in Ovia Health pre-eclampsia and entering their details in the Ovia Pregnancy app. The app will then alert employees to any relevant data trends.
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On the basis of application, pregnancy and nursing care will dominate the market during the forecast period owing to favorable government policies for improving women’s health, creating awareness, rise in demand for advanced devices, and consumables used during pregnancy and nursing care will drive the femtech industry worldwide.
The Asia Pacific is anticipated to have a higher share due to the large patient pool having chronic and infectious diseases in emerging economies such as India, China, Japan. Also, initiatives are taken by the government to support and elevate awareness regarding women’s health in these economies.
Some of the key players operating in the global femtech market: Alyk, Inc., Aytu BioPharma, Inc., BioWink GmbH, Sustain Natural, Bloomlife, Glow, Inc., NaturalCycles Nordic AB, Ovia Health, Flo Health, Inc., HeraMed Ltd.
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