Femtech industry has revolutionised the way world looks at what a woman needs

Author-Ravi Ramachandran, Co-Founder & CEO, Nua explains that 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 go down the road and the market is definitely expected to witness more growth over the forecasted period

A new female health technology market has risen more simply known as Femtech. Femtech is the use of a combination of science & advanced technology to introduce services, wearables, software, and product that address various health and wellness needs of women.

Femtech and AI

The application of AI in Femtech can be across multiple verticals from prevention to diagnosis to treatment of multiple women’s health conditions. For example, a few period tracking apps claim to use AI to better predict a woman’s menstrual cycle. However, the trend to look forward to is the use of AI to help with diagnosis and treatment of cervical and breast cancers. Multiple 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 amongst women, there is increasing demand for early detection of health conditions through digital solutions (that are usually AI based).

Tracking apps

Women’s health apps are expected to reach $3.9 billion by 2026 with the fastest growth in the Asia Pacific Markets. Tracking apps have really gained traction in 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 as well as female disease management. Even with the new additions, fertility and period tracking will continue to grow, delivering culturally sensitive and localised care. These solutions allow women to take charge of their health better and understand their bodies throughout different phases of life. The biggest advantage of tracking and the reason it will continue to grow is that it allows women to spot irregularities and catch concerns before they become high risk.

Addressing neglected health conditions

We will see start-ups focus more on women’s health conditions such as endometriosis and menopause that have largely been neglected until now.

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

Menopause on the other hand is receiving attention due to more and more women reaching that stage due to the popularly called “Silver Wave”. One billion women are expected to be experiencing menopause by 2025. Menopause symptoms include hot flashes, weight gain, night sweats and insomnia along with increased risk of other diseases such as osteoporosis and cardiovascular disease. Women will need innovative digital solutions to manage and track their symptoms, along with telemedicine and digital therapeutic support.

Personalised care

Personalised care is still in its early stages, however, it’s an important trend to watch over the next few years. Women are increasingly realising that there is no one size fits all solution for their health conditions right from skin care to birth control to pregnancy care. We are seeing innovation in the dissemination of healthcare through virtual clinics, at-home-diagnostics and digital therapeutics, all catering to personalising each woman’s experience based on her symptoms and health goals.

In countries such as the US, women are seeking personalised birth control pills based on their hormones that minimise side effects such as blood clots and depression. This is more on the lines of precision medicine but ultimately falls under the umbrella of personalised care.

Wearables

Wearables have been trending and will continue to be in trend for some time. By 2025, the device segment of the Femtech market is expected to reach 16 per cent. Smart wearables offer a non-invasive and comfortable way for women to measure certain vitals to help them track their body cycles and overall health with limited side effects. We are 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 under question. Keeping this in mind, it begs the question whether these wearables are worth it or not and only time will tell us that.

Summing-up

Women’s health care needs have been ignored for far too long but that trend is now changing and thankfully so. The Femtech industry has revolutionised the way the world looks at what a woman needs and has shed light on how much work needs to actually 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 go down the road and the market is definitely expected to witness more growth over the forecasted period. Now that the industry has finally emerged from the shadows, one can be rest assured that women’s wellness will not shy away from the spotlight it truly deserves.