FemTech Market Overview
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FemTech (Female Technology) is technology empowering women’s health and well-being. This term is often applied to products, services, applications and software, medical devices, telehealth, wearables, hardware, therapeutic drugs, vitamins and supplements, digital platforms, and consumer products designed to improve or support women's health, including but not limited to those who identify as cisgender, transgender or sexual minority women.
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Globally, about 37% of the FemTech market belongs to Pregnancy & Nursing and Reproductive Health & Contraception subsectors; however, it is not only limited to these categories.
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Other important FemTech subsectors include Menstrual Health, Pelvic & Uterine Health Care, Sexual Health, Women's Wellness, Menopause Care, Longevity, General Health Care, and Mental Health.
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The past few years witnessed a steep rise in FemTech solutions due to the adoption of new technologies, new business models, and new avenues, thereby transforming the way women access healthcare.
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Lack of investment remains the key barrier for FemTech development along with insufficient R&D funding and lack of public support. The negative impact of economic slowdown on FemTech along with taxation gradually weaken it.
FemTech Industry Development
The FemTech sector is developing fast and has impressive potential. Founders are dedicated to normalizing the conversation around taboo topics and putting more innovation around menopause, pelvic health care, chronic disease management, sexual wellness and education, and urinary health.
Source: (1) Pitchbook Data; (2) Statista; (3) Arizton Advisory & Intelligence
The Global FemTech Economy
Source: (1) Arizton Advisory & Intelligence; (2) IHS Markit PM; (3) World Bank
The global FemTech Market Size accounted for $40.2 billion in 2020 and is projected to grow at an average CAGR of 13.3% from 2020 until 2025 to reach $75.1 billion. Despite increasing interest in recent years, the industry remains underestimated and has high growth potential.
Market drivers:
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Growing interest of VCs and Angel investors;
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Inclusive solutions for women's health and well-being;
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Increasing demand for reproductive health;
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Overall increasing demand for digital health solutions;
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Normalizing the conversation around taboo topics in women’s health;
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Promoting women's sense of self-worth;
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Product innovations and partnerships to widen offerings.
FemTech Companies' Regional Distribution
North America is the undisputed leader. Accounting for nearly 55% of the total number of FemTech companies, it surpasses other regions by a wide margin. Europe is the second, at 25%, followed by Asia with 8% and MENA with 7%.
The US and the UK are the two countries with the highest number of FemTech companies.
FemTech Companies by Subsector
Accounting for 21% of the total market, Pregnancy and Nursing (e.g., Baymatob and Expectful) is the largest subsector of the FemTech Industry by the number of companies. It is followed by the Reproductive Health and Contraception subsector (e.g., Carrot and Phexxi), which accounts for 17%, and Menstrual Health (e.g., Gals Bio and March Health) together with General Health Care (e.g., Syantra and Tia), both occupying the third place with 14% each. Together, these top subsectors comprise 65% of the entire FemTech market.
FemTech Companies by Product Type
The FemTech sector primarily addresses women’s health, including consumer products such as innovative femcare, a wide range of devices addressing Sexual Health and Reproductive Health along with software and apps for pregnancy and nursing care, women’s wellness, Longevity, and menstrual health. Products for dealing with menstrual flow – such as reusable absorbent underwear, the reusable cup, and flushable pads – are now competing to provide the safest, most convenient, affordable, and environmentally friendly option to the hundreds of millions of people worldwide who are actively in need of them.
FemTech Subsectors and Product Types
The sector breakdown shows that the Consumer Products segment leads only to Menstrual Health, Sexual Health, and Women’s Wellness.
In the General Health Сare subsector, 31% of companies address diagnostic solutions. Mental Health is dominated by Apps and Software (33%).
Revenue Breakdown by Subsector
The FemTech industry is a diverse and rapidly growing market that includes early-stage startups, middle-market companies, and publicly traded companies. However, 85% of all FemTech companies generate less than $10 million annual revenue each.
