FemTech companies are businesses that use technology to solve issues related to women’s health, excluding biopharma and incumbent medical devices. They focus on creating solutions for various areas, such as fertility, maternal health, menopause, menstrual health, pelvic and sexual health, and contraception. Additionally, some FemTech products cater to women’s unique health conditions, such as osteoporosis and cardiovascular disease.
Women represent a significant market for health and wellness products, with around 80% of customers being women. According to McKinsey & Company, a worldwide management consulting firm, women play a significant role as healthcare decision-makers for themselves and their families, in addition to being consumers.
FemTech presents a significant business opportunity for investors, stakeholders, and companies. According to McKinsey & Company, public awareness, the formation of new companies, and fund availability have led to a surge in the production of healthcare products designed for women. The current market size of FemTech is estimated to be between $500 million and $1 billion and is predicted to grow even further.
For more information on who is leading the charge in FemTech in 2023 take a look at the infographic below by Trainwest:
More than 70% of FemTech companies are founded by women, creating an inclusive and gender-aware healthcare system with immense potential to create job opportunities for female founders, investors, inventors, and physicians. The healthcare industry could benefit from having more women in leadership roles, resulting in improved opportunities for healthcare in society.
As of January 2022, 821 companies lead the FemTech space, with 2,819 investors investing around $16.24 billion in these companies, according to PitchBook Data Inc., a SaaS company that provides private market data.
(Disclaimer: Infographic created by Australia based training org – Trainwest.)