These technologies can reduce healthcare costs, decreasing overall cost burden of a country while elevating healthcare standards and quality of life for women
In an era where the healthcare industry is moving towards personalised care solutions and the acknowledgment of inherent biological differences, the femtech (female technology) market revenue is expected to reach $1.1 billion by 2024, growing at a compound annual growth rate (CAGR) of 12.9 per cent. Through solutions targeting early diagnosis and leveraging connected healthcare services, these technologies can reduce healthcare costs, decreasing the overall cost burden of a country while elevating healthcare standards and quality of life for women.
Frost & Sullivan’s latest research, Growth Opportunities in the Global Femtech Market, Forecast to 2024, covers over 190 core and non-core femtech companies and their solutions for the following segments: menstrual care, fertility (conception and contraception support, affordable in vitro fertilisation), pregnancy care, menopause, and geriatric care, and general health and wellness. Pharmaceutical drugs and cancer solutions are not included in this study.*
“Femtech companies all over the world, such as Nabta Health, Kasha, UE Lifesciences, HeraMed and BloomLife, are addressing regional women’s unmet needs with innovative business models and approaches,” explains Siddharth Shah, Programme Manager, Transformational Health Practice, Frost & Sullivan. “These companies are primed for significant growth if they manage to scale their low-cost solutions across all regions, customising them when necessary.”
Femtech companies and organisations operating in this sector should explore the growth opportunities in:
- Developing connected health solutions for pregnancy care with affordable pricing models and doctors’ support.
- Expanding reach to low-income regions such as Africa and Asia, which are also the locations with the highest female populations.
- Harnessing innovation from the increasing number of start-ups targeting the space in Europe.
- Meeting the unmet needs of women with culturally appropriate solutions, such as wearable devices or leveraging technologies such as
- Reaching the previously inaccessible women customers in rural areas with digital health technologies such as smartphone apps, which would be successful because of increasing internet penetration, even in less-developed regions such as
- Reimbursing telehealth and remote patient monitoring solutions in the United States through mobile technology.
“Growth Opportunities in the Global Femtech Market, Forecast to 2024” is a part of Frost & Sullivan’s Transformational Health Growth Partnership Service programme, which helps organisations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
* The “Femtech—Time for a Digital Revolution in the Women’s Health Market” executive briefing, which includes pharmaceutical drugs and cancer solutions, shows that femtech’s potential is expected to reach $50 billion by 2025.
- Advertisement -