|Femtech - Digital Revolution in Women’s Health|
|Enabling Technologies Transforming Women's Health|
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With 50% of the global population as target customers and a market potential of $50 billion by 2025, Femtech is hailed as the next big 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. Femtech (female technology) 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 health is often side-lined as a niche market; however, tides are changing and this can be attributed to the rise of the ‘she-conomy’, where women are not only playing an increasingly influential role across the healthcare continuum, but also have higher purchasing power. For instance, the economic contribution of women is expected to outpace the combined GDP of China and the United States by 2020. Furthermore, top global campaigns that are focusing on women’s issues (such as body positivity or menstruation realness) echo a pertinent need to put health and wellness at the forefront.
Women are increasingly playing an active role in their care delivery and are also primary caregivers¬—especially for the elderly and children. Healthcare professionals and providers also recognize the need to enhance positive outcomes for women patients through constant engagement and follow ups; especially as women are key influencers in healthcare decision making and play an important role in compliance and adherence.
Femtech Market- Digitizing Women's Health - https://store.frost.com/femtech-market-research.html.
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