Conor Stewart
Research expert covering health & pharmaceuticals in the UK & Europe
The femtech industry - statistics and facts
Technology that addresses women’s health, also known as ‘femtech,’ was an industry worth almost 60 billion U.S. dollars in 2024. The term femtech was first coined by Ida Lin in 2016, and though the size of the femtech market is increasing, many women, the target group of these products, were unaware of the industry. The segment contains any products, apps, services, medical devices, wearables, and software utilized for women’s health. Femtech aims to right the wrongs women can experience when interacting with the healthcare system by specifically addressing women’s healthcare needs. Women have often reported in healthcare situations not being taken seriously, as well as a lack of understanding of their bodies and experiences leading to unmet health needs. Bringing everything related to women’s health together under an umbrella term defines this part of the market and helps it stand out for investment.
Where are the leading markets?
As of 2024, North America accounted for over a third of all global femtech ventures. Europe and Asia-Pacific followed each with just under 30 percent. Among companies centered in North America, a fifth were focused on pregnancy and nursing, making it the largest sub-sector in the region. Other prominent sub-sectors in North America were reproductive health and contraception, general healthcare, and menstrual health. California had the highest amount of femtech funding of any U.S. state in 2024. On the other side of the country, New York closely followed in terms of funding, and North Carolina had the third highest amount of funding.Is lack of awareness a cause for concern?
While femtech is still a fairly young industry, the aforementioned lack of awareness could be an issue. Lack of product knowledge and understanding of the value the product could bring to women could mean difficulty attracting investment, an area industry leaders cited as their biggest challenge within femtech. Taboo and advertising bans were also reported as significant hurdles to the industry and may also have some effect on the low awareness levels. On the other hand, it has been said there could be a large gap in the market to fill once potential customers become informed of the benefits. Furthermore, political decisions over women’s bodies, such as the reversal of Roe vs. Wade in the United States, may induce women to use femtech tools. Since the Dobbs ruling, which overturned Roe vs. Wade and revoked the constitutional right to abortion in the United States, there has been an increase in the prevalence of women using technology for period and fertility tracking. However, there were also concerns, which the femtech industry will need to alleviate, that personal data collected in apps is secure and protected.
