With the global femtech market projected to be a $100 billion industry by 2030, brands and organisations in this space are continuing to make a significant impact on women’s health and wellness. In fact, since the term ‘Femtech’ was first coined in 2016 by Ida Tin, entrepreneur and founder of the period tracking app Clue, has grown to include a whole range of tech-enabled, consumer centric products and solutions helping to transform every stage of a woman’s health journey.
What is femtech?
Femtech has a critical role to play in leveraging technology to bridge the gender gap in healthcare where women’s health concerns have often been marginalised or treated as an afterthought. The rise of femtech is helping to break down barriers by providing accessible, personalised and data driven solutions to address the unique needs of women’s health. By shining a spotlight on subjects that were once considered taboo or stigmatised, femtech now helps to encourage open and honest conversations, empowering women to take control of their health.
With femtech solutions readily available on smartphones and digital devices, women are now accessing vital information, receiving remote consultations and engaging with healthcare professionals at a time that suits them. This not only makes healthcare more convenient, but also encourages early intervention and preventative care.
From fertility tracking apps to pelvic floor trainers, providing a better understanding of menstrual health or education around menopause support, innovative businesses are driving the agenda, addressing the need for change on the healthcare landscape.
We take a closer look at femtech and the role of technology, the key femtech trends on the horizon and the innovations predicted to enhance health and wellbeing for women.
Technological advancements
Advancements in technology have undoubtedly played a pivotal role in the growth of femtech, with companies leveraging technologies including AI, machine learning and big data analytics, that are able to provide personalised healthcare solutions.
From smart bras that monitor breast health to menstrual tracking wearables providing insights into fertility and reproductive health, these devices offer real time data that help to inform healthcare decisions. Significant advances in sensor technology mean that wearable devices like Oura are becoming more discreet and comfortable, integrating more seamlessly into women’s daily lives.
Empowerment through data
Data has become a powerful tool in women’s healthcare, empowering women to make informed decisions about their health and wellbeing. Femtech platforms including Hertility are not only collecting data but also using it to provide personalised recommendations and predictive analytics.
AI in femtech is also being increasingly used to analyse genetic data, medical histories and lifestyle to develop personalised diagnoses and treatments for women’s health conditions, as well as early detection and preventative care.
Telehealth and remote monitoring
Telehealth and remote monitoring continue to shape the femtech landscape in 2024. Platforms specialising in women’s health offer virtual consultations and remote monitoring solutions including devices to track prenatal or postpartum care.
To provide women with a safe space to connect, femtech apps like Mbody and Peanut are also increasingly launching peer support networks and virtual communities where women can connect, share their experiences and find support on various health topics. These communities help build a sense of belonging, providing health insights and support during the different stages of women’s health and wellness journeys.
Addressing health inequity
There’s been a growing emphasis on promoting health equity and inclusivity within the femtech industry, however femtech still faces some challenges when it comes to reaching underserved communities. Brands and healthcare companies are now turning their efforts towards ensuring that femtech solutions are accessible and affordable for women of all backgrounds, including those from communities who may face barriers to healthcare access. Examples of innovation in health equity include Bloomful, an AI driven triage solution that delivers streamlined, personalised and accessible gynaecological care for underserved women globally and Ellescope, a femtech start up on a mission to close the health inequality gap in maternity care.
Investment and growth
As brands and organisations recognise the potential impact and opportunity for femtech in the UK, investment continues to grow. From venture capital companies to greater investment from healthcare companies, femtech start ups are able to scale their operations, expand their product range and reach new markets. Increased investment is also helping to drive research and development of new technologies and how they in turn can support women’s health.
Through technology and innovation, femtech will continue to address the unique health needs and challenges faced by women, transforming the way they access, manage and experience healthcare.
By harnessing the power of technology, data and collaboration, femtech is poised to play a pivotal role in empowering women to take control of their health and wellbeing. As the femtech revolution continues to unfold, it will help to improve outcomes, enhance quality of life, and advance the future of women’s health worldwide.
Brands and organisations are embracing the potential that femtech has in transforming the healthcare industry and improving women’s health for good.
To find out more about our healthcare PR team’s experience in women’s health and how we can support your business, get in touch today.