$10 Bn of Potential Opportunity Is Opening Up In Women’s Health App Market | Market Trending Technologies with 16.5% of CAGR by 2030
The global women’s health app market size is forecasted to reach from US$ 2.3 billion in 2021 to US$ 10 billion by 2030, growing at a CAGR of 16.5% from 2021 to 2030, as per reports by market research and consulting organization Precedence Research.
The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030.
The women’s health app market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit). The report offers exclusive insights to help companies make informed decisions to sustain growth through the assessment period.
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The rising penetration of internet and increasing adoption of digital devices like laptops, tablets, and smartphones is expected to drive the global women’s health app market. Further, the surging popularity of health apps that provides services regarding diet, nutrition, menopause, weight management, and fitness is boosting the adoption rate among the women population. The rising awareness regarding health, increased disposable income, and rising consumer expenditure on health and wellness is propelling the growth of the women’s health app market.
The ability of the health app to communicate with the doctors during the treatment of the patient by providing with a record of the patients historic health conditions is a major factor that fosters the demand for the women’s health app. The introduction of various technologies like artificial intelligence in the health apps is anticipated to enhance the services provided by the women health app. The rising population of women is a major factor that may drive the market growth. The women population is much more concerned about their aesthetic looks and hence the demand for the nutrition and fitness and weight management apps is expected to surge among the young women during the forecast period.
The surging usage of smartphones is expected to drive the market growth. The maximum number of internet users use their mobile phones for connecting to the internet. Rising affordability of mobile data and easy availability of smartphones on easy EMI options especially in the developing and underdeveloped economies are expected to provide immense growth opportunities to the market players in the forthcoming years.
The outbreak of the COVID-19 pandemic has boosted the adoption of digital technologies across the globe. The consumers are increasingly opting for various digital services related to health that propelled the adoption of telemedicine among the population. Further, various market players are investing heavily to build strong digital presence and improve their services by introducing technologies like AI, VR and AR. All these factors are estimated to contribute significantly towards the growth of the global women’s health app market.
The rising adoption of digital technologies is changing the face of the traditional business models. Technologies like cloud-based data storage, AI, Big Data, and Blockchain is expected to exponentially drive the market growth.
Lack of regulatory framework regarding the heath apps may hamper the market growth. The health apps are considered safe as these are non-invasive. Further, cybersecurity and data breach are the major challenges that may hinder the growth of the women’s health app market.
North America dominated the global women’s health app market in 2020. The increased health awareness, increased disposable income, developed IT infrastructure, increased adoption rate of digital technologies, and rising investment by the market players in building strong digital security environment is boosting the demand. Furthermore the presence of huge number of health apps in the economies like US is a major that boosted the market growth in this region.According to NCBI, over 40,000 health apps were available for download on Apple iTunes store in 2013 in US. Factors like increased women employment and women empowerment in the region has played a significant role in the increased expenditure by women population on the health related services in North America.
Asia Pacific is expected to be the fastest-growing market for the women’s health app. The rising government investments in developing a strong IT infrastructure and rapid penetration of digital start-ups in the region is augmenting the women’s health app market growth. Further, the introduction of 5G technologies, availability of cheap data, rapid urbanization, and increased affordability o smartphones is driving the market in this region.
Based on the type, the menstrual health segment dominated the market in 2020. The increased concerns regarding the menstrual health of the women and growing needs for tracking period cycle has boosted the segment’s growth. Moreover, the menstrual cycle tracking apps can indicate various other potential health issue related to the menstrual health of women. These benefits are boosting the demand for the women’s health app across the globe.
In September 2020, Health & Her Ltd. launched a women health app to enable women user to navigate menopause.
The report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation and so on.
Some of the prominent players in the global women’s health app market are listed as below:
- Apple, Inc.
- Fitbit, Inc.
- Fio Health
- Glow Inc.
- Google, Inc.
- Ovia Health
- NURX, Inc.
Segments Covered in the Report
- Fitness & Nutrition
- Menstrual Health
- Disease Management
- Pregnancy Tracking
– North America (U.S. and Canada)
– Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
– Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
– Latin America (Brazil and Rest of Latin America)
– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
Why should you invest in this report?
If you are aiming to enter the global women’s health app market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for women’s health app are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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