By Serena Hong (CC’26, Analyst 2022–23)
In 2016, Ida Tin, the founder of Clue first coined the term “Femtech.” In the course of just a few years, the industry has grown to encompass a wide range of technology-enabled, consumer-centric products and solutions focused on women. The Femtech industry provides a wide range of solutions that improve healthcare for women across a number of female-specific conditions, something that has not historically been prioritized. Some of these focuses include: maternal and menstrual health, fertility, contraception, and number of general health conditions that affect women disproportionately. Additionally, overall females are half the population and have a longer life expectancy compared to males, so Femtech is an industry that will always have a need and demand especially as our society becomes more technologically focused.
Femtech Companies are really disrupting the way the traditional health care industry works and operates. They are changing the field through improving care delivery, enabling self-care, and addressing stigmatized areas. First, through direct to consumer prescription services, companies are making it more convenient and also allows people to receive their health care much quicker. Second, at-home diagnostics like those provided by Modern Fertility, are among the Femtech solutions that are helping women take greater charge of their health and health-related data. Finally, Femtech rightfully brings attention, transparency, and knowledge to areas that were previously stigmatized.
As an industry, Femtech is expected to grow at a CAGR of 13% over the course of the next three years to reach a total market size of $75 billion. Progeny and Maven Clinic are two examples of successful companies that have received venture capital funding. Both have achieved unicorn status, demonstrating that Femtech is attracting investor interest and validates the fact that this is a sustainable industry that could generate substantial returns in the future. Statistics show more venture capital and angel investors are increasing their investments in this area as more deals are being done, more articles are being written, and in 2021 it broke two billion dollars in funding for the first time.
As a summary, Femtech is still a relatively new area with a lot of white space. Femtech represents an opportunity for startups and legacy players to accelerate the roll out of products and services for women’s health. I believe this sector is promising as 70% of Femtech companies are led by women founders compared to just 20% of other types of new companies. Finally, because women are not just consumers but also tend to be the primary healthcare decision makers for themselves and their families, this leads to better health outcomes for women which lead to a better outcome for society.