Femtech- The segment with enormous unexplored potential

29 Aug. 19
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There is no specific female-centric market or company, which deals with a women’s need. But, with Femtech the scene has probably changed.

Femtech (or Female technology) is a concept applied to a category of software, diagnostics, products, and services that use technology which often focuses on women’s health. This sector includes fertility solutions, period-tracking apps, pregnancy and nursing care, women’s sexual wellness, and reproductive system health care.

It is ditching the taboo that is associated with women’s sexuality and health. Femtech was started keeping in mind the ladies centric approach. It will not only enable brand loyalty but will also inspire future generations.

The global reach

By the year 2025, there will be more than 1 billion women who will experience menopause out of the population of 8 billion around the world. About 75% of women experience menopause symptoms like hot flashes and night sweats. This can reduce the quality of life for a woman and she may also feel moody.

According to recent research, it was estimated that women experience menopause symptoms 121% higher than the utilization of total health care resources. It also affected the overall work productivity of women.

There is an additional burden of menopausal women experiencing VMS that is approx 660 billion dollars globally due to loss of productivity. The combined total loss of productivity is more than 810 billion.

The common symptoms

Menopausal symptoms are also associated with other conditions in the body. When the estrogen levels fluctuate in the body, it affects the heart as well. It also affects the muscles and results in overall cognitive decline. If the hot flashes are persistent, it increases the overall risk of developing cardio disorders in the body.

It also affects the bone. In fact, the average bone density of women decreases after the age of 50, it’s faster as compared to men. Menopause is not only a biological transition in the body but it is also a warning sign of chronic illness in a woman’s body. This is leading to increasing burden o healthcare globally.

Some secondary conditions of menopause

Women face a lot during menopause. An emotional burden makes them vulnerable to changes as well. Most women suffer silently on the issue and don’t even speak. Even developed nations fail to deliver the proper support for the problem of menopause.

In another recent survey, it was revealed that out of 60% of women who receive medical attention for menopause, 75% are left untreated. Self-treating can harm to an extent and most women resort to self-treating ways. Healthcare systems around the world lack that kind of medical attention that is required for treatment of menopause.

The change in this direction

Women in their 40’s and 50’s are tech-savvy so they want a change in healthcare-related issues of women. Women know how to balance their life be it personal or professional. There has been a significant use of smartphones over the years. Digitalization of technology along with health is a strong issue today.

Femtech is constantly evolving, and innovations are being introduced in this area of healthcare to provide great support to problems related to menopause, periods and pregnancy. In the first quarter of 2019, there was massive funding in this sector so there is a change in this direction and a positive one.

Hormone therapy can give symptomatic relief from VMS but it can also increase the risk of stroke and cancer in the body. Bioidentical hormone therapies also have certain side effects. The Femtech industry has brought a positive change in menopause management. Through digital startups and health integration, women’s healthcare concerns will further change.

Femtech companies that are powering women’s healthcare management:

  • Rory

    Rory started as women-centric health care company that costs 15 dollars as consultation fees. The best part about the company is it can make a personalized treatment recommendation. They recommend different treatments to women according to symptoms. The recommended treatments are valuable for hot flashes, sleep, vaginal dryness and loss of eyelashes.

    They provide both OTC and prescription medicines according to your symptom of menopause. The cost of medicine is inexpensive so it is quite affordable as well. They deliver the medicines to woman’s addresses discreetly and quickly, so it is safe. The cost of medicine by this startup company starts at $13.

  • Genneve

    Genneve launched an online assessment for menopause and online telehealth clinic for the betterment of women. Women can take a telehealth appointment via video chat with the healthcare doctors in their particular state. Most doctors that provide this menopausal assessment are certified by the North American menopause society.

    The company also provides video consultations to women for a set price. The company provides curated content along with nutrition advice for lifestyle consultations. The company was earlier an online content publication but now it only sells female healthcare and feminine products.If you want a personalized consultation on menopausal issues along with lifestyle recommendations then this is the perfect option for you.

New technology integration

There has been integration with technology as well. A Silicon Valley startup menapoause.ai helps to understand women’s health in a better way and also gives personalized OTC solutions for menopause problems. Women are open about feminine health problems today, be it menopausal health or breast care.

Femtech startups have made things easier for women. They no longer rely on traditional ways for treatments. Hormone replacement therapy can have side effects on the body. Recommendations from these startups can help to provide feasible health solutions to women without side effects.

The stigma that is associated with menopausal health has to be changed. Women and companies need to come in open to support the issue. Digital solutions can surely change the way things are taken care of.

Technology integrated with personalized approach can help many women deal with the problem of menopause. The biological transition will change the health care sector for sure at least for women.

Let’s Nurture, being an award winning ISO 9001:2015 certified custom mobile app development company offering end-to-end solutions in health and wellness industry like REVITA5 and Medcheck. Our approach towards health and wellness app development and mHealthcare solutions is enhance lives of the global community and overcome the similar issues being faced as of today.

For more details and queries about the startups like Famtech, get in touch with us.

Author

Lets Nurture
Posted by Lets Nurture

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