Market Insights on Femtech covering sales outlook, demand forecast & up-to-date key trends
As per an analysis by FMI, the global femtech market revenue is estimated to reach a valuation of US$ 940 Mn in 2021. Owing to increasing awareness in terms of personal care, reproductive health, and genital hygiene among women, the market for femtech is anticipated to total US$ 3.8 billion by 2031, expanding at a CAGR of 15% during the forecast period 2021 to 2031.
Rising incidence of chronic and infectious diseases among the female population is a primary factor, driving the market growth. According to a report by the World Health Organization (WHO), around 311,000 women fatalities were recorded due to cervical cancer in 2019. While more than 1 million incidences of sexually transmitted infections (STIs) are recorded each day, across the globe.
The increasing prevalence of cancer, sexually transmitted diseases, menstrual and chronic diseases in the female population, combined with current technological developments and the digitization of Femtech diagnostic and monitoring solutions, are expected to create profitable market growth opportunities.
On the service side, the diagnostic segment is expected to dominate the global femtech market. Thanks to the emergence of artificial intelligence in diagnostic tools and the increasing prevalence of women's diseases, this segment is expected to experience a CAGR demand increase of 13.3% during the assessment period.
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"Leading service providers are focusing on providing direct-to-customer services using digital and online portals to capitalize on the increasing demand for diagnostics and monitoring solutions owing to growing awareness regarding female health," says the FMI analyst.
Key Takeaways from Femtech Market Survey
Key Drivers
Key Restraints
Competitive Landscape
Key companies operating in the femtech market have adopted the strategies such as launching new products and engaging into strategic collaborations and agreements with leading medical institutes and universities associate with clinical developments to offer advance healthcare solution for women. For instance,
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce)
Femtech Market , Femtech Market Size , Global Femtech Market , Demand for Femtech Market , Femtech
Jul 05, 2022