Digital Women’s healthcare and Diagnostics Market Size (2023 – 2030)

As per our research report, the global Digital Women’s healthcare and Diagnostics Market size was USD 2.61 billion in 2022 and is estimated to grow to USD 10.39 billion by 2030. This market is witnessing a healthy CAGR of 18.85% from 2023 - 2030. The rise in smartphone penetration, adoption of preventive healthcare, favorable regulations, and rise in funding are majorly driving the growth of the industry.

Industry Overview:

A digital health start-up focused on women's healthcare has raised $ 1.3 billion in 26 transactions so far in 2021. This has almost doubled the funding for 2020 and has four months left.  A new wave of digital health funding for women goes beyond the historical standards of pregnancy and fertility support, from primary care to the management of chronic illnesses and menopause.

Funding for the women's health sector accounted for 7% of all digital health funding from 2021 to August, the second-highest share since Rock Health began tracking in 2011, the company reports. Did. Also women's solutions. More and more companies are putting together general health, sexual well-being, and family planning to provide a richer experience for Women. This includes a portfolio of women and sexual well-being, fertility and vitamin deficiency, Rory (Ro brand) skin care, sexual well-being, and daily health support.

As investment in the market increases, trends also suggest that digital women's health startups are maturing. In 2017, the median age of women companies was 4, and no women healthcare companies reached Series C or above. Currently, the median age of women in companies in 2021 is 6, and from January to August 2021, 31% of women's digital health transactions were in Series C and above, Rock Health reports. With the growing list of digital health solutions on the market, patients are beginning to integrate care into one company, Nurx CEO Varsha Rao told Fierce Healthcare. She found that 10% of Nurx patients use the company's platform for multiple types of treatment.

COVID-19 impact on Women Digital Healthcare Industry:

The outbreak of the COVID19 pandemic has destroyed many large and small industries. COVID19 is one of the most dangerous pandemics that has infected most of the world's population. Since the outbreak of COVID 19 in Wuhan, China, it has spread very rapidly to other parts of the world. To deal with the turmoil caused by this virus, many governments have enforced strict blockade conditions that negatively impact global supply chains and negatively impact manufacturing, product sales, and delivery schedules in global markets.

 In addition, it has been confirmed that assisted reproductive technology is not mandatory in various countries during the pandemic. As a result, digital fitness solutions such as smartphone apps and wearable tracking devices are estimated to grow significantly in 2020. However, the manufacture of devices related to women's digital health has been severely hampered by the closure of the industry.

MARKET DRIVERS:

An increasing number of investment initiatives by established market players is driving the growth of the market:

One of the most notable trends in the women's healthcare device market is the launch of several investment initiatives, which are expected to contribute significantly to the growth of the market throughout the forecast period. The frenetic pace of these investments has various advantages. One of the benefits of these initiatives is the increasing availability of simpler and more cost-effective solutions, leading to wider adoption of these medical devices.

The significant prevalence of women-centric diseases is also driving the growth of the Market:

Frequent outbreaks of diseases that affect women, such as anemia, osteoporosis, breast cancer, and menopause are some of the most common diseases that women around the world are diagnosed with. In addition to being common, these diseases can be very dangerous for the patient. Due to the increasing frequency of these diseases, it becomes increasingly necessary to provide effective supplies to these patients. The need for drugs to treat these diseases continues to grow.

MARKET RESTRAINTS:

Certain women's healthcare products have negative side effects is restraining the growth of the market:

Even though women have higher rates of life-threatening diseases than men, several factors hinder the expansion of the women's health field. One of these factors is the negative impact of certain drugs on women's health. For example, taking birth control pills can cause bleeding between periods, breast tenderness, nausea, headaches, and other unpleasant side effects. These side effects can be very painful and uncomfortable for them.

DIGITAL WOMEN’S HEALTHCARE AND DIAGNOSTICS MARKET REPORT COVERAGE:

This research report on the Digital Women’s healthcare and Diagnostics Market has been segmented and sub-segmented based on type, application, and region.

Digital Women’s healthcare and Diagnostics Market - By Type

• Mobile Apps

• Wearable Devices

• Diagnostic Tools

• Others

Based on the Type, The mobile app segment dominated the market and held the largest revenue share of 65.9% in 2021 due to increased adoption of mobile apps for the menstrual cycle, fertility cycle, and pregnancy management. Meanwhile, the wearable device segment is anticipated to record the fastest growth during the forecast period, diagnostic tools are gradually gaining attention, and companies are introducing new developments.

The acceptance of these digital tools is growing rapidly due to their convenience and accessibility of the tools. Continued technological advances in digital health enable women to stay informed about their health and make informed decisions based on practical insights.

Digital Women’s healthcare and Diagnostics Market - By Application

• Reproductive Health

• Pregnancy & Nursing Care

• Pelvic Care

• General Healthcare & Wellness

Based on application, in 2021, it had the largest revenue share of 41.0%, with the reproductive health segment dominating the market and having the highest adoption of mobile applications in women's healthcare management. On the other hand, the general health and wellness segment may witness the fastest growth during the forecast period.

 The market is gradually opening up to additional women's problems such as pelvic floor care, pregnancy care, and chronic illnesses such as breast and cervical cancer. Significant advances such as home screening help with early detection of cancer, pregnancy monitoring platforms help self-monitor the required health indicators, and analysis platforms identify women at risk of preterm birth and other complications.

Digital Women’s healthcare and Diagnostics Market - By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• The Middle East

• Africa

Geographically, North America dominated the market and accounted for the largest revenue share of 41.1%. This is due to the availability of advanced technological infrastructure, better access to the latest equipment, better diagnostic and therapeutic capabilities, and higher disposable income. On the other hand, Asia-Pacific is forecast to grow the fastest from 2023 - 2030. Emerging economies in this region, including China, India, and Singapore, are showing strong economic growth.

Government initiatives and a favorable regulatory environment are continuing to drive the growth of the digital women's health market in these countries. In addition to the efforts to overcome the barrier concerning the socio-cultural approach toward women`s healthcare and diagnostics market.

Digital Women’s healthcare and Diagnostics Market Share by company:

Companies like

• HeraMD
• ISONO Health
• Clue By Biowink
• Charo Technology Ltd.
• Natural Cycles
• Ava Science, Inc.
• Glow
• Lucina Health
• mobileODt Ltd
• Brater
• Athena Feminine Technologie
• Plackel Tech

Recently Women's digital health is a highly comparative niche and includes products, services, devices, diagnostics, and software focused on women's needs such as reproductive health. , fertility and sexuality. Many service providers are exploring artificial intelligence, machine learning, and the Internet of Things to develop digital health apps for women.

These companies are working tirelessly to deliver technologically advanced apps and devices that address women's health concerns in a personalized and effective way. With 200 companies working in this field, the market is slowly growing. However, with target consumers representing approximately 50% of the global population, there is plenty of scope for new entrants and expansion of existing businesses to satisfy the market.

NC Birth Control, developed by Natural Cycles, was the first application to receive approval from US FDA in 2018; the application can be used as a method of contraception and helps in regularly tracking the menstrual cycle.

Suppliers invest in research and development to develop technologically advanced systems that give them a competitive advantage over other providers and provide an economic benefit to the industry. The industry is expected to see several mergers and acquisitions over the next few years. Companies are taking proactive steps to gain market share and provide a diversified product portfolio.

NOTABLE HAPPENINGS IN THE DIGITAL WOMEN’S HEALTHCARE AND DIAGNOSTICS MARKET  IN THE RECENT PAST:

• Product Launch - In April 2021, Hims & Hers is a telehealth company that sells prescription and over-the-counter drugs online as well as personal care products. The company started with four products and has since added a women’s health business, called hers, that focuses on birth control, sexual health and skin, and hair care products.
• Announcement - In 2022, Elvie declared the availability of an NHS supply chain that uses Bluetooth for availing biofeedback therapy to women all around the world was published in 2017 AT THE International Continence Society Conference.