The Femtech industry has revolutionized the way the world views what a woman needs

Author-Ravi Ramachandran, co-founder and CEO of Nua explains that there is now an increase in research and development in areas such as menstrual health, menopause, period tracking apps, well -sexual being and mental health. There will be many more opportunities and problems to solve as we move forward and the market is definitely expected to see more growth over the forecast period.

A new women’s health tech market has sprung up more simply as Femtech. Femtech is the use of a combination of science and advanced technology to introduce services, wearables, software and products that meet the diverse health and wellness needs of women.

Femtech and AI

The application of AI in Femtech can span multiple verticals, from prevention to diagnosis to treatment of multiple women’s health issues. For example, a few period tracking apps claim to use AI to better predict a woman’s menstrual cycle. However, the trend to hope for is the use of AI to aid in the diagnosis and treatment of cervical and breast cancers. Many start-ups across the world and in India as well, are innovating to help women diagnose these cancers earlier and faster. Due to increased awareness among women, there is a growing demand for early detection of health issues through digital (usually AI-based) solutions.

Tracking apps

Women’s health apps are expected to reach $3.9 billion by 2026 with the fastest growth in Asia-Pacific markets. Tracking apps have really gained ground over the past few years with period, ovulation and pregnancy tracking leading the pack. We will see an increase in tracking apps for menopause, general and mental health, and the management of women’s illnesses. Even with the new additions, fertility and period tracking will continue to grow, providing culturally appropriate and localized care. These solutions allow women to better take charge of their health and understand their bodies through the different phases of life. The biggest benefit of tracking, and the reason it will continue to grow, is that it allows women to spot irregularities and catch problems before they become high risk.

Addressing Neglected Health Issues

We’ll see start-ups focusing more on women’s health issues like endometriosis and menopause that have been largely overlooked until now.

Endometriosis is an extremely painful condition in which the tissue that lines the inside of the uterus grows on the outside. The incidence of endometriosis is almost as high as that of diabetes, but there is only $1 spent on endometriosis research for every $200 spent on diabetes. The need of the hour is for more innovative, non-invasive techniques to diagnose endometriosis.

Menopause, on the other hand, is gaining attention due to the fact that more and more women are reaching this stage due to the popularly called “Silver Wave”. One billion women are expected to experience menopause by 2025. Symptoms of menopause include hot flashes, weight gain, night sweats and insomnia, as well as an increased risk of other conditions such as osteoporosis and cardiovascular disease. Women will need innovative digital solutions to manage and track their symptoms, as well as telemedicine and digital therapy support.

Personalized care

Personalized care is still in its infancy, but it’s an important trend to watch over the next few years. Women are increasingly realizing that there is no one-size-fits-all solution to their health issues, from skin care to birth control to pregnancy care. We are seeing innovation in the delivery of healthcare through virtual clinics, home diagnostics and digital therapies, all intended to personalize each woman’s experience based on her symptoms and health goals.

In countries like the United States, women are looking for personalized birth control pills based on their hormones that minimize side effects such as blood clots and depression. This falls more under precision medicine, but ultimately falls under personalized care.

Wearables

Wearables are all the rage and will continue to be for quite some time. By 2025, the device segment of the Femtech market is expected to reach 16%. Smart wearable devices offer women a non-invasive and comfortable way to measure certain vitals to help them track their body cycles and overall health with limited side effects. We’re seeing innovative devices to help with pelvic floor exercises, fertility tracking, overall health monitoring, and postpartum care.

The accuracy of some of these trackers, especially when it comes to predicting fertility, is still in question. Keeping that in mind, one might wonder whether these portable devices are worth it or not and only time will tell.

Summary

Women’s health care needs have been ignored for far too long, but that trend is thankfully changing. The Femtech industry has revolutionized the way the world views what a woman needs and has shed light on the amount of work that actually needs to happen. There is now an increase in research and development in areas such as menstrual health, menopause, period tracking apps, sexual wellness and mental health. There will be many more opportunities and problems to solve as we move forward and the market is definitely expected to witness greater growth over the forecast period. Now that the industry has finally come out of the shadows, one can rest assured that women’s wellbeing will not shrink from the spotlight it truly deserves.