How FemTech is Revolutionizing Women’s Health
Women’s health issues have topped the headlines of late, highlighting issues such as abortion rights and access, rising maternal mortality rates (CDC), and inadequate parental leave. Today we turn your attention to a more positive and proactive topic: FemTech.
Don’t brush FemTech off as the tech world’s buzzword du jour. Originally coined in 2016 by entrepreneur (and founder of menstruation-tracking app Clue) Ida Tin, FemTech refers to technology-enabled products and services that support women’s health. And according to a McKinsey & Company report, “estimates for FemTech’s current market size range from $500 million to $1 billion.”
These industry disruptors support women’s health through physical items like innovative menstrual products as well as access to patient services, including home testing, virtual care, mental health support, and more.
Companies like Modern Fertility offer at-home fertility testing for under $200, which is a price point that falls far below what some insurance companies could be charging for simple blood tests. Dame has successfully set out to destigmatize female sexual wellness through best-selling pleasure products designed by women. Swehl just received $1.1M in pre-seed funding for its breastfeeding and parent community support platform.
In addition to providing health services, many FemTech platforms feature an educational component meant to inform and empower women about their bodies and health. For example, the top-rated Flo app – which tracks menstruation and ovulation – gives users transparent data to understand where they are in their cycles and what that means for their fertility.
These companies comprise just a small sample of the companies revolutionizing women’s healthcare today, with new names on the horizon. Obviously, this subset is growing fast, accelerating investors’ interest in FemTech companies. Still, Tin asserts that the share of investor dollars going to these startups – of which 80% are female-founded – is just a fraction compared to other startups in the ride-share category, for example (Ultra Violet Futures via CNBC).
To that end, we encourage readers to explore the wide range of services and products designed to improve women’s quality of life, further bolstering FemTech’s power to improve women’s health overall.
During Women’s History Month and beyond, we applaud the female founders, medical pros, and STEM geniuses for their innovations in protecting and proactively bettering women’s health. Contact us for support finding the right women’s healthcare experts for you.