PORT HARCOURT, NIGERIA - Femtech has the potential to radically improve women’s lives everywhere and has already begun doing so. With artificial intelligence (AI) improving healthcare outcomes and personalized medicine, femtech stands to greatly benefit from this new technology.
Femtech and AI joining forces will positively impact women’s health and promote the need for women to be more adequately represented in datasets.
What is femtech?
Femtech is a term coined in 2016 for the niche healthtech market that uses technology to support women’s health. These technologies can be in the form of software, diagnostics, products, and services that serve women’s biological needs. Such needs include fertility, pregnancy, oncology, and others. One must also consider the different customer segments that these apply to, such as direct consumers, hospitals, fertility clinics, surgical centers, and diagnostic centers.
Is femtech needed?
The femtech industry accounted for USD40.2 billion in 2020 and is expected to reach USD75.1 billion by 2025, growing at a compound annual growth rate of 13.3 percent. The potential for return is huge, but do women’s health matters really need to be tackled separately?
Femtech provides needed visibility and representation, while serving as a metric for measuring progress. Femtech also promotes the embrace of gender diversity, as well as improvements in healthcare delivery through virtual clinics and other measures enabling women to access healthcare more conveniently.
Femtech provides a means of improving clinical diagnostics, addressing unmet medical needs, and addressing stigmatized topics such as menstrual health, sexual health, and menopauThe content herein is subject to copyright by The Yuan. All rights reserved. The content of the services is owned or licensed to The Yuan. Such content from The Yuan may be shared and reprinted but must clearly identify The Yuan as its original source. Content from a third-party copyright holder identified in the copyright notice contained in such third party’s content appearing in The Yuan must likewise be clearly labeled as such.