Looking ahead, the global Femtech market is predicted to grow at a CAGR of 11.1% during the forecast period of 2022-2030. This is largely due to the increasing awareness of the importance of women’s health and the ever-growing number of products and services available in the Femtech space. Some key drivers for the Femtech market include the rising incidence of chronic diseases among women, growing awareness about preventive healthcare, and increasing access to affordable healthcare. Along with this, some key segments that are expected to see strong growth include fertility tracking and monitoring, prenatal care and childbirth, and post-menopausal health.
In addition, there has been a significant increase in venture capital (VC) funding for Femtech startups in recent years, which is helping to fuel innovation and growth in the sector. This enables companies to develop new and innovative products and services that can address the needs of women across the globe. Overall, it is clear that the Femtech market is rapidly expanding and offers excellent potential for growth in the years ahead. This presents a great opportunity for investors, entrepreneurs, and consumers alike. Given this growth, here’s what many women can expect to see in the Femtech market in 2023:
Breast Cancer Screening
In recent years, there has been a growing awareness of breast cancer. This is because breast cancer is the most common type of cancer among women. The early detection of breast cancer can significantly improve the chances of successful treatment. One way to do so is through breast cancer screening. It involves detecting signs of the disease before symptoms worsen or cancerous tumors to further develop. For this purpose, digital mammography is the most common breast cancer screening tool available. It uses low-dose x-rays to take images of the breast which can detect small tumors that cannot be felt during a physical examination. They can also help to find changes in the breast tissue that may indicate the presence of cancer such as calcifications and lumps. Other visible signs of breast cancer include changes in the appearance of your breast, thickening in your breast, discharge from your nipple, and changes in the skin of your breast. If you notice any of these, it’s essential for you to get a digital mammogram exam as soon as possible. This will reveal whether you have breast cancer and, if so, what treatment you’ll need.
Advances in Femtech led to the development of many apps and gadgets that can help women better understand their menstrual cycles. These fertility trackers come in various forms, from simple apps to sophisticated wearable devices. Some popular fertility tracker apps include Daysy, Glow, and Ovia. These trackers use data from a woman’s daily basal body temperature and menstrual cycle to create a fertility calendar. They can also provide insights into when a woman is most likely to conceive. Many women find fertility trackers to be helpful when managing their reproductive health. For example, some trackers can help women identify patterns in their cycles that may indicate ovulation or other fertility problems. Suppose you notice an irregular pattern in your cycle. In that case, you can use a fertility tracker to log this information and share it with your doctor. This can help you and your doctor decide about your reproductive health and seek treatment if necessary. Moreover, fertility trackers can also be used to plan pregnancies or to avoid pregnancies altogether. You do this by tracking your cycles, avoiding intercourse, or using contraception during your most fertile days.
Telehealth in Women’s Healthcare
Telehealth is a rapidly growing field in the medical industry, and it is especially prevalent in women’s reproductive healthcare. This is because telehealth can provide a host of benefits to patients, including improved access to care, improved quality of care, and improved cost efficiency. Many virtual clinics for women became more accessible, especially during the pandemic. One area where telehealth is particularly beneficial is in the treatment of reproductive health issues and in the treatment of postpartum depression (PPD).
Additionally, Femtech is also making strides towards providing better healthcare services within marginalized communities that have traditionally been underserved. For example, there are now many startups focused on better providing services to women of color and members of the LGBTQ+ community. This is a significant development, as it ensures that all women have access to the quality care they deserve.
The Femtech industry is projected to grow in the next few years. With it comes new opportunities for businesses and consumers alike. If you’re a consumer interested in using Femtech products, look for these technologies as they become more prevalent in everyday life. By understanding where the industry is headed, you can stay ahead of the curve and make more informed decisions about your health and well-being.