FemTech meeting the needs of modern women
A new group of start-up companies are developing health technology specifically designed for female healthcare, known as FemTech, to provide tailored solutions to medical issues that have historically challenged women.
This category is growing so rapidly that its market value is predicted to reach $50 billion by 2025 —directly proportional to the growth of the female population and their increased purchasing power throughout the world. Financial institutions across Europe provided more than $1 billion in research and development funding to FemTech start-ups from 2015–18.
FemTech offer diverse products, services, apps and diagnostic tools that cover almost every aspect of a woman’s health from providing advice on periods and pregnancy to other issues affecting modern women.
For women planning to have a child, Apricity, an app developed by a British start-up, acts as an online clinic using AI technology to help increase the chances of pregnancy. It also reminds users to see their doctor on time and provides a repository of useful information meeting the needs of expecting mothers.
Elvie guides new mothers throughout their pregnancy and helps working mothers manage their lives. In its early days, Elvie provided knowledge about abdominal exercises to shorten the time of recovery after childbirth. It invented the Elvie Pump, a quiet portable pump for new mothers that connects with the Elvie Pump application, enabling mothers to monitor the quality of their breast milk in real-time and making it possible for mothers to breast-pump conveniently anywhere. Elvie received Series B funding of $42 million.
FemTech can help working mothers or those who travel frequently take care of their children closely through a new breast milk travel solution. Transporting breast milk to children across the globe is now possible thanks to a start-up called Milk Stork, founded by a businesswoman who had the idea of transporting breast milk around the world due to the nature of her own work that required frequent flying. Milk Stork can help travelling mothers ensure a sufficient supply of breast milk for their children while alleviating logistical issues that come with pumping when abroad and transporting breast milk back home.
FemTech has helped improve even the most intimate items required by women, such as a sanitary napkin innovation from start-up Daye that was created to help women get through their period days much more comfortably with plant extracts that help reduce menstrual cramps. Made from environmentally friendly ingredients, this new sanitary napkin takes care of women’s health and the natural environment at the same time.
Women’s healthcare needs are evolving more than ever today, and many of their needs can be addressed by FemTech that place their medical issues front and center. In addition to technology designed for mothers and girls, future FemTech is likely to be developed to take care of the health of older women — be it managing illnesses or extending fertility.