The North America femtech market is projected to progress with a CAGR of 11.68% during the forecasting period of 2021 to 2028. Factors such as the increased awareness about femtech for the analysis of clinical data, the introduction of various government initiatives, as well as the high maternal mortality rate and declining life expectancy are set to propel the region’s market growth.
The North America femtech market growth assessment includes the analysis of Canada and the United States. Cardiovascular diseases are the leading cause of death among women in Canada. As per the Heart and Stroke Foundation of Canada, around 31,000 women die because of stroke and heart disease annually. However, there is limited awareness regarding the same. Women diagnosed with diabetes and undergoing menopause are highly susceptible to heart diseases. The vulnerability is primarily accredited to the fact that before menopause, women are protected from heart disease owing to estrogen’s protective effect. However, if a premenopausal woman already has diabetes, then the latter invalidates the protective effect of estrogen.
The femtech start-up ecosystem is presently at a nascent phase with a mix of opportunities and restraints for firms entering the Canadian market. One of the significant challenges faced entails the absence of women-led capital firms in the country. In this regard, Lilia, a Toronto-based start-up, aims to design an in-house fertility testing kit to accelerate the complete fertility testing process. Hence, these factors are set to play a vital role in facilitating the North America femtech market over the forecast years.
Leading firms operating in the market include Athena Feminine Technologies, Aytu Bioscience Inc, Bloomlife, Flo Health Inc, etc.
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