- FemTech, a sector overlooked by investors due to taboos, is poised to be worth $1 trillion by 2027.
- From 2011-2020, only 3.3% of U.S. digital health investments were dedicated to women's health, despite potential high returns.
- Elvie, a leader in the FemTech space, turned initial skepticism into $100 million revenue, emphasizing the societal and economic impact of investing in women's health.
The FemTech industry, despite being seemingly avoided by investors due to perceived taboos, is projected to be worth a staggering $1 trillion by 2027. This sector, encompassing technology specifically developed to tackle health issues disproportionately impacting women, holds immense potential. From addressing health concerns during pregnancy and menopause to more severe conditions like Alzheimer's and HIV, the scope is truly vast.
Surprisingly, given that women constitute over half the global population, only a minuscule 3.3% of the digital health investment in the U.S. was channeled into women's health from 2011 to 2020, as reported by digital consultancy Rock Health. Encouraging advancements in female health technology can have ripple effects beyond just benefiting women. According to Women's Health Access Matters, a non-profit organization, a $300 million investment into enhancing female health could yield around $13 billion for the global economy.
Industry insiders such as Karen Taylor, research director of the Centre for Health Solutions at Deloitte, believes that the investment potential in this area is underappreciated. She asserts that if investors delve deeper into this niche, they would comprehend the profound growth and investment prospects.
A prime example of FemTech's potential is Elvie, a tech firm centered on women's health, founded by Tania Boler in 2013. Initially met with skepticism from the tech industry, the company has emerged as a leader in the FemTech space, boasting a revenue of $100 million. Elvie's success underscores the societal impact of such investments. The firm continues to defy taboos, stimulating necessary conversations around women's health.
However, the challenges persist. Lack of understanding of women's health, coupled with societal biases and limited female representation among investors, continues to hamper FemTech's potential. For this sector to thrive, and for economies to benefit, more investment is needed, backed by a commitment to overcoming deep-rooted societal prejudices.
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