Femtech Revenue Trends and Projections
Femtech is both a new and well-established market in the tech industry.
Femtech start-ups, back in 2015, raised around $82 million in funding, a number that has jumped to $1.1 billion by March of 2017.
And if that wasn’t enough to demonstrate this market’s success, Frost & Sullivan predicated the funding would potentially reach $50 billion by 2025. Suffice to say, the market is answering a big need. But what does that look like in terms of products created?
Well, 2017 was described as the year of vagina-nomics due to the sheer number of reproductive-related products that were introduced to the market. The benefit of this is that these products have helped make strides in retiring the taboo of speaking about women’s health needs. This in turn allows both consumers and innovators to be taken more seriously by the tech and investor communities, providing more opportunities for newer innovative thinking to be brought into reality.
Emerging Trends in Femtech
As we move forward in 2020, the emphasis in femtech is shifting.
While established in the reproductive and menstrual markets, there is serious emphasis on other aspects of women's health. The sheer amount of health issues that affect women differently than men is staggering, and there is a giant demand that needs to be filled.
Issues like Alzheimer’s and immunodeficiencies impact women disproportionately. Not to mention the fact that women respond to drugs different, and it is only recently that we are able to dig deep into the science of this. These demands are going to bring the femtech marketto an intersectional place where they target non-female issues that simply impact females differently, providing key products that meet the demands of female biology.
Consumers of femtech products spend around $200 billion a year. Key insights on why and how the Femtech industry include:
- 80% of household healthcare spending is done by women.
- Working age females spend 29% more per capita on healthcare compared to males in the same age group.
- 66% of female internet users look online for healthcare information.
- Woman are 75% more likely to use digital tools for healthcare than men.
- 80% of healthcare professionals are women and 40% are in executive or managerial positions.
When it comes to disrupting the status quo, femtech has faced that challenge head-on, and changes are still coming. Despite solid product launches and secured funding, there are big opportunities to sculpt what the ultimate successful business model, or models, will look like, while accelerating disruptive companies and products.
Overall, we’re about to see serious impact from femtech. As the industry is currently classified as a niche category, it won’t for long, as it’s establishing itself as poised to tackle much-needed problems that women throughout the world experience.
For additional intel into the global market for corporate sustainability, download a free overview of our report, Femtech: Empowering Women's Health.