Market Introduction

The global femtech market was valued at USD 7 billion in 2023 and grew at a CAGR of 13% from 2024 to 2033. The market is expected to reach USD 23.76 billion by 2033. The increasing awareness about reproductive health will drive the growth of the global femtech market.

Femtech is a relatively new term for ‘female technology,’ or technology developed to solve problems related to female health and wellness. Popularized in 2016, the term is drawn from the desire of the female-led international industry to revolutionize women’s health through technology and customization. Femtech crosses different industries such as reproductive health, fertility, obstetrics, menstrual, sexual, menopausal, and general health. The two biggest factors most associated with femtech industry growth are the rise in demand for women’s health and the realization of the need for a gender approach in health. Western medicine has been found to ignore or downplay most gynaecological disorders including endometriosis and hormonal problems or even postpartum care. Femtech fills this void by creating specific innovations such as applications for tracking menstruation cycles, wearables for tracking pregnancy and femtech platforms offering access to insights into fertility and conception. A further element of femtech is the fact that it employs big data analytics and employs elements of artificial intelligence and machine learning. This improves the effectiveness of diagnostics and health applications as well as gives women the tools to manage their health.

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Recent Development

• Unfabled, a women's health and wellness platform, has announced a partnership with Boots, the UK's premier health and beauty retailer, that will bring its supplement line to 50 Boots locations. The Unfabled Essentials line offers six items that target women's health issues such as poor sleep, bloating, and low energy. The items were created using data from Unfabled Labs, the firm's consumer insights and research platform, which has over 10 million data points and insights from over 500,000 women and non-binary people, according to the company.

Market Dynamics

Drivers

The increasing awareness about female health – The awareness that women’s health require attention has unearthed diseases that for years may have been neglected or tagged as embarrassing such as endometriosis, PCOS and menopausal syndromes. Public, nonprofit and social media sources have raised awareness of such issues and encouraged women to seek personalized treatments/recommendations. This change fits with the increasing governance of healthcare consumerism where people themselves manage their health by employing technology-based solutions. Women today are interested in easy and time bound interventions like menstrual cycle tracking applications, ovulation alarms, and health monitoring devices that help them stay ahead of health problems. Other essential factor is demographic which also holds a key importance in creating demand. Due to growing populations of middle-income consumers worldwide and especially in developing countries, overall demand for health and wellness has grown. At the same time, individuals prolong childbearing, while social attitudes to fertility grow more cautious – reproductive health becomes an important issue. Further growth of the market is observed with the introduction and the following legalization and popularization of sexual health products and services, which promote the discussion of reproductive health. This synergy of awareness, consumerism and the changing demography is the reason to the global femtech market’s growth.

• Establishment Labs Holdings Inc., a global medical technology company dedicated to improving women's health and wellness, primarily through breast aesthetics and reconstruction, has announced the presentation of three-year clinical results with Mia Femtech at the 9th Annual World Symposium on Ergonomic Implants (WSEI) in Barcelona, Spain. The Mia Femtech Clinical research is IRB-approved prospective research with 100 participants between December 2020 and April 2021. In the initial three-year study of major complications, there were no reports of capsular contracture (Baker Grade III/IV) or ruptures (suspected or verified). In addition, there were no complaints of infection, haematoma, or seroma that required intervention during the research, nor were there any reports of changes in nipple or breast sensation. The three-year follow-up compliance rate was 93%.

Restraints

Lack of Funding or insurance coverage – Even though femtech is considered an essential vertical at present the focus offered to it is still significantly lesser than other healthcare segments. Femtech is still considered as insiders’ market for many investors, which contributes a weak funding approach. The absence of capital hinders creativity, new products, and femtech startups to expand their markets and in turn limit the expansion rate of the femtech industry. A firm’s ability to compete effectively is further hampered by regulatory barriers. Femtech solutions usually belong to the medical equipment or healthcare technologies, which can only be introduced to the market after passing several critical approval stages. These regulatory processes are procedural, elaborate and costly, and are thus likely to slow product release and restrict market entry. Third, the legislation is also dissimilar from one country to another, making it a problem for companies to venture into another country. This regulatory environment also exacerbates constrains to investment and innovation. Another drawback is that plans often lack insurance coverage. Most femtech products are in the form of fertility trackers, period monitoring apps or wearables and are not reimbursable by health insurers.

Opportunities

Increasing funding, research and innovation – Femtech solutions that utilise advanced solutions like AI, ML and big data analysis have introduced higher degree of precision and functionality into device innovation. For instance, wearables with biotechnological applications including biofeedback and AI algorithms are used to constantly monitor fertility changes such as ovulation and hormonal changes, and sophisticated fertility applications offer individualized feedback to users. It has captivated a lot of venture capital attention because investors also see the market opportunities for addressing these unmet needs in women’s health. Technology startups and entrants are using this funding to expand activities, build innovative solutions, and enter new markets. Most importantly, this financial inflow has enhanced competition which in one way has forced femtech solutions to be more affordable. It has been observed that governments and organisations around the world are now focusing on gender equality in the delivery of healthcare not only offering funding but also working on making the regulatory environment easier for femtech products. When combined together, these aspects contribute to the global femtech market’s growth and development during the forecast period.

• Matter Communications, a Brand Elevation Agency that combines public relations, marketing, and creative services, is holding "Amplifying Women's Health Solutions: Communication Strategies for Startups and Early-Stage Companies," a free live webinar.  Attendees will learn how to establish important messaging strategies to help executives and communication professionals elevate their solutions and services in front of key decision makers.   Investing in women's health has been shown to reduce healthcare costs while increasing economic productivity and participation; nonetheless, women continue to face a variety of care barriers that are complicated, profoundly linked, and frequently anchored in social or political contexts. The obstacles for mission-driven entrepreneurs attempting to solve these issues are as daunting.

Segment Analysis

Regional segmentation analysis

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global femtech market, with a 36% market revenue share in 2023.

North America, especially the United States, is the most saturated region for femtech. This has been mainly driven by a mature healthcare system, high investment in both healthcare and the technology industry, and an increasing clientele for women’s health. In the U.S femtech products have received a warm welcome given the rising concern for women’s health concerns, technological innovation and mobile health applications. In addition, the fact that several large femtech corporations, original startups, and tech giants are in that area adds to the dominance.

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• Flo Health, a British femtech business that develops women's health apps, has announced a huge expansion of its operations in Lithuania, adding 130 new employments. Following a €180 million Series C investment in July 2024, Flo has committed to expanding its footprint by creating 130 new jobs in Vilnius, establishing its Lithuanian office as a crucial centre for worldwide operations. As a result, the company's Lithuanian and UK offices employ approximately 350 people altogether.

Type Segment Analysis

The type segment is divided into devices, software, services and consumer products. The devices segment dominated the market, with a market share of around 37% in 2023. The dominance on such products results from the growing need for wearable and connected equipment for real-time female health monitoring, individualized woman wellness, and simplicity. Wearable technologies including fertility trackers, pregnancy start monitoring along with menstrual health trackers are the backbone of femtech because they allow women to actively keep track of their healthiness. Wearable devices do not involve monthly appointments and additional examinations, providing women with constant control and all the relevant information in their hands. Furthermore, their synchronisation with mobile applications and cloud systems improves their capabilities to provide individuals with trend lines, reminders and even to forward data to physicians as a form of telemedicine. These devices have been a point of convenience and witnessed remarkable uptake especially by women who prefer self-managing their health.

• With over 80 million global users and 1.5 million monthly active users in India alone, Flo Health, a major global period and ovulation tracker, is expanding its footprint in the nation. The Pass It On Project provides free Flo Premium subscriptions to women in 22 countries where access to safe and reliable health information is limited. Flo Health collaborated with FemTech India to launch its Pass It On Project during a special Diwali promotion. FemTech India's platform brings together a network of innovators, experts, and investors to create and interact in the femtech field.

Application Segment Analysis

The application segment is divided into pregnancy and nursing care, reproductive health and contraception, menstrual health, general health, pelvic and uterine health, sexual health, menopause care, longevity and mental health and others. The Pregnancy and Nursing Care segment dominated the market, with a market share of around 25% in 2023. Pregnancy and Nursing Care is one of the leading application niches in the femtech market because the need to improve maternal health care solutions that are personalized, affordable and effective never disappears. The pregnancy tracking apps and wearables are one of the more important tools that will enable the tracking of health status of the woman as well as of the unborn baby during the pregnancy period. They assist concerning the study of fetal growth, signs of complications, and data on nutrition, exercise and lifestyle to enable women go through pregnancy with more information. This is a growing segment due to the increasing desire of women who are pregnant or planning to get pregnant to monitor their progress and make wise decisions. Additionally, increasing popularity of digital health solutions and especially in maternity, has led to investments into pregnancy and nursing care.

• Sonio, a medical technology business focused on women's and children's health, has announced its acquisition by Samsung Electronics. The acquisition, approved by the French Ministry of Economy and Finance, is a significant step forward for Sonio and its commitment to developing healthcare solutions. Sonio, founded in 2020, has created an AI-powered reporting and workflow system tailored to obstetrics and gynaecology ultrasound. This tool helps professionals evaluate and document ultrasound exams more efficiently and accurately.

End use Segment Analysis

The end use segment is divided into direct to consumer, hospitals, surgical centres, fertility clinics, diagnostic centres, and others. The direct-to-consumer segment dominated the market, with a market share of around 39% in 2023. The Direct-to-Consumer (DTC) model can be described as the industry’s predominant end-user segment owing to the increasing demand for private, easy, and affordable health solutions. Modern consumer is more inclined to self-treatment, thereby minimizing their interaction with healthcare providers. This change is especially noticeable in femtech, which is an emerging market of digital tools, wearables, and health products women are using to own their reproductive, menstrual and overall health. Convenience is one of the important reasons that have led to the adoption of the DTC model to dominate the industry. Consumers especially women can access the femtech products directly from the manufacturers or online stores, without going through the middlemen. This direct access must also have the effect of keeping product prices down and having the added bonus of providing products specifically suited for their needs, which is a major selling point for individuals concerned about their own health. Moreover, the DTC femtech products can include pieces of software and mobile applications in the form of one product, which can help users track their Health status easily. The DTC approach is beneficial in the sense that consumer education is also easy since firms do offer more elaborate information, setting tutorials on how to use the products, and detailed customer care. These factors pushed for more accessibility to women combined with the growing health consciousness along with the increased embracing of digital solutions makes the DTC business model the most successful end-use segment for femtech.

• Zero Candida, an Israeli FemTech medical device start-up, reported that it has secured a final South African PCT patent (PCT-IL 2023050243). In addition, the company is actively seeking a global patent portfolio, with applications submitted in the United States, Brazil, and Europe. Zero-Candida T Technologies, Inc. (ZCT) is a FemTech company creating an AI smart tampon-like device based on a therapeutic light source with a certain wave-length and intensity that can treat Candida fungus with a 99.999% success rate overnight.

Some of the Key Market Players

• Adorime
• Ava AG
• Cirqle Biomedical
• Clue by Biowink GmbH
• Elvie (Chiaro Technology Ltd.)
• Flo Health Inc.
• Glow, Inc.
• HeraMED Ltd.
• Kindara, Inc.
• Maven Clinic Co.
• Modern Fertility (a Ro company)
• Natural Cycles USA Corp.
• Nurx Inc.
• TensCare Ltd.
• Willow Innovations Inc.

Report Description

• Market Introduction
• Market Dynamics
• Segment Analysis
• Some of the Key Market Players