Femtech is helping in promoting overall man healthcare that can improve their experience.
FREMONT, CA: The digital health field for women, popularized as Femtech, has only recently begun to attract interest from venture capital investors, even though women dominate 80 percent of healthcare decisions in the US and spend 29 percent more per capita on healthcare relative to men. Since 2011, only 3% of the 2,728 US digital health deals have concentrated on women's health. Much of this funding has gone to businesses promoting reproductive health, partially because of the difficulty and expense of fertility. Women are so much more than reproductive organs. The short-sightedness of only developing around this (crucial) requirement means that businesses miss the more significant opportunity to improve women's entire experience in healthcare. Although people have cheered success in the Femtech industry, when it comes to enhancing all people's wellbeing, the company is just at the tip of the iceberg.
The company suggests that the opportunity reaches beyond the connotations of the commonly used word Femtech and sees an emerging market helping to promote the variety of experiences of women, focusing on addressing health inequalities and managing socially accepted circumstances. The company has segmented the Femtech landscape that they believe has significant opportunities for entrepreneurs and investors to influence the services and treatment offered by a wide variety of healthcare customers.
Not only is the Femtech industry trailing in overall funding compared to other digital health markets, but start-ups in this area are also yet to pursue solutions for the entire female population. In the Rock Health Digital Health Funding Database, an overview of 51 US Femtech companies reveals that most funding was geared towards solutions addressing fertility, pregnancy, and maternity. Most of these alternatives aim to attract women who are commercially insured and younger. Given the large and diverse experiences among women, pushing the concept of Femtech to address women's health needs and requirements is more critical than ever. Here are the five sectors where the companies mostly operate.
Pregnancy or motherhood: Strategies that concentrate on supporting mothers during birth and the infant phase from the point of conception.
Chronic illness: Solutions that address chronic diseases requiring regular care (for example, cancer, heart disease, depression) are not unique but prevalent among women.
Fertility: Options, like intrauterine insemination (IUI), in vitro fertilization (IVF), intracytoplasmic sperm injection (ICSI), preimplantation genetic diagnosis (PGD), egg donation, and egg preservation, addressing health needs associated with period health or tracking and attempting to conceive
Sexual and gynecological wellbeing: Remedies addressing regular gynecological care facilities, sexual education, sexually transmitted infections (STIs), menopause, and pelvic health services
Lifestyle/wellness: Mind and body well-being solutions and social causes, to establish a balanced and multidisciplinary approach to holistic wellbeing.