FemTech: Key trends and companies driving the future in women’s healthcare
In recent years, we have seen a rise in businesses leveraging technology to offer products and healthcare services dedicated to improving women’s health and wellbeing; known as FemTech.
This new rapidly developing market is expected to grow at a CAGR of 15.6% to $60B by 2027, according to the “FemTech Industry 2021 / Q2 Landscape Overview” report. As of now there are more than 1,500 companies in the FemTech sector, in which a total of $16 billion has been invested.
Despite increased interest, the industry still remains underinvested; hence, it has a huge growth potential.
The “FemTech Industry 2021 / Q2 Landscape Overview has identified some FemTech key trends and companies to watch over the next few years.
Trend 1: Reproductive health
Recent research has identified the fertility market as an extremely promising industry area: it is expected to almost double by 2026, becoming a $41.4B market.
Innovative FemTech technologies have led to an increase in demand for embryo scanning, egg storage, and other forms of assisted reproduction, with a number of startups currently entering the fertility market.
The biggest cause of this trend is that women are more likely to choose having a baby at a later age. In addition, a growing number of peoplе are also experiеncing trouble conceiving, and therefore the market for fertility services has continued to grow.
Key player
One of the top companies investing in the fertilization subsector is Ivy Natal – founded in 2020 and based at San Francisco, United States. The company develops a process to create human egg cells from skin samples as a treatment for most cases of infertility. Many women cannot have children except through the use of donor eggs. Ivy Natal aims to allow these patients to have biological children for the first time, using a process that starts with a simple skin biopsy.
Trend 2: Menopause Solutions
Menopause Solutions stands out as one of the most significant trends in the FemTech industry.
According to the report, 85% of women globally are experiencing a menopause-related symptom, while 1 billion women will be experiencing menopause by 2025. At the same time, 93% of menopausal women are interested in non-invasive tech solutions.
There are a variety of treatments currently available to relieve symptoms of menopause – from hot flashes, night sweats, weight gain to insomnia – including hormone replacement therapy and supplements. Menopause often accompanies other diseases; low levels of estrogen and other changes related to aging can raise your risk of heart disease, stroke, and osteoporosis.
Key players
MyMenopauseRx is a telemedicine company – founded in 2021 and based at Wheaton, United States – that aims to improve the healthcare experience for women at midlife and menopause. It provides women with improved access to affordable menopause care, lab testing, education, and community.
Gennev is a digital health company – founded in 2015 and based in Seattle, United States – that provides women suffering from hormone-driven symptoms (e.g.hot flashes, insomnia, anxiety, and loss of libido) with easy access to information, health providers and community. Gennev maintains an online platform where they can learn about available solutions and get recommendations for symptom relief.
Trend 3: Tracking apps
Women’s health app market size is estimated to reach $3.9 billion by 2026, with Asia Pacific expected to showcase the fastest growth rate.
The menstrual health applications segment held the largest market share in 2020.
The trend of tracking apps has included the development of apps for tracking ovulation and periods, pregnancy, or menopause symptoms; and apps for general physical or mental wellness and female disease management. All of these solutions are helping women to better understand and take care of their bodies and their cycles.
Key players
Clue – A FemTech app that helps people who menstruate keep tabs on their cycles, educating them about their bodies in the process. Being free and AI-driven, the app can be used to track periods and ovulation. Its special algorithm makes it possible to determine when each of these windows is available in a given month.
Glow – A fertility app that crunches vast quantities of data to help users take control of their reproductive health. It helps women track their cycles and get the most accurate fertility predictions. It also assists women in many phases of their reproductive journey, such as avoiding pregnancy, conceiving, pregnancy, and postpartum.
Flo – An AI-driven app, developed by Flo Health, informing women of every stage of their reproductive cycle. It also helps them predict menstruation, as well as prepare for conception, pregnancy, early motherhood, and menopause.
Natural Cycles – The first FDA-cleared contraceptive app that spearheads the development of digital contraception. Its mission is to pioneer women’s health through research and passion. It achieves this by informing women of the need to take charge of their health. Natural Cycles can also be used to plan a pregnancy.
Other top companies in this space, such as Cora, provide subscription services to deliver feminine hygiene products to customers’ doorstep.
Trend 4: Wearables
Worldwide shipments of wearable devices reached 153.5 million in the fourth quarter of 2020, a year-over-year increase of 27.2%. The growing demand for direct-to-consumer devices in FemTech, such as wearables, is caused by the overall comfort and reduced side effects from their utilization.
Smart wearable devices allow females to measure variable biomarkers and body performance; track their monthly cycles, including ovulation and periods; and test their urine or breast milk.
Key players
Elvie offers pelvic floor muscle exercise programs to women who experience bladder control problems or want to improve their pelvic health for better intimacy or faster postnatal recovery. The Elvie Trainer is an app-connected pebble-shaped pod.
The Bellabeat wellness tracker can monitor health, fitness, menstrual cycles, sleep patterns, meditation, and stress levels, and provide analyzed data and personalized content, helping women understand themselves better.
Ava, founded in 2014 and based in Zurich, Switzerland, helps women track physiological signs of fertility. By wearing a special bracelet during sleep, they can monitor their health, detect a fertility window, and track pregnancy. After identifying nine different physiological signals of fertility, the bracelet determines five most fertile days within a cycle and informs the wearer of it via an app in real time.
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