Femtech Market- Digitizing Women's Health
With the rise of digital convergence, the overlap between women's health and digital health is increasing by the day, and it is imperative to capitalize on this strategic sweet spot. Frost and Sullivan recognizes the immense market potential in this area- Femtech (or Female technology) that refers to software, diagnostics, products, and services that use technology to improve Women's Health. Femtech involves the use of digital health to motivate patients to access and use applications for managing women’s health issues. Women’s healthcare issues are coming to the forefront with an increased focus to differentiate care provided for the healthcare issues specific to women and women's health issues are no longer fit into the frameworks of men's health. The need for inclusiveness of women in clinical research and trials, product development and targeted marketing is increasingly being recognized today. Women are keenly taking a proactive role in decisions concerning their day-to-day-life such as their education, career, marriage, family planning, management of chronic conditions and elderly care. Self-management and continued engagement are core to managing women’s health issues, and Femtech has the power to add value across the care continuum.
With 50% of the global population as target customers and market potential of $50 billion by 2025, Femtech is hailed as the next significant phenomenon in the women’s health market and the time has come for clinical diagnostics, bio-pharmaceuticals, and medical device companies to tap into this market opportunity. There is an imminent need for healthcare companies to understand the market potential for Femtech and to formulate a strategy for segmenting, targeting, and positioning the women’s healthcare products and services. Frost and Sullivan has expertise in the critical Femtech application such as reproductive health, pregnancy and nursing care, pelvic and uterine healthcare, general healthcare and wellness, and can serve as growth partners in identifying opportunities in Femtech.
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