Market Size of Femtech Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 7.48 Billion |
| Market Size (2029) | USD 14.67 Billion |
| CAGR (2024 - 2029) | 14.42 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Femtech Market Analysis
The Femtech Market size is estimated at USD 7.48 billion in 2024, and is expected to reach USD 14.67 billion by 2029, growing at a CAGR of 14.42% during the forecast period (2024-2029).
The onset of the COVID-19 pandemic had a significant impact on the market studied. During the pandemic, women faced several health conditions due to changed lifestyle habits, mental health issues, and increased risk of developing metabolic syndrome and other chronic diseases. As per an article published by WHO in March 2022, after the onset of the COVID-19 pandemic, women and girls are witnessing an increasing risk of economic uncertainties, a decrease in access to key support and health services, and an increase in stress in households. This is especially seen in low- and middle-income communities.
In addition, according to the source above, COVID-19 also inflicted deep economic damage on women and girls and is poised to push more female populations into extreme poverty. Also, the source mentioned that poverty rates among the female population rose to 12.5% in 2021 from previous years, and it is expected to come back to the pre-pandemic levels by the end of 2030. Such factors led to anxiety, depression, and hormonal imbalance among women. Thus, the family technology industry's major players increased their focus on developing innovative software, services, and products with the aim of providing solutions in remote areas across the world. This impacted the studied market considerably in a positive manner during the pandemic, and the market is expected to continue this growth trend over the forecast period.
Factors such as a rise in the adoption of digital health solutions, advancement in artificial intelligence and virtual assistance, and growth in investments and funding in the Femtech industry are expected to contribute largely to the growth of the studied market.
There is an increase in the focus of investors to provide funding for solutions related to women's health and well-being. This is expected to boost the market's growth. In November 2022, Maven Clinic, a teletherapy startup focused on women's health, raised USD 90 million in Series E funding in 2022's largest Femtech round, led by General Catalyst, with additional participation from Intermountain Ventures, Sequoia Capital, and CVS Health Ventures. As per the company, Maven has raised more than USD 300 million in total funding. Such investments are predicted to fuel the growth of the studied market.
Therefore, due to factors such as increased demand for reproductive health, overall increasing demand for digital health solutions, and product innovations, the Femtech market is expected to witness growth over the forecast period. However, lack of awareness about Femtech products and applications in developing nations and related cybersecurity and privacy concerns are a few factors that may have an adverse impact on the market studied.
