Femtech

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search

Femtech (or Female technology) is a term applied to a category of software, diagnostics, products, and services that use technology often to focus on women's health.[1][2][3] This sector includes fertility solutions, period-tracking apps, pregnancy and nursing care, women’s sexual wellness, and reproductive system health care.[2][4]

Overview[edit]

Femtech was coined by Ida Tin, a Danish entrepreneur who founded Clue, a period- and fertility-tracking app.[5][6] As an industry, femtech largely encompasses any digital or standard health tools aimed at women's health, including wearables, internet-connected medical devices, mobile apps, hygiene products, and others.[5][7] The concept of a digital women's health category is relatively new.[2][5][6][8][9] In 2015, Femtech startups raised around $82 million in funding from investment firms.[2][8] In March 2017, the total amount of funding raised by femtech companies since 2014 had reached $1.1 billion.[1][5] In March 2018, Frost & Sullivan released new data, predicting a market potential of $50 billion by 2025 [10] Estimates suggest that around $200 billion is being spent on femtech products each year.[6]

Companies and products[edit]

There are numerous femtech companies offering a variety of different products throughout the world. Companies that produce period- and/or fertility-tracking mobile apps include, Clue, Glow, [11] Eve, Cycles, My Calendar, Life,[5][12] FertilityIQ, Extend Fertility, Forte Medical, Flo and others.[6][2][9] Companies that offer services like IVF, egg freezing, and medical treatments include Univfy, [13] Progyny and Prelude Fertility.[6] Similarly, the fertility company, Ava, produces a wearable that tracks fertility.[14] By contrast, Nurx provides a telemedicine service where women can get birth control prescribed via an app, and have the pills delivered.[6]

Several companies also produce internet-connected medical devices that are often paired with mobile apps to track specific data. For instance, Naya Health and Elvie produce a connected breast pump[5][9]. Elvie also offers a kegel tracking device.[15] Lioness produces a smart vibrator.[1] Other medical devices and implements produced in the femtech category may or may not use an internet connection. Joylux is a women’s health technology company creating medical and feminine wellness devices under the vSculpt and vFit brands. Willow Pump produces a hands-free breast pump that works automatically.[1] Companies like L. and Flex offer alternatives to standard tampon and condom products.[5] Thinx sells reusable underwear that absorbs menstrual blood.[1] iPulse Medical sells a menstrual pain relief wearable device[16].

Swedish company Natural Cycles was the first to receive official approval to market its app as digital contraception in the European Union and in August 2018 the Food and Drug Administration approved marketing in the U.S..[17] Controversy around the app as a contraceptive device grew stronger after numerous women in Stockholm reported unplanned pregnancies after using the app.[18]

References[edit]

  1. ^ a b c d e Fromm, Mona (4 March 2017). "The Femtech Revolution". Handelsblatt. Retrieved 12 April 2017.
  2. ^ a b c d e Richmond, Jill (31 December 2016). "The New Year Of Optimisim For Femtech". Forbes. Retrieved 12 April 2017.
  3. ^ Mack, Heather (30 November 2016). "Clue gets $20M to enhance intelligence of period-tracking app, grow team". MobiHealthNews. Retrieved 12 April 2017.
  4. ^ Thompson, Melissa (5 January 2017). "2016 Saw Huge Improvements in FemTech; Here's Why". The Sociable. Retrieved 12 April 2017.
  5. ^ a b c d e f g Magistretti, Bérénice (5 February 2017). "The rise of femtech: women, technology, and Trump". VentureBeat. Retrieved 12 April 2017.
  6. ^ a b c d e f Hinchliffe, Emma (29 December 2016). "Why 2016 was a huge year for women's health tech". Mashable. Retrieved 12 April 2017.
  7. ^ Parker, Leia (13 September 2016). "Will the "femtech" revolution really offer a "digital contraceptive" and detect diseases through a phone?". Silicon Valley Business Journal. Retrieved 12 April 2017.
  8. ^ a b Caspi, Heather (15 September 2016). "Rise of 'femtech' promises health solutions for women". Healthcare Dive. Retrieved 12 April 2017.
  9. ^ a b c Mack, Heather (16 September 2016). "Digital health tools for women a growing, necessary and wanted market". MobiHealthNews. Retrieved 12 April 2017.
  10. ^ https://venturebeat.com/2018/03/08/frost-sullivan-femtech-could-become-a-50-billion-market-by-2025/
  11. ^ Burke, Adrienne Jane (17 October 2013). "When the Quantified Self Wants to Conceive a Child". Techonomy Media. Retrieved 6 June 2017.
  12. ^ Buhr, Sarah (30 November 2016). "Period tracking app Clue pulls in $20 million Series B from Nokia Growth Partners". TechCrunch. Retrieved 12 April 2017.
  13. ^ Burke, Adrienne Jane (4 March 2013). "Startup's Data Helps Women Succeed with In Vitro Fertilization". Techonomy Media. Retrieved 6 June 2017.
  14. ^ Hinchliffe, Emma (19 November 2016). "The next frontier in wearables is helping couples conceive". Mashable. Retrieved 12 April 2017.
  15. ^ Magistretti, Bérénice (22 March 2017). "Femtech startup Elvie raises $6 million for its kegel tracker". VentureBeat. Retrieved 12 April 2017.
  16. ^ "The Israeli invention that could end period pain". The Times of Israel. 2016-05-02. Retrieved 2019-01-17.
  17. ^ Ong, Thuy (2017-08-15). "This app is certified in the EU as a form of birth control. Is the US next?". The Verge. Retrieved 2019-03-10.
  18. ^ "Hyped birth control app Natural Cycles has been reported to the authorities - after 37 unwanted pregnancies". nordic.businessinsider.com. 2018-01-11. Retrieved 2019-03-10.