Over the years of rapid technological advances and women's increasing focus on their reproductive health, FemTech has evolved into a term that encompasses a range of technologies, consumer-focused products, and solutions. The FemTech market is also growing exponentially, helping women close the gender healthcare gap and empowering them physically.
By examining 4 categories of technology and products including ovulation tracker, period tracking programs, daily supplements for women, and prenatal and postnatal care programs, the growth trends in the female tech market, as well as the top brands in this market, we aim to provide a comprehensive analysis that demonstrates the fundamental power that exists for technology and products to revolutionize the focus on women's health to provide more women with more directions for their health concerns and strengthen the protection awareness of themselves.
What is FemTech?
How this word suggests that FemTech is an acronym for “female” and “technology” spelled together, Ida Tin, CEO of Clue, coined the term FemTech in 2016 as a way to legitimize the women's health tech market and drive investment and innovation in the sector.
The fast-growing FemTech industry aims to provide women with a range of products and digital health solutions that can be tailored to their individual needs and provide women with a warm and welcoming service in the hope that they can take control of their reproductive health conveniently amid a hectic work and life schedule, with technologies and services that include menstrual cycle tracking, pregnancy monitoring, endocrine regulation, reproductive health, and sexual health.
FemTech Market Size
Over the past few years, there has been a dramatic growth in women's science and technology solutions due to the adoption of new technologies, business models, and pathways that have transformed women's access to health care. However, lack of investment, insufficient funding for research and development, and lack of public support remain major barriers to the development of FemTech.
According to a report by Yahoo Finance on 29 January 2024, ‘The global FemTech market size was $45.75 billion in 2022. It is expected to reach $139.51 billion by 2031, growing at a CAGR of 13.12% during the forecast period (2023-2031)’. Women indirectly have a significant impact on the growth of the whole healthcare industry, accounting for 50% of global healthcare consumers.
Approximately 90% of women are the primary healthcare decision-makers in their homes. Moreover, women have a 75% higher possibility than men to use digital healthcare tools. And 80% of healthcare providers are women, with nurses making up the majority. Women's participation in all areas of healthcare affects the adoption of femtech solutions.
Growth Trends Over the Years
Although the topic of women's health may seem to have been shied away from public discussion over the years, with advances in technology and thoughts, more and more rationalizations are being made available to women such as the topics of menopausal care, postpartum pelvic health recovery, polycystic ovary syndrome, irregular periods and many more, which driving the growth of the FemTech market.
According to FemTech Market Overview published by FemTech Health, the femtech market has grown from $134 million in 2013 to more than 1,000 related brands emerging in 2020 and is projected to double in 2025 to more than $75 billion.
Region Distribution
The distribution of companies in the Femtech market is, unsurprisingly, North America will be the region with the highest number of companies, accounting for nearly 55% of the total, with Europe in second place with 25%, followed by Asia with 8%. The Middle East and North Africa (MENA) region does not differ much from Asia, with a 7% share.
Top Brands in Women's Health
Categorized by the industries segmented under femtech, the brands that focus on women's pregnancy health and care accounted for 21% of the total number, followed by reproductive health and contraception with 17%. We have provided a summary of companies focusing on different sectors.
Mother and Baby Products Industry:
- Hatch
Hatch was founded in 2016, was called Hatch Baby originally, and has been evolving from offering stylish and comfortable maternity wear to an all-in-one sleep product brand for newborns to adults, aiming to help people find ways to sleep better, with a particular focus on women's sleep health during and after pregnancy, with stylish and functional products designed specifically for expectant mothers.
- Boppy
Boppy is a mother-and-baby brand that emphasizes comfort and has also entered the healthcare sector, their breastfeeding pillows are trusted by many hospitals in the US and more than 2,000 births take place every day in hospitals that work with Boppy. Boppy aims to help mums-to-be achieve their parenting goals.
- Medela
If Boppy is focused on mother and baby products, so is Medela, which focuses on providing comfortable and convenient mother and baby products to guard women's health after childbirth. However, their direction focuses on products in the breast pump and breastfeeding accessories category, not the nursing pillow category of the home products industry. Medela is a leader in research-based breastfeeding and baby products as well as healthcare solutions for hospitals in obstetrics and gynecology, neonatal intensive care units, wound and surgical care, and clinical education. Medela may be a choice if you have feeding and breastfeeding needs.
- Motherhood Maternity
Motherhood Maternity is a great resource for mums-to-be and new mums, offering advice on maternity clothes, nursing essentials, and pregnancy fitness. They offer practical advice to help you dress comfortably and stylishly during your pregnancy, choose the right maternity and breastfeeding clothes, and maintain an active lifestyle.
- Lansinoh
The founder of Lansinoh was a mother who developed the idea of helping other mums during her breastfeeding journey. Lansinoh has grown to become a brand known for breastfeeding essentials such as nipple creams, breast milk storage bags, and other breastfeeding essentials that they want all mothers to feel comfortable while breastfeeding.
Reproductive Health & Ovulation Tracker Industry?
- Clue
Clue’s App helps women monitor their menstrual cycle length, and symptoms, and predict their fertile window, providing users with insights into their reproductive health.
- Ava
Ava mainly produces fertility bracelets to help users monitor the ovulation window, which is accomplished through skin temperature for various body indicators. However, bracelets are similar to watches, and problems such as impermeable wrist skin and discomfort during sleep are inevitable after prolonged nighttime wear.
- Femometer
Femometer was founded in 2016, using science and data to help women understand their fertility and unique menstrual cycle patterns. We also provides high quality, body-science-compliant vitamins and supplements. We launched the Smart Ring for Women, IVY103, and other fertility tracker that accurately measure important metrics such as basic body temperature and lh hormone levels and sync seamlessly with the Femometer App to decipher your unique cycle, understanding your fertility enables you to manage your conception process with confidence.
Femometer hopes that not only mothers-to-be, but all women can have their unique journey of health guardianship, free from the constraints placed on fem tech by society's resources and the pressures placed on them by outside opinion, and be able to make every decision about their health freely, scientifically, and firmly.
Femometer is known for its smart ring, which not only provides various data for menstrual cycle tracking but also thoughtfully provides accurate ovulation prediction for trying-to-conceive(TTC) users, expanding the chances of conception to 150%, as well as real-time pregnancy monitoring for pregnant mothers-to-be, in order to safeguard the health of mothers and babies. In addition to the features for TTC and pregnant users, the smart ring also offers sleep monitoring data for users to analyze, you can check your sleep quality and sleep duration in real-time through the app.
Femometer never stops innovation, for product updates and iterations, we completely follow the user's experience, constantly debugging and optimizing algorithms based on product feedback, and have achieved more than 99% accuracy in ovulation prediction. In response to the problem of forgetting to wear your ring before going to bed or leaving the house, Femometer has updated the previous charging base design to a charging case, making it easy for you to charge your ring at any time, and will released it soon.
What FemTech Include
Ovulation Tracker
Ovulation tracker is an umbrella term for ovulation prediction products and techniques. Simply recording one's period on a mobile phone can also be called ovulation tracking, but the increasing development of wearable technology has made the ovulation tracker less reliant on the human brain's memory. The wearable ovulation tracker combines a wearable design with advanced ovulation algorithms and also optimizes the relied upon and trusted method of BBT measurement - oral temperature measurement to a non-invasive finger temperature measurement that is in contact with the skin directly. While there is still debate as to which is closer to basal body temperature, oral or finger temperature, it can be sure that basal body temperature refers to the most basic temperature of the human body in the absence of any activity, and is usually most accurately measured at night during sleep and in the morning after waking up, whereas finger temperature is more reflective of night-time temperature changes and is easier to track. Therefore, the smart ring that adopts finger temperature tracking has become an important development direction for ovulation monitoring products.
Women Supplements
Women's supplements are nutritional products that same as vitamins and proteins that are required daily. Why women should take daily supplements? Women go through the menstrual cycle once a month, the amount of bleeding during menstruation varies from person to person, and the body is more susceptible to loss of iron, calcium, zinc, and other elements than men. Women who are going through menopause or suffering from PMS can also take supplements to relieve the symptoms. For women who are preparing for pregnancy, it is important to maintain the balance of hormones in the body and to have balanced nutrition.
Recommended Supplements for Women’s Reproductive Health
·Folic Acid Folic acid (vitamin B-9) is important for the formation of red blood cells and healthy cell growth and function. This nutrient is essential early in pregnancy to reduce the risk of birth defects in the brain and spine.
·Coenzyme Q10 Coenzyme Q10 (CoQ10) is a substance that helps convert food into energy. CoQ10 is found in nearly every cell in the body and is a powerful antioxidant. It can support egg quality and ovarian function and is an important supplement for older mothers.
·Omega-3 Fatty acids are healthy fats that support your heart health. One major benefit is helping to lower triglycerides. Specific types of omega-3s including DHA and EPA (found in seafood) are beneficial for reproductive health and may support fertility by promoting healthy hormone levels and reducing inflammation.
·Myo-inositol Myo-inositol and D-chiro-inositol are most commonly found in supplements. Inositol balances certain chemicals in the body to help treat mental illnesses such as panic disorder, depression, and obsessive-compulsive disorder. It may also help insulin work better. It is often used as a supplement for women with polycystic ovary syndrome (PCOS) to help regulate the menstrual cycle and improve fertility.
Pregnancy and Prenatal Care Apps
Pregnancy is a long and arduous journey for women. In addition to regular maternity check in hospitals, the method for pregnant women to monitor the health of themselves and their babies in real-time is tracking through pregnancy tracking apps, which usually include prenatal education, nutritional and exercise guidance during pregnancy, tracking of symptoms during pregnancy, and updates on fetal development, etc. These apps comprehensively help parents-to-be to go through the journey of pregnancy on their own easily.
Conclusion
The Fem tech marketplace started as a way to drive innovation in women's healthcare tech and increase awareness of women's health guardianship. Currently, there are still few innovations in women's health, but as we have seen, in recent years, emerging women's health companies have been working hard to develop FemTech technology. Data visualization of women's health has become a reality, basal body temperature measurements are more comfortable than ever before, and highly accurate ovulation predictions are helping women to better prepare for pregnancy and take care of their cycle health. The Femtech market is set to grow even more in the future with the trend for women to take their health more seriously, and as a growing brand in the women's health industry, we at Femometer want women to be able to stay healthy and confident forever with our products.
References:
Global Femtech Market Size is Estimated to Reach USD 139.51 billion by 2031, Growing at a CAGR of 13.12%: Straits Research. Straits Research, Yahoo finance.
Femtech Makrt Overview. femtech.health.
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