Since starting this platform, we’ve realized, that there still is some confusion about what femtech actually is and isn’t. So today we will try to answer the question “What is femtech anyways?” once and for all.
What is Femtech? (A Definition)
In general femtech refers to software, diagnostics, products and services, that use technology to support women’s health. The term itself was originally coined by Ida Tin, the founder of Clue, a period tracking app, who introduced it during her discussions with (mostly male) investors and almost accidentally created the new category.
As mentioned, the femtech sector is primarily concerned with addressing the whole lived experience of women. Innovations in this category usually fall into one of the following categories:
- Menstruation & Period Care Products
- Fertility & Birth Control
- Chronic Conditions & Hormonal Disorders
- Pelvic Health
- Pregnancy & Post Pregnancy
- Breast Feeding
- Sexual Wellness
- General Healthcare
The term femtech itself is somewhat controversial. Some argue, that it is not inclusive, sexist and per definition excludes trans-men. Femtech is often understood as a “technology, that improves women’s lives”, and it does. But that definition seems rather broad, as the term is really used to describe technological advancements in women’s health. It is less “lifestyle” and more “medtech”.
Another common criticism is, that femtech products will encourage pink tax. Pink tax is “a phenomenon often attributed as a form of gender-based price discrimination, with the name stemming from the observation that many of the affected products are pink.” Pink tax is often associated with products such as razors, that are the same, but sold at a premium price, when marketed to women. The aim of femtech is quite different. It is to create solutions specifically designed to meet women’s health challenges and to truly innovate instead of just rebranding and repositioning already existing products.
To learn more about the controversy surrounding Femtech, read Megan Capriccio’s article “Femtech: Controversial or Necessary?”.
The Femtech Market Opportunity
Accordining to Frost & Sullivan, the femtech market has a market potential of $50B by 2025.