Women’s Digital Health Market To Witness a CAGR of 16.7% By 2032 | DataHorizzon Research
Women’s digital health products will witness huge demand in the forthcoming years.
Fort Collins, Colorado, Feb. 06, 2024 (GLOBE NEWSWIRE) — The Women’s digital health market size was valued at USD 2.3 Billion in 2022 and is anticipated to reach USD 10.8 Billion by 2032 at a CAGR of 16.7%.
Women’s digital health involves initiatives and technology platforms, including mobile apps and wearable software devices that exclusively help enhance female health and wellness. The women’s digital health market uses software, diagnostic tools, and apps to provide women with primary healthcare diagnosis and treatment facilities online. These services are usually called femtech services and enable the provision of all major women’s health issues like menstrual health, pregnancy-related issues, health check-ups, and sexual and mental health.
A significant factor contributing to the market growth is the growing awareness among women for their health. With the growth in access to education and awareness among women regarding their health and wellness, a significant change has been observed in their choices regarding their health and diet. According to the Population Reference Bureau, educating girls and women has resulted in women making better decisions regarding family planning, diets, and wellness, being more aware of their health issues, and actively working on the same. Also, it has been observed that the prevalence and incidence of many chronic problems are rising among women, which is also a factor contributing to the growth of women’s digital health market.
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The global women’s digital health market report is segmented based on type, application, and region. The market is segmented as mobile apps, wearable devices, diagnostic tools, and others based on type. The mobile app segment holds a significant share as many medical companies and start-ups invest in building apps to solve patients’ queries. The demand for application-based services is expected to attract a wider user base, creating a niche market in the forthcoming years.
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Women’s Digital Health Market Report Highlights:
- The global women’s digital health market is anticipated to reach USD 10.8 Billion at a CAGR of 16.7% by 2032.
- A significant factor contributing to the growth of women’s digital health market is the rise in internet and social media use worldwide. Social media has also influenced this growth as many gynecologists and other healthcare influencers are actively posting about women’s health and ways to ensure good health in case of any issues, thus creating awareness.
- Eurostat says women use the Internet to seek health information more than men. Around 68% of women use the Internet for medical information or assistance.
- North America holds a significant share in the women’s digital health market due to wider awareness and adoption of these tools and applications in the region. The United States has a substantial share in this region due to the rising cases of women getting detected with chronic diseases in this region.
- Some prominent players in the women’s digital health market report include Biowink, HeraMED, MobileODT, Prima-Temp, Lucina Health, Braster SA, Plackal Tech, Natural Cycles, iSono Health, Ava Science, and others.
Industry Trends and Insights:
– In December 2023, WHO released a study on women’s digital health survey conducted in Sweden. The study concluded that women are more vulnerable in the digital space than men. The study was conducted with a particular focus on demographics like socioeconomic status, age, migration background, and chronic health conditions.
– In the Indian context, the Indian digital health sector has witnessed huge expansion and investments. India has emerged to be a hub for investing in women’s health startups with an impending economic potential.
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Women’s Digital Health Market Segmentation:
By Type: Mobile apps, wearable devices, and diagnostic tools.
By Application: Reproductive health, pregnancy, nursing care, pelvic care, general healthcare, and wellness.
By Region: North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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