The femtech boom The femtech industry, which focuses on improving women’s wellbeing via tech-enabled products and services, is set to be worth $50bn by 2025 (Frost & Sullivan, 2018). Femtech Innovation & Gender Equality Entrepreneur Estrella Jaramillo and Founder of Well Made Health, LLC Katie McMillan share their thoughts on the rise of startups disrupting women’s healthcare with tech – from fertility trackers to breast pumps.
By Lisa Desai and Jessica Jurkschat
‘Women are like: ‘We are 50% of the population! Our health affects ourselves, our families, and our communities and we will not be ignored.’ I love that.’
36 Start! Issue six 2020-21
What is femtech?
How is the industry growing?
EJ: Femtech comprises devices, software and diagnostics, as well as tech-enabled products and services, that directly address women’s health issues. Think menstrual health, fertility, pregnancy and birth, parenting support, cancer prevention, sexual health education and pleasure. It also includes health issues that, even though they affect both men and women, haven’t been sufficiently researched or analysed from the perspective of women, and how these health issues manifest differently.
KM: Femtech is projected to be a $50bn industry by 2025. To put that in perspective, between 2013-17, femtech companies raised around $1.1bn. I think there are a variety of reasons why the industry is growing. More women attend college and medical school then men now, which leads to a variety of secondary benefits like expendable income, as well as access to professional networks and investment capital. Socially, I think a lot of subjects that were whispered in hushed tones – like menopause symptoms, incontinence and breastfeeding – are becoming destigmatised. Women are like: ‘We are 50% of the population! Our health affects ourselves, our families, and our communities, and we will not be ignored.’ I love that.
KM: I define femtech as apps, software, and connected devices that address a specific women’s healthcare need or goal. Femtech companies span from menstruation to menopause and everything in between! The majority are consumer-facing products, but there is also innovation happening in the medical device and treatment space as well.
