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The Market is Underpenetrated but has the Potential to Reach $9.4 Billion by 2024
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Femtech is an emerging term and, as is the case with most new concepts, is poorly understood. While some relate Femtech only with products unique to the female anatomy (including consumer products), others dismiss it as just another term for a group of existing solutions. Frost & Sullivan believes it is a unique space and a place for new growth opportunities –one with the potential to cross $8 billion by 2020 and even $9 billion by 2024 (without considering the potential for cancer or pharmaceutical solutions) – if penetration and adoption of such solutions is rapid enough.But what is Femtech? Frost & Sullivan defines Femtech as technology solutions such as device, diagnostic, product, software, app or services, or any combination thereof, that cater to the needs of women’s health. Keeping women’s health at the center, we follow a woman’s life to see where Femtech solutions make an impact, and therefore segment the market applications by the age of the woman. In that sense, Pre-menopause as our first segment covers the areas of menstrual care, fertility solutions (conception, contraception, egg freezing and in-vitro fertility solutions) and pregnancy care; the Menopause segment covers symptom management solutions. Additionally, we also cover solutions under the General Health & Wellness segment, as well as Cancer and other Chronic Diseases segment. Our analysis covers over 190 core and non-core Femtech companies and their solutions, representing a revenue of $601.2 million in 2019, which also means the penetration of these solutions is quite low. While low penetration is an expected outcome of a nascent market, we also attribute it to several other socio-cultural and infrastructural issues surrounding women, especially in lesser developed regions of the world, while noting the fact that today’s demographic scenario points to a majority of the world’s women living in the developing regions.Investments across key Femtech segments through venture capital funding amounted to $1.69 billion in H1 2019. The solution formats include medical devices, wearables, apps on smartphones or plain services (and in some cases, a combination). This study provides a glimpse of the background and the current trends in the Femtech industry that are driving the need for women-specific solutions, notes the market revenues as well as the potential of the market, and delves deeper in to segments and sub-segments to highlight specific problem areas, solutions that cater to those issues, and their geographic distribution, application focus and target end-customers. It also qualitatively notes the impact on quality of life and the cost of care of these solutions, and their current penetration under each segment. Also covered are short profiles on some innovative companies in this space, other insights into Femtech that aren’t necessarily covered in the rest of the study, and 11 growth opportunities that span the entire market.
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