Femtech's Influence: Transforming Women's Health Care Today

Jul, 15, 2024

Femtech, a term coined by Ida Tin in 2016, refers to technology that addresses female-specific health conditions. While women’s health has always been a critical field, it has historically been overlooked, partly due to the male-dominated nature of investment firms, which often struggle to engage with issues related to female biology.

However, the emergence of the term "femtech" has sparked more open discussions, solving the concern with how to raise social awareness about female-specific health conditions.

According to Precedence Research, the global femtech market is projected to reach approximately USD 121.33 billion by 2033. This growth raises the question: how significantly is femtech impacting women’s healthcare and their lives?

Femtech, by incorporating technology and innovation, addresses specific health and wellness challenges that women face. Its impact on women’s lives is multifaceted, touching various aspects of health and wellbeing:

Femtech is revolutionizing the way women understand their bodies and the different life stages they go through. Lia Camargo , Global Business Manager of fermata, highlights that the growing interest from both private and public sectors in the femtech industry is helping to normalize discussions around gender-specific health needs. These discussions not only enhance health literacy but also inspire the development of new tools, products, and platforms that address female health concerns. 

Women now have access to femtech products that enable them to better understand their bodies. For example, period and fertility tracking apps provide women with more self confidence in making informed decisions about contraception and family planning.

Femtech has expanded to offer a wide range of products and services that address unmet women’s health needs, particularly in the area of fertility. The normalization of discussions around fertility solutions has led to significant developments, such as Japan’s national health insurance scheme beginning to reimburse infertility treatments in 2022, making it easier for women to access childbearing treatments.

Additionally, femtech has promoted the development of solutions for pregnancy and postpartum care. In Japan, pregnancy tracking and postpartum care apps are so prevalent that the market is expected to reach USD 148.9 million by 2030. The Japanese government supports this trend by providing cash handouts to pregnant women and offering a Postpartum Care Program that monitors mothers' physical recovery and lactation after childbirth.

Menstruation and menopause are key life stages for women, yet discussions around them have often been limited, especially in Japan. However, femtech is helping break this silence and raise awareness about menstrual health. This has prompted the Japanese government to allocate 1.3 billion yen in 2021 to combat period poverty, Sustainable menstrual products like leakproof underwear and menstrual cups are becoming more popular in the country, helping women achieve an empowering life.

Regarding menopause, Japanese women traditionally view it positively, with 'konenki' translating to 'renewal' and 'energy with the seasons.' Nevertheless, the country recognizes the importance of supporting women during menopause.

In 2023, the Health and Global Policy Institute (HGPI) launched the “Promotion of Menopausal Women’s Health as a Social Issue to be Considered by Industry, Government, Academia and the Private Sector” to highlight menopausal women’s health as a significant social issue, and the market now offers various tools to help manage symptoms.

Research suggests that women are more prone to psychological challenges than men, due in part to the hormonal changes that occur throughout a woman’s life, including puberty, pregnancy, and menopause. In Japan, suicide rates are notably high, and during the pandemic, there was a significant increase in suicides among women, partly due to the mental health strain from childcare and caregiving responsibilities.

In response to how to raise awareness for mental health, femtech has launched apps and platforms that provide therapy, mindfulness exercises, and support communities, particularly for issues like postpartum depression, anxiety, and stress related to reproductive health. The market also offers wearable devices that help women track sleep patterns and stress levels, contributing to better overall wellbeing.

Femtech is a rapidly growing field with a significant impact on modern women’s lives. By providing innovative and practical solutions for various women’s health issues, femtech empowers the female population to better understand their bodies and helps society break down stigmas around female health.

How has technology improved health care is expansive, and with the growing momentum of the femtech industry, the opportunities are endless. This growth opens doors for entrepreneurs and companies to develop new solutions using the latest and emerging technologies.

Collaboration among the healthcare industry, digital health companies, and communities is essential to bringing more comprehensive healthcare solutions to women. As Kumi Sato, President and CEO of Cosmo Public Relations Corporation, stated, “We still have a long way to go in ensuring there is more focus on women’s health.” However, progress is being made, and the future looks promising.