FemTech – What is it?

‘FemTech’ was coined by Ida Tin, founder of the period tracking app Clue, in 2016.  Tin sought to create an empowering term that was easier for investors and media to find companies dedicated to women’s health and research.

The term is the intersection of many technologies and innovations tailored towards tackling health issues that only and/or disproportionately affect women. This encompasses a wide range of conditions including:

• Maternal health

• Sexual health

• Menstrual health

• Menopause

• Fertility

• Contraception

• Bone health

• Brain health

Medical research is known to be biased towards males. Studies have largely used male participants so when conclusions are drawn, they are skewed. Now, this is not the start of a feminist argument, but fundamentally male and female bodies are different. Therefore, women are vulnerable to medical misjudgements due to their low representation in medical and pharmaceutical trials.

FemTech acknowledges that women have different health needs to men and provides a personalised approach of addressing female healthcare needs through technology.

What is the potential of FemTech?

The provision of easily accessible and accurate information regarding women’s health is FemTechs most obvious asset. It’s potential stretches so much further:

• Improve the delivery of care via virtual clinicals and prescription delivery services

• Promote self-care with health trackers

• Improve diagnoses

• Address stigmatised fields such as sexual health and menopause

• Reduce the gender inequality gap in tech

How has FemTech grown?

Despite being a relatively new sector, FemTech has seen a gradual, steady growth. In 2020, its market size was $40.2 billion and is estimated to increase to $75.1 billion by 2025.  But, of all the investment into digital health funding in the US, women’s health only saw 3.3% between 2011-2020.

How is FemTech regulated?

Much of FemTech is delivered via apps which can access an individual’s mobile contacts, camera, microphone, location and other personal data. Reports have shown that  in the UK 84% of these apps share personal data with third parties – most without prior consent. Therefore, it is of no surprise, that people are calling for improved regulation around FemTech to minimise the associated data security and privacy risks.