Femtech is a term that refers to personal technology geared towards women. Although widely regarded as a niche industry, for now, there’s little doubting that the essential products on offer and rate of growth driving femtech will aid its emergence into a mainstream market over the coming months and years. With this in mind, it’s worth exploring some of the SME companies that are set to drive the industry forward. Although time will tell whether the term femtech continues to persist or whether a new term will emerge later on, there should be plenty of optimism surrounding the products that are set to help the lives of women around the world. Early signs portray an industry that’s ripe for exponential growth, too. At present, the femtech market is anticipated to grow at a rapid pace, with the value of businesses populating the industry to grow beyond $60 billion worldwide by 2027. With this, we’re likely to see a wider range of product offerings as investments in innovation and women’s health continue to build momentum.“Globally, around 37% of the FemTech market belongs to the Pregnancy & Care, Reproductive Health & Contraception sub-sectors; however, it is not limited to these categories,” explains Maxim Manturov, head of investment advice at Freedom Finance Europe. “The global FemTech market was worth $40.2 billion in 2020 and is projected to grow at an average of 13.3% per annum from 2020 to 2025 to reach $75.1 billion.”“North America is the undisputed leader. Comprising almost 55% of FemTech companies, it far surpasses other regions. Europe is second with 25%, followed by Asia with 8% and MENA countries with 7%. The US and the UK are the two countries with the largest number of FemTech companies. Despite growing interest in recent years, the industry remains undervalued and has high growth potential,” Manturov added.As an industry with plenty of potential, let’s take a deeper look into three companies that are set to become leaders in a growing market over the coming years:
Ava is a femtech brand that’s geared towards helping women who are hoping to get pregnant and who want to make the most of their chances to conceive by understanding their bodies and cycles better. The product itself is a sensor bracelet that’s worn during the night. Ava analyzes nine physiological parameters, all of which can help to develop a clear picture of its users’ fertile windows and more precision to their ovulation cycles.Impressively, Ava has been found to detect approximately 5.3 fertile days per cycle at an accuracy rate of 89% – offering a solid indication of ovulation. The product was clinically tested across a year-long study at the University Hospital of Zurich, and a peer-reviewed report into the study’s findings was published in the journal, Scientific Reports. Furthermore, Ava is a device that’s registered by the FDA and possesses CE certification, too.
Founded by Ida Tin in 2012, Clue is a Berlin-based startup and the fastest growing app that’s dedicated to period tracking and fertility. In fact, Tin actually brought the term ‘femtech’ to prominence in 2016. Here, it’s worth noting that Clue isn’t the only pioneer of period tracking, but the app’s dedication towards providing educational content, sharing academic research, and encouraging more conversations about female health, HelloClue.com, shows that the startup is about more than just femtech analytics. As a source for unbiased, accurate, and up-to-date scientific research, Clue covers all areas of the menstrual cycle, from the first period to sex education, pregnancy, and menopause. “We now have a fantastic community, a trusted brand and voice spearheading FemTech and a very unique dataset that we are making available for research,” said Clue founder Ida Tin. “Now we need to become a self-reliant company that can thrive from the value we bring users. It is not an easy journey but I trust that users will support us and value what we are providing them.”
Femtech is far-reaching in its range of applications to improve the health of women around the world. Elvie, for instance, is a UK-based startup that creates connected breastfeeding pumps and pelvic floor trainers. The company has raised a huge €45m since 2013 and stands as one of the most successful femtech startups over the past 10 years. The startup has also prioritized creating a more open conversation about pelvic floor training. The future is certainly bright for the world of femtech, and it seems certain that the industry will continue to grow at an exponential rate throughout the decade. Although competition is set to grow significantly in that time, the above companies appear set to shape the future of the industry.
Could This Revolutionise The Female Care Sector?
As we step forward into a new technological era, femtech is tipped to head into the mainstream. As the e-commerce sector grows as a result of the pandemic, it has never been easier to start a business as an entrepreneur. With new sustainable female based technology becoming more popular amongst a global audience, we expect to see femtech based start-ups rise as a result.