The FemTech Revolution: how technology is empowering Women's health and wellness health womenshealth wellness femtech technology tech healthtech
By Dr. Priyom Bose, Ph.D.Reviewed by Danielle Ellis, B.Sc. Driving forces behind the FemTech revolutionFurther reading
Women's health presents significant business opportunities for companies, stakeholders, and investors. This is because around 80% of customers who purchase health and wellness products are women. According to McKinsey & Company, a global management consulting firm, "Women are not just consumers, but the primary healthcare decision-makers for themselves and often for their families.
How can FemTech companies affect the healthcare industry? Although the FemTech revolution is still in its infancy, it can potentially disrupt the healthcare industry. For instance, companies like Tia and The Pill Club use technology such that women can access care in a more consumer-centric manner.
Related StoriesImportantly, FemTech companies have also focussed on delivering culturally sensitive and tailored care. For example, FOLX Health, HUE, and Kasha provide solutions tailored for sub-populations, including LGBTQ+, women in low-middle-income countries, and Black women. Flo Health Flo Health is a menstrual tracking app founded in 2015 by Belarusian co-founders Dmitry Gurski and Yuri Gurski. According to the latest report, the app tracked around one billion menstrual cycles, and 27.7 million women got pregnant while using Flo Health. This app is utilized by 200 million females between the ages of 15 and 49 to manage their menstruation cycles. In 2017, machine learning was integrated for the accurate prediction of periods.
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