According to Statista, the global mHealth industry might grow to $247 billion by 2025, a roughly 9x increase from its 2018 ($28 billion) value.
The term "mobile health," or "mHealth," refers to the use of mobile phones, tablets, wearable technology, etc. to enhance public healthcare or improve healthcare results. The discipline has recently arisen and is expanding steadily. The growth of mHealth applications is evidence of this.
Fitness, health management, diet programs, and other topics were the focus of several mHealth applications for a very long period. The market didn't appear to be very promising in one area, women's health tracking software. Or femtech applications.
But it's currently changing. By 2027, the entire worldwide femtech market is anticipated to reach the $60 billion threshold with a significant profit margin for all the leading medical app development companies. Let's first explore what Femtech means before moving on to other topics.
Meaning of Femtech
Femtech, which stands for "female technology," is a collection of software, diagnostics, goods, and services that employ technology to enhance the health of women.
Many femtech companies today are dedicated to improving the lives of women by providing a range of solutions, including period monitoring apps, fertility solutions (fertility tracking apps), and pregnancy tracking. In order to enhance women's healthcare, the women's care business encompasses health products such as linked medical devices, wearables, smartphone applications, etc.
Femtech App Types
As we previously covered, there are several types of mobile medical app development in the market that address various facets of women's health. Femtech applications are quickly taking the top spot on a woman's list of essential apps due to the rise in smartphone use and the rising need for mobile apps across all industries. The following are some of the typical women's health applications you could encounter:
- Tracking of periods and fertility
These applications rank among the most demanding ones available right now. The algorithms of the health app calculate the estimated date of ovulation, the fertile period, and the date of the upcoming cycle based on the information provided by women, such as their age, when did their last period start, and how long their average cycle was. This reliable information is produced to help women track their menstrual cycle and estimate fertility. Both women who want to reduce their chance of pregnancy and those who want to get pregnant may benefit from this.
- Monitoring of Pregnancy
For women in the early stages of pregnancy who are observing physical changes, a pregnancy monitoring app is quite helpful. Such programmes guarantee the woman's and the baby's continued excellent health and growth by offering advice on a healthy diet and pregnant dos and don'ts. Other elements could include treating hormonal shifts, making doctor's visits, etc.
The benefits of female health apps
- Improved Command
Women have more power and control over their bodies thanks to femtech applications. They educate them on the subject and provide them with helpful ideas on their health-related worries. They eventually use this to make wiser choices regarding their health.
- Promptly Observing Health Issues
Femtech applications have shown to be an invaluable asset in promptly tracking or addressing women's health concerns, in addition to helping them gain a better awareness of their bodies and offering them the necessary answers. For instance, frequently checking the menstrual cycle can assist in identifying atypical cycles (early cycle or period delay) that can aid in the early detection of health concerns.
- Providing Assistance in Remote Areas
It's a sad fact, but in many cultures, talking about women's health difficulties is still frowned upon. In particular, this pertains to rural or isolated locations where women are less likely to discuss it and are more reluctant to seek medical treatment for menstrual health, infertility, birth control, etc.
Concluding Words: Investors are interested in the Femtech sector!
The femtech sector is expanding and receiving significant financing from investors throughout the world. Femtech businesses collected $82 million from investment firms back in 2015, and from 2014 to 2017, they received a total of 1.1 billion dollars in funding. Goes unsaid that good iOS app development agencies are also benefitted from this.
According to research conducted by Healthcare Growth Partners on 114 worldwide femtech companies, the sector raised almost $2 billion in investment in total between 2014 and 2019.
As of April 2019, the sector has received over $241 million in virtual capital financing and was projected to surpass $1 billion by the end of the year.
With the sector reaching new milestones every year, Femtech has a bright future, especially with experts like those at AppStudio.
