FemTech is the new buzzing term in the MedTech arena. The term “FemTech” was coined by Ida Tin, Danish Internet Entrepreneur, co-founder & CEO of a popular women’s health tracking app. Comprising a wide range of products & several breakthrough technologies the segment is experiencing an exponential growth. Some of the most promising segments in the FemTech domain are Pregnancy & Nursing, Reproductive Health, Longevity, Healthcare, Beauty, and Personal care.
Read More: Latest Trends in Medical Device Contract Manufacturing – Johari Digital Healthcare Ltd.
Devices specific to each segment in FemTech Industry
- Reproductive Health: Devices belonging to sexual healthcare, fertility, and more belong to this category.
- Healthcare: Wearable devices that aid in cancer detection, heart health detection, and hormonal balance evaluation all come under this category.
- Pregnancy & Nursing: Devices used in Pre, Post, and during-pregnancy care come under the category of Pregnancy & Nursing devices.
- PharmTech: Technology concerned with pharma solutions in the domain comes under the category of PharmTech.
- Longevity: Devices concerning the detection & cure of age-related disorders come under the longevity category.
- Beauty: Technologies for skin care, fitness, and cosmetic uses comes under the beauty segment. This is one of the fastest-growing segments in the beauty industry.
Most Trending FemTech Technologies in 2023
The FemTech market stood at 30 billion in 2022 and will rise to 16% CAGR through 2023-2032. The segment comprises wearables, hardware, therapeutics, consumer products, and more. The subsectors under the FemTech category include pelvic & uterine Health care, Women’s Wellness, Mental Health, Menopause care, and General Health Care.
Fetal Monitoring Device
Predicted Market Growth: $2,206 million (about $7 per person in the US) in 2015 & is expected to reach $3,854 million (about $12 per person in the US) in 2022 (CAGR: 7.1%, Between 2016-2022)
Fetal Monitoring Device has been around for ages but with time there are numerous modifications. The floor model has been modified into portable fetal monitoring devices to make pregnancy monitoring easy & affordable. The devices offer medical-grade fetal & maternal monitoring solutions for use at hospitals or homes.
Mental Health Devices
Predicted Market Growth: $383.31 million in 2020 & is estimated to reach $537,97 million (about $170 per person in the US) by 2030 (CAGR: 24.69%, Between 2021 -2030)
Mental health devices based on relaxing technologies like CES, Electrostimulation, and various other neuromodulation techniques are playing an essential role in providing accessible tools for checking mental health. NishCalm is one such device based on CES Technology to soothe users’ minds & provide impactful relief from insomnia, anxiety, and restlessness. Many other sensor-based devices are available to track sleep and provide regular health analysis based on the sleep cycles of an individual.
Pelvic & Uterine Healthcare
Predicted Market Growth: USD 245.76 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.6% from 2021 to 2028
The pelvic & uterine healthcare devices hold great importance in the women’s healthcare segment. Portable uterine & healthcare devices are being designed to accelerate point-of-care detection and prevention of cervical cancers in women. The devices are great for use in remote locations where healthcare or hospital facilities are underdeveloped.
General Women Healthcare Devices
Predicted Market Growth: US$ 30.86 billion in 2021 and is expected to reach over US$ 62.34 billion by 2030 (CAGR of 8.1%, Between 2021 to 2030)
Women undergo numerous ups & downs in their general routine. Due to daily hustle, it’s often difficult to take care of oneself. Numerous developers in the segment are taking challenging assignments to develop products and devices relevant to women. The devices are being developed to cater to monthly healthcare issues amongst women. These include menstrual tracking, pulmonary care, thyroid level detection, weight management, aesthetics & beauty management & more.
Read More: Medical Device Industry segments growing exponentially
Synopsis
Johari stands firmly with the initiative of #Embracing Equity in all spheres of life. As the Women’s Healthcare Segment is experiencing a massive transformation, we invite budding entrepreneurs in the FemTech space to align with us as their FemTech Device Contract Manufacturing Partner to successfully take their products to Market.
Click here to schedule a call with us today!