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What is femtech?
Thanks for asking.
For a number of years now, the innovative field of femtech has been revolutionizing how we approach health care for women.
Technology already touches just about every aspect of our lives, and healthcare is no exception.
Now Femtech focuses specifically on addressing various aspects of women's health, from contraception to diseases that predominantly affect women.
It may have initially been overlooked, but Femtech has now emerged as a significant market in its own right.
When did the term first appear?
It's a blend of female and technology, and it was coined back in 2016 by Danish entrepreneur Ida Tin, one of the founders behind menstrual cycle tracking app Clue.
As of 2023, Clue had over 11 million users.
Other examples of Femtech innovations include bras equipped to detect breast cancer, contraception and pregnancy tracking apps, connected fertility bracelets and apps that aid in detecting common conditions like endometriosis.
Well, a Forbes article from 2019 suggested that Femtech startups had collectively raised over a billion dollars in funding in the preceding five years.
That surge in financial support reflected the increasing recognition of the importance of women's health in the tech landscape.
But even if it's gained a lot of momentum and has the potential to address crucial health issues, Femtech doesn't get the same level of interest from investors as certain other tech sectors.
That underlines a broader issue of women's health being somewhat sidelined in the business world.
In early 2024, Forbes called getting funding an uphill battle for femtech startups, citing factors like investor biases, market misconceptions and the persistent stigma surrounding female-led initiatives.
Non-profit organisation Femtech Focus estimates that the Femtech industry will be worth nearly 12 trillion by 2027, so there's definitely optimism for the future of Femtech.
Talking to CNBC in June 2023.
Ida Tin suggested that the menopause and contraception still offered big gaps in the market, so we could well expect to see developments there, especially if some of the persisting obstacles, like gender imbalances in investment and the taboo nature of women's health, are addressed.
There you have it.
Now you know what Femtech is.
In under three minutes, we answer your questions and help you understand the true meaning behind the trends, concepts and acronyms that are making headlines.
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