Femtech Market 2024 - By Industry Outlook, Future Trends, Growth Analysis And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Femtech Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The femtech market size has grown rapidly in recent years. It will grow from $36.52 billion in 2023 to $41.97 billion in 2024 at a compound annual growth rate (CAGR) of 14.9%. The growth in the historic period can be attributed to increasing women's health awareness, changing societal attitudes and taboos, demand for personalized women's healthcare, shift in women's health conversations, empowerment and informed decision-making.

The femtech market size is expected to see rapid growth in the next few years. It will grow to $81.24 billion in 2028 at a compound annual growth rate (CAGR) of 18.0%. The growth in the forecast period can be attributed to evolving demographics and aging population, integration of digital health platforms, rise of remote and telehealth services, focus on fertility and reproductive health, preventive and wellness-oriented solutions. Major trends in the forecast period include AI-powered women's health apps, wearable health devices for women, mental health and wellness apps, digital pelvic floor training, investment in femtech startups.

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Market Drivers and Trends:

The rise of digital healthcare is expected to propel the growth of the femtech market. Digital health care technologies use connectivity, software, and sensors for health care and related uses. For instance, in October 2022, according to a report published by the Centers for Disease Control and Prevention, a US-based government agency, 37.0% of adults reported having utilized telemedicine services within the previous 12 months in 2021. Notably, women (42.0%) exhibited a higher likelihood of using telemedicine compared to men (31.7%). Moreover, there was a positive correlation between age and telemedicine usage, with the percentage of adults who engaged in telemedicine rising with age. Specifically, usage rates increased from 29.4% among adults aged 18-29 to 43.3% among adults aged 65 and above. Therefore, the favorable consumer perception and tangible investments in digital health are expected to propel the femtech market growth.

Advanced technology products are a key trend gaining popularity in the femtech industry. Companies are focusing on developing products that generate accurate results and reduce the handling time of products. For instance, in 2021, Lia, a US-based company, launched the world's first flushable and biodegradable pregnancy test device made from plant fibers and is 100% plastic-free, which can biodegrade in just ten weeks.

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Major Key Players of the Market:

Totohealth Inc., LifeSense Group, Lumenis Ltd., Maven Clinic, Kindbody Fertility & Women's Health, Flo Health Inc., Minvera Health Inc., Natural Cycles, NURX Inc., BioWink GmbH, Elvie Inc., Nuvo Group LLC, Lia Diagnostics Inc., Bloomlife Inc., Kasha Global Inc., Proov, Athena Feminine Technologies, Ava Science Inc., Joylux Inc., MedAnswers, OCON Healthcare LLC, Flyte by Pelvital, Inne Inc., Tia Health, Gennev, iSono Health Inc., OOVA Inc., Sera Prognostics Inc., Cora Health Inc., HeraMED Inc., Sustain Natural, LactApp Women's Health, Trak Fertility, Willow Pump Company, Yono Labs, Zava

Femtech Market 2024 Key Insights:

• The femtech market size is expected to see rapid growth in the next few years. It will grow to $81.24 billion in 2028 at a compound annual growth rate (CAGR) of 18.0%.
• Digital Healthcare's Impact On Femtech Market
• Advanced Technology Products For Accurate Results And Reduced Environmental Impact
• North America was the largest region in the femtech market in 2023

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