The Evolution of FemTech

Public Market Update: Average Sector Performance

Let’s first take a look at the HealthTech market.

Well, just like the rest of the market so far in 2023, HealthTech is doing it’s own nose dive. So much so, that 2 companies are no longer in the HealthTech space (note 98 companies now vs 100 last month).

🖥️ Access to Care and 📃 Insurance are hanging on in the green, while everyone else switched colors.

What’s driving the decline at this point? It’s possible that technology purchases by large stakeholders, such as hospitals, has decreased due to fund shortages, which could explain 🏥 Hospital Operations, 👩‍💻 Decision Support & 🩺 Treatment Devices.

For, 💊 Biopharma, at the end of August, the government released a list of the first 10 drugs for price negotiations with Big Pharma. The September decline could be reflecting this.

All of this could also be a reflection of the usual market step down that we see in Q3. What makes us feel better is that we’re less negative than this time last year!

Going forward in Q4, it will be interesting how the HealthTech market pivots. Many patients flood health systems to get treatment and care prior to the end of the year in order to use up their deductibles and capitalize on Insurance coverage after the fact.

Let’s see what happens!

Articles Worth Reading

The Evolution of FemTech & How It’s Shaping Women’s Health

Coined by menstrual app, Clue, founder Ida Tin, the term Femtech encompasses technology that works to improve women’s health. In 2021, femtech funding reached new highs, with investments surpassing $2 billion.

Where is the money going? Several different areas of Femtech have found support, including:

Until recently, women have historically been underrepresented in health research, thus limiting the full consideration of treatment effects and efficacy for female-specific issues. Given that women make up half of our population, improved inclusion in research, and now funding of Femtech, is a significant win for female health initiatives.

Advancements in Femtech also mean downstream benefits:

Why Else is FemTech Important?

Aside from the obvious reasons to benefit society, a recent analysis shows that employed women have more out of pocket health expenses than employed men, to the tune of $15 billion more, annually (this excludes maternity-related care).

Femtech is one way to reduce costs, make care more efficient and help women put some of that money back in their pockets.

See more on the growth of this subsector, by reading our latest article on Langar:

Related content:  HealthTech, Explained

Opinion

A Doctor’s Perspective

As a fellow female, I can empathize with some of the women’s health issues that inflict so many, and I have seen other’s suffer with little support.

The fact of the matter is, that female health initiatives aren’t just about providing specific healthcare to women. It’s also about educating the public. So much of women’s health has been excused away, swept under the rug, or dismissed.

Female healthtech can help change the narrative, and make it easier for women to continue working, live life, have proper support, and not lose out financially. For instance,

☎️ Reduced need to call out sick for menstrual cramps, and/or no change in productivity and lifestyle because of it.

🥚 Taking time for fertility care can done with less judgement.

🤕 Female-specific pain can be regarded seriously and more accurately diagnosed and treated.

 🤱 One-third of new moms return to work within 3 months and end up halting breast-feeding, something that can be improved with Femtech.

🤖 Treatment devices for female-specific issues can reduce the need for surgery, saving everyone time, money and resources.

Femtech has made strides, but there is still much room for growth. Personally, I’m rooting for these new innovations and hope that they make a difference as intended.

—Sanjana Vig MD,MBA (Anesthesiologist, Peri-operative Expert)