In 2022, the women’s digital health market size was valued at $2.3 billion which is now projected to grow at a CAGR of 16.7% by 2032
DataHorizzon, a Silicon Valley-based research and consulting firm, in its recent report has revealed that the global women’s digital health market is anticipated to reach $10.8 billion by 2032.
Women’s digital health involves initiatives and technology platforms, including mobile apps and wearable software devices that exclusively help enhance female health and wellness.
According to the report titled “Global Women’s Digital Health Market,” women's digital health products will witness huge demand in the forthcoming years. In 2022, the women’s digital health market size was valued at $2.3 billion in 2022 which is now projected to grow at a CAGR of 16.7% by 2032.
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 also termed as 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.
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.
As per the Report, the mobile app segment holds a significant share owing to many medical companies and startups investing in building apps to solve patients' queries.
Moreover, the demand for application-based services is expected to attract a wider user base, creating a niche market in the forthcoming years.
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.
Additionally, internet and social media use worldwide also contributed to the growth of women’s digital health market.
The report highlighted that women use the internet to seek health information more than men. Around 68% of women use the Internet for medical information or assistance.
Further, North America holds a significant share in the women’s digital health market due to wider awareness and adoption of tools and applications in the region. While the US has a substantial share in this region due to the rising cases of women getting detected with chronic diseases in this region.
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.
In the Indian context, the digital health sector has been witnessing huge expansion and investments. The country has also emerged to be a hub for investing in women’s health startups with an impending economic potential.
According to MarketsandMarkets, the women’s health therapeutics market was valued at $1.98 billion in 2021 and is projected to grow to $5.98 billion by 2029, exhibiting a CAGR of 15.2%
DataHorizzon Research is a Silicon Valley-based market research and consulting firm that provides businesses with insights related to market trends. Their services include off-the-shelf market insight reports, analyst recommendations, and competitive intelligence. DataHorizzon Research aims to empower businesses with precise and reliable market insights to drive informed decision-making and sustainable growth.
The College of Healthcare Information Management Executives (CHIME) is an executive organization dedicated to serving senior digital health leaders. CHIME includes more than 5,000 members in 56 countries and two US territories and partners with over 150 healthcare IT businesses and professional services firms. CHIME enables its members and business partners to collaborate, exchange ideas, develop professionally and advocate the effective use of information management to improve the health and care throughout the communities they serve. CHIME's members are chief information officers (CIOs), chief medical information officers (CMIOs), chief nursing information officers (CNIOs), chief innovation officers (CIOs), chief digital officers (CDOs), and other senior healthcare leaders. The CHIME India Chapter became the first international chapter outside North America in 2016 and is now a community of over 70+ members in India. For more information, please visit www.chimecentral.org