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Femtech Market Size
FemTech is one of the growing industries in the health-tech industry. It has invested over a billion into its healthcare advancements and is expected to grow to $50 billion by 2025. However, information about its current market size and projected growth is not available due to the private nature of the company.
Methodology
We started the search for the market size and projected growth of the FemTech sector in the United States by using industry reports from Reuters, CBInsights, and others. These reliable websites are known to give the current market size of a specific industry sector, and if not, they usually deliver an estimated percentage of the market share. However, what we were able to find was the estimated funding of FemTech startups in the years between 2014 and 2017. These startups are known to reach $1 billion. This information was not enough to give a general conclusion about the topic, so we decided to broaden the scope of the research.
We looked into the global FemTech market hoping that we would find worldwide estimates of the market size or the information about its CAGR, but what we found were articles related to the market size in the future years ($50 billion by 2025) and other relevant data about the actual market size, however, nothing that would give a general conclusion. We decided to broaden the search even further by searching the global digital health market size, hoping that we could find actual information about the market size or the market share of FemTech. We were able to find that the digital health market size was valued at $86.4 billion in 2018, and is expected to experience a 29.6% CAGR in the years of 2019 to 2025. Given this information, we decided to triangulate the required information by calculating the percentage that the United States represented in the global digital health market, and once we have the US digital health market, we would then calculate which percentage represented the FemTech market in the US. If we had gotten such data we could then use the CAGR calculator to provide the current market size and the growth rate. However, we only had limited information about these topics because the information that was available were locked behind a paywall.
Additionally, we found that the FemTech market size could be broken down into eight categories. We decided to search for this information. We were planning to sum up all the categories to get an approximate market size of FemTech in the US. However, the information was minimal, and some were not oriented towards digital services, while some data was for FemTech outside the US. We then concluded that the information about the current market size and the CAGR of FemTech is not publicly available.
FemTech
FemTech is an industry that is shattering gender taboos by empowering women and helping them take control of their health and their autonomy. The company is predicted to be one of the biggest disruptors in the health-tech industry. It has invested $1 billion in fundings during the last three years and is expected to grow to $50 billion by 2025.
FemTech is empowering by women through empowerment, improving health, saving money, giving advantaged to the disadvantaged, combating gender taboos, and giving women the investor seats. Furthermore, the company is using digital health applications like wearable AI, mobile apps, diagnostic tools, and monitoring software to help combat the existing problems of fertility, menstruation, mental health, sexuality, and chronic illness. Women need FemTech because 90% of women are the leading healthcare decision-makers in their family, and because they are the primary spenders of household healthcare (80%). Additionally, it has been found that 29% of working-age females spend more into healthcare compared to men in their age group. In addition to this, half of the global healthcare consumers are women, and they are the primary caregivers for the elderly and children. 60% of women internet users also look online for healthcare information, and they are more likely (75% chance) to use digital tools for healthcare than men.
FemTech Solutions
FemTech has various solutions to increasing problems that women experience each day. They are treating infertility through startups providing IVF, egg freezing, and other medical treatments for female infertility. The company is also tackling menstruation and fertility tracking through mobile apps. Aside from this, the company also provides menstruation care goods such as startups offering pads, tampons, and CPG items for managing their menstruation. It is also promoting women’s sexual wellness through products like lubricants and other sexual related items that could help women improve their sexual wellness. The company is also promoting an at-home fertility monitoring device by using hardware devices for women to track their fertility at home. FemTech is also concentrating on overall women health care such as pregnancy and nursing care, pelvic healthcare, and general healthcare. FemTech is doing this through medical care and diagnostics products for pregnant women, tech-enhanced breast pumps, and pelvic-care related products like Joylux and Evofem.