What To Expect for Femtech in 2023?

The Femtech industry has rapidly grown in recent years, but it has yet to fully address women's health issues. Cybernews predicts that we could see a breakout moment in 2023.

Femtech is a term used to describe businesses leveraging technology to address the unique health needs of women. The market will be worth more than $103 billion by 2030, growing at a CAGR of 8.12% from 2022 to 2030.

Since 2015, venture capital funding in this emerging industry tripled from $600 million to $1.9 billion in 2021 and continues to go from strength to strength, according to Cybernews.

One of the Femtech companies, Vira Health, is seeking to improve the collection and use of female data in healthcare to pave the way for personalized treatments based on the unique symptoms of every menopausal woman.

Last year, the company secured $12m to deliver telehealth and prescription services to its menopause app.

About 1.2 billion women around the world are suffering from the effects of menopause. The condition may have 48 different symptoms and significantly increase the risk of developing osteoporosis, cardiovascular disease, and dementia.

Another menopause startup launched an AI-powered app called Midday which leverages technology to provide personalized therapeutic strategies.

According to its developer, Lisa Health, the app helps to manage symptoms like hot flashes, sleep disturbance, vaginal dryness, mood changes, and weight gain and supports healthy aging.

It's estimated that about 80% of women worldwide experience period pain. However, the femtech industry has yet to fully address these issues and offer solutions to help alleviate discomfort for women.

Cybernews predicts that 2023 may become a breakout moment when we will see more research, funding, and investment to develop technology and products that effectively address menstrual pain and improve women's overall health and well-being.

"In a digital world where algorithms determine everything we see and hear, many women are increasingly turning to tech to predict and better manage their periods and fertility windows while also better-anticipating stress levels," the article says.

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