At only 25 years old, I have seen a cultural shift in how we approach female health. From teaching young boys to stop associating periods with “GROSS!”, to young girls and people born with female anatomy being empowered to openly discuss their gynaecology, experience with menopause and more. Due to these shifts, where comedians can freely jest about their birth experience, menstruation products are less cryptic in their advertising and even the highest-grossing movie of 2023, Greta Gerwig’s Barbie, seeing Margot Robbie’s final line: “I’m here to see my Gynaecologist”, people have started to pay attention.
From investors to tech companies, female health has -finally- risen up the priority ladder.
There is a large disparity in the quality of healthcare provision for women compared to men, with a recent McKinsey study revealing women spend 25% more time in poor health than their male counterparts. The research also revealed that closing the women’s health gap could contribute an additional US$1 trillion to the global economy each year.
According to Marion Jeng, Associate at boutique investment bank DAI Magister, solving concerns around misdiagnosis and general neglect in women’s healthcare requires both increased investor attention and support for technological innovation.
Jeng said: “FemTech extends far beyond fertility, periods, and pregnancies. It encompasses a diverse ecosystem of companies, each focusing on different aspects of women’s health, from fertility solutions that empower women with reproductive health and family planning tools to technologies supporting pregnancy and motherhood.
“Unfortunately, the predominantly male-dominated investor landscape tends to overlook the significant potential of FemTech as an emerging sector, mainly due to a prevalent comfort bias.
“These biases are magnified by the incorrect perception that targeting female consumers represents a niche market. Many health concerns tackled by FemTech, like fertility, are not only women’s issues but are also relevant to men, underscoring the broader significance of these technologies. This undervaluing of the sector’s potential means missed opportunities for investors to be part of a transformative force in healthcare.
“Business-to-consumer FemTech firms will need to carve out a clear path to monetisation to stand out, and strategic partnerships are a viable solution, providing scalability and consistent revenue streams, helping broaden the market reach and bolster the credibility of the companies involved showcasing the integration potential of the solutions.
“We expect additional funding to flow to AI technologies that improve diagnostics, as female-related illnesses remain widely untargeted and underserved by traditional research. For example, diagnostic tools for conditions such as Endometriosis use blood-based microRNA markers that can be employed to develop an AI-powered diagnostic algorithm with efficacy comparable to the current standard of invasive laparoscopic surgery, making this an area ripe for investor and strategic buyer interest.
“AI innovations have also been instrumental in advancing the early detection of breast cancer. AI-powered medical imaging technology has been applied to classifying breast tissue density with remarkably high accuracy, evaluating image quality instantaneously to optimise the detection workflow. Successes like these exemplify the immense potential of AI in revolutionising healthcare diagnostics, making it an appealing sector for investors.”
Jeng concluded: “The true promise and impact of the FemTech sector often goes unrecognised, despite presenting a significant market opportunity. Investors should be increasingly drawn to the sector’s potential for disruption, as technology continues to empower women to take charge of their health in ways that were previously inaccessible. The intersection of technology and women’s health not only opens vast untapped markets but also contributes to breaking down stigmas surrounding women’s health, making FemTech a socially impactful and financially promising investment.”
I ask two experts our question of the month to delve further into how FemTech innovations can truly effectively address the unique health challenges and needs faced by women across different stages of life.
Georgie Kovacs, Founder and CEO, Fempower Health
The FemTech sector represents a significant leap forward in addressing the nuanced health challenges women face throughout their lives. While FemTech has made considerable inroads in areas like maternal health services and menstrual health products, significant opportunities still exist across various life stages and conditions, highlighting the vast untapped potential within the sector. However, the journey from innovation to widespread adoption is intricate, influenced by several pivotal challenges: effective go-to-market (GTM) strategies, the crucial role of specialised expertise on boards and advisory teams, and the overarching need to fill research gaps, particularly in areas like menopause which have historically been overlooked.
Navigating GTM complexities
A nuanced GTM strategy is essential for FemTech’s success, given the healthcare industry’s complex ecosystem. The sector’s cautious evolution, especially in sensitive areas like sexual health, underscores the need for strategies that build trust among healthcare providers and patients. Educating the market and advocating for underrepresented health issues are key steps toward overcoming historical biases and adoption barriers.
Mandate for expert leadership
FemTech’s potential is maximised when guided by boards possessing a blend of medical, technological, and market acumen. Specialised knowledge is paramount, particularly for complex conditions like endometriosis, where even top experts disagree on the cause and the role of existing, albeit not ideal, treatments (e.g, get surgery or take a prescription drug that induces menopause. Leaders with deep expertise can navigate FemTech products through regulatory landscapes, market hesitancies and towards meaningful health outcomes.
Bridging research gaps
With President Biden’s US$12 billion investment in women’s health research, the spotlight on FemTech’s role in bridging research gaps has intensified. FemTech can contribute critical data through wearables, digital platforms, and direct patient feedback, driving advancements in historically underfunded areas of women’s health, such as menopause management post-WHI study concerns.
Expanding Horizons
FemTech’s evolution demonstrates a commitment to expanding solutions across life stages, from reproductive health to managing menopause symptoms. Companies like Maven Clinic illustrate this progression, initially focusing on maternal health before broadening their services to fertility and menopause.
Conclusion
The FemTech industry is at a pivotal juncture, with the power to transform women’s health through technology-driven solutions. By tackling GTM challenges, ensuring leadership with targeted expertise, and leveraging innovation to address research deficiencies, FemTech is paving the way for a future where comprehensive, stage-of-life healthcare solutions for women are not just envisioned but realised.
Somer Baburek, CEO and Co-founder of Hera Biotech
As a female founder deeply involved in developing a non-surgical diagnostic tool for endometriosis, I’m acutely aware of the pressing need for FemTech innovations to address the multifaceted health challenges women encounter throughout their lives. The journey of womanhood is marked by various physiological changes, from puberty to menopause, each presenting its own set of unique health concerns. FemTech, with its focus on leveraging technology to improve women’s health, holds immense potential to revolutionise healthcare by offering tailored solutions across different life stages.
Firstly, FemTech innovations can empower young girls navigating puberty by providing accessible and educational resources about reproductive health. By offering age-appropriate information and tools, such as period tracking apps or wearable devices, we can normalise conversations about menstruation and foster a proactive approach to menstrual health management from an early age.
Moving into adulthood, FemTech can play a crucial role in supporting women through their reproductive years. Technologies like fertility tracking apps, which utilise data analytics and predictive algorithms, enable women to better understand their menstrual cycles, optimise conception efforts and make informed decisions about family planning. Additionally, remote monitoring devices and telemedicine platforms offer convenient access to reproductive healthcare, particularly beneficial for women in rural or underserved areas.
Moreover, FemTech innovations have the potential to significantly improve the diagnosis and management of conditions like endometriosis, which disproportionately affects millions of women worldwide. By developing non-surgical diagnostic tools, such as the one my team is working on, we aim to reduce the diagnostic delay and provide early intervention opportunities for better disease management. These advancements not only alleviate the physical and emotional burden associated with endometriosis but also contribute to improving overall reproductive health outcomes.
As women transition into menopause and beyond, FemTech continues to offer valuable solutions to address age-related health concerns. From menopausal symptom management to pelvic floor health monitoring, technology-enabled interventions cater to the evolving needs of women as they age, promoting healthy aging and enhancing quality of life.
However, it’s essential to acknowledge that effective implementation of FemTech innovations requires a holistic approach that considers factors such as accessibility, affordability, and inclusivity. Bridging the digital divide and ensuring cultural sensitivity are paramount to reaching diverse populations and maximising the impact of FemTech solutions.
In conclusion, FemTech has the transformative potential to revolutionise women’s healthcare across all stages of life. By harnessing the power of innovation and technology, we can empower women to take control of their health, break down barriers to access, and ultimately, improve health outcomes for generations to come. As a female founder committed to advancing women’s health, I am deeply inspired by the possibilities that FemTech holds and remain dedicated to driving positive change in the field.
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