Digital Women’s Healthcare and Diagnostics Market Size (2024 – 2030)

According to recent research findings, the global Digital Women’s Healthcare and Diagnostics Market reached a valuation of USD 3.1 billion in 2023 and is projected to escalate to USD 10.39 billion by the year 2030. This sector is currently experiencing a robust Compound Annual Growth Rate (CAGR) of 18.85% spanning from 2024 to 2030. Key factors propelling this industry's expansion include the surge in smartphone usage, increased adoption of preventive healthcare measures, favorable regulatory environments, and a rise in funding support.

Industry Overview:

A startup specializing in digital healthcare for women has amassed a substantial $1.3 billion through 26 transactions in the year 2021. This marks a nearly twofold increase in funding compared to the previous year, with four months still remaining. The recent surge in digital health funding aimed at women's well-being extends beyond traditional areas such as pregnancy and fertility support, encompassing primary care, chronic illness management, and menopause-related solutions.

From 2021 up to August, investments in women's health accounted for 7% of the total digital health funding, the second-largest proportion since Rock Health began its tracking in 2011. This sector is witnessing an evolution in offerings, with companies integrating general health services, sexual well-being solutions, and family planning into comprehensive packages for women. Notable examples include a range of products focusing on women’s health, sexual well-being, fertility support, addressing vitamin deficiencies, as well as skincare products under the Rory (Ro brand) umbrella.

With the surge in market investments, there's a discernible trend of maturation among digital startups in women’s healthcare. In 2017, the median age of such companies was 4 years, with none reaching Series C or higher funding rounds. Presently, as of 2021, the median age of these companies stands at 6 years, and from January to August 2021, 31% of transactions in women's digital health involved Series C funding rounds or higher, as reported by Rock Health. As the market diversifies with various digital health solutions, patients are beginning to consolidate their care under single platforms, noted Varsha Rao, CEO of Nurx, in an interview with Fierce Healthcare. She highlighted that 10% of Nurx patients are utilizing the platform for multiple treatment modalities.

COVID-19 Impact on Women's Digital Healthcare Industry:

The onset of the COVID-19 pandemic has had profound repercussions across numerous industries, both large and small. Being one of the most significant pandemics in recent history, COVID-19 has affected a vast portion of the global population. Originating in Wuhan, China, the virus rapidly spread to other regions worldwide, prompting governments to enforce stringent lockdown measures. These measures have had adverse effects on global supply chains, manufacturing processes, product sales, and delivery schedules across international markets.

Furthermore, the pandemic has led to the suspension of assisted reproductive technology in various countries, amplifying the demand for digital fitness solutions like smartphone applications and wearable tracking devices throughout 2020. However, the production of devices pertinent to women's digital health faced substantial challenges due to industry closures.

Market Drivers:

The market growth is primarily fueled by an upsurge in investment endeavors by established industry players:

A prominent trend in the women’s healthcare device sector is the initiation of several investment ventures, poised to significantly contribute to market expansion throughout the forecast period. These fervent investment activities offer several advantages, notably increasing the availability of simpler and cost-effective medical solutions, thereby fostering broader adoption of these devices.

Additionally, the prevalent incidence of women-centric diseases is a key driver of market growth:

Women are frequently diagnosed with a range of diseases, including anemia, osteoporosis, breast cancer, and menopause, which pose significant health risks. Apart from their common occurrence, these ailments can be particularly perilous for affected individuals. The escalating incidence of such diseases underscores the pressing need for effective medical interventions and pharmaceutical solutions to address these health challenges.

Market Restraints:

The growth of the women's healthcare market is impeded by certain products that entail adverse side effects:

Despite women being more susceptible to life-threatening diseases compared to men, several factors hinder the expansion of the women's health sector. Notably, the negative effects of certain medications on women's health stand out as a significant restraint. For instance, the use of birth control pills can lead to discomforts such as bleeding between periods, breast tenderness, nausea, headaches, among others, which can significantly impact their quality of life.

Digital Women’s Healthcare and Diagnostics Market - By Type

• Mobile Applications
• Wearable Gadgets
• Diagnostic Instruments
• Others

Within the category, the mobile application sector emerged as the market leader, commanding a substantial 65.9% share of revenue in 2021. This surge was primarily driven by the heightened adoption of mobile apps for managing menstrual cycles, fertility tracking, and pregnancy monitoring. Concurrently, the wearable gadget segment is poised for accelerated growth during the forecast period, while diagnostic instruments are progressively garnering attention with innovative introductions.

The escalating acceptance of these digital tools is attributable to their convenience and easy accessibility. Ongoing technological advancements in digital health empower women to stay abreast of their well-being, enabling informed decision-making grounded in pragmatic insights.

Digital Women’s Healthcare and Diagnostics Market - By Application

• Reproductive Health
• Pregnancy & Postnatal Care
• Pelvic Health
• General Health & Well-being

In terms of application, the reproductive health domain secured the largest revenue slice of 41.0% in 2021, asserting its dominance in the market with the highest integration of mobile applications for women's healthcare management. Conversely, the general health and wellness segment is anticipated to witness the swiftest expansion during the forecast tenure.

The market is progressively addressing additional women's health concerns such as pelvic floor care, pregnancy monitoring, and chronic ailments like breast and cervical cancer. Noteworthy advancements such as home screening facilitate early cancer detection, platforms for pregnancy monitoring empower self-monitoring of essential health indicators, and analysis platforms identify women at risk of preterm birth and related complications.

Digital Women’s Healthcare and Diagnostics Market - By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East
• Africa

From a geographical standpoint, North America emerged as the dominant force, commanding a substantial 41.1% share of the market revenue. This supremacy can be attributed to the region's advanced technological infrastructure, superior access to cutting-edge equipment, enhanced diagnostic and therapeutic capabilities, and greater disposable income. Conversely, Asia-Pacific is projected to witness the most rapid growth from 2024 to 2030. Emerging economies within this region, such as China, India, and Singapore, exhibit robust economic growth.

Government initiatives and a conducive regulatory landscape continue to propel the digital women's health market's growth in these countries. Efforts are underway to surmount socio-cultural barriers pertaining to women's healthcare and diagnostics market penetration.

Market Share in the Digital Women’s Healthcare and Diagnostics Market by Company:

Companies such as:

1. HeraMD
2. ISONO Health
3. Clue By Biowink
4. Charo Technology Ltd.
5. Natural Cycles
6. Ava Science, Inc.
7. Glow
8. Lucina Health
9. mobileODt Ltd
10. Brater
11. Athena Feminine Technologies
12. Plackel Tech

The realm of women's digital health is a highly competitive niche, encompassing products, services, devices, diagnostics, and software tailored to women's needs such as reproductive health, fertility, and sexual wellness. Numerous service providers are exploring artificial intelligence, machine learning, and the Internet of Things to develop digital health applications for women.

These enterprises are diligently working to deliver technologically advanced apps and gadgets that address women's health concerns in a personalized and effective manner. With approximately 200 companies operating in this sphere, the market is gradually expanding. However, with target consumers representing around 50% of the global population, there exists ample scope for new entrants and the expansion of existing enterprises to meet market demands.

The NC Birth Control application, developed by Natural Cycles, achieved the distinction of being the first application to receive approval from the US FDA in 2018. This application serves as a contraception method and aids in regular menstrual cycle tracking.

Suppliers are investing significantly in research and development to create technologically sophisticated systems that confer a competitive edge and yield economic advantages for the industry. The industry is poised to witness numerous mergers and acquisitions in the coming years. Companies are proactively taking steps to bolster their market presence and offer a diverse product portfolio.

Recent Developments in the Digital Women’s Healthcare and Diagnostics Market:

• Product Launch: In April 2021, Hims & Hers, a telehealth company specializing in online sales of prescription and over-the-counter medications, as well as personal care products, expanded its offerings to include a women's health division called "hers." This division focuses on products related to birth control, sexual health, and skincare and haircare.
• Announcement: In 2022, Elvie announced the availability of an NHS supply chain that utilizes Bluetooth technology to provide biofeedback therapy to women worldwide. This announcement was made at the 2017 International Continence Society Conference.