Rise of Femtech: A $50 Billion Market Opportunity
How to tap into emerging market trends and capitalize as a builder & funder
Femtech has a massive total addressable market across multiple billion-dollar industries such as (1) D2C and e-commerce, (2) digital health, (3) at-home test kits, and (4) employee health.
The rise of femtech has elevated equal access to healthcare and well-being for all. Women’s unique health issues are being addressed by companies like Allara Health which treats polycystic ovary syndrome (PCOS); Feminade for hormonal health, Maven Clinic for pregnancy care, and Carrot Fertility for fertility care.
Today, we’ll analyze top startups in femtech—how they are differentiated, how they tap into validated market needs & how builders & funders can capitalize on these market trends.
If you’re new here, 👋 I’m Zoe: builder, ever curious, built 11 MVPs, featured on Lifehacker, Product Hunt #1, and tech blogs in 7 countries. Also a Medium Top Writer & HackerNoon winner in VC topics. I unpack new insights on profitable markets — and how you can build the future of consumer tech. You may also like:
Top 9 Femtech Market Trends
(1) VC funding in femtech is growing:
Globally, femtech startups raised $2.5 billion in Q4 2021 — up 3x from $750 million in 2020.
Femtech funding is making positive progress, however, a significant funding gap still exists–with only 7% of digital health funding going to women’s health.
(2) Rise of femtech unicorns and top funding round:
Illumigyn, a remote gynecological screening platform closed $33M.
(3) DTC femtech brands are becoming the target for acquisition:
(🔒 Full version) +6 more key trends in the Femtech space:
🔑 (4/9) New market segment that is gaining massive traction—what products do they offer? (3 company examples)
🔑 (5/9) How to build software that offers holistic wellness for women? (3 company examples)
🔑 (6/9) What new product offerings attract enterprise customers? (2 company examples)
🔑 (7/9) How women’s self-care apps are advancing to attract users? (2 company examples)
🔑 (8/9) New e-commerce categories that are attracting consumer interest. (6 company examples)
🔑 (9/9) How to apply the connected devices in the healthcare market? (4 company examples)
Total 108 Market Players, Competitors List & Databases
Find market niches, discover similar competitors, and explore ways to differentiate your new ideas:
🗃 108 company databases: value proposition, website, stage, total funding raised, year founded, company size, and location.
👌 Filter competitors by categories. Or search by product name, country, funding stage, etc.
6 Problems to Solve that are Meeting Consumer Needs
(1) Severe shortage of medical professionals:
The current ratio is 1 OB/GYN: 3,000 women. Patients are not getting the treatment they need.
New companies solve this by digitizing access to healthcare providers, diagnosis, care management, ongoing support, and prescription.
(2) Fertility treatment is expensive:
1 in 5 women struggles with infertility. In the U.S., in vitro fertilization (IVF) costs $12,000 to $17,000 (excluding medication) and $25,000 with medication costs. Couples usually go through 3 to 6 treatments to conceive.
Kindbody makes fertility care more affordable: $250 for a full fertility assessment; $6,000 per egg-freezing cycle.
(🔒 Full version) +4 more well-defined market needs in the space:
🔑 (3/6) How to discover big market needs by understanding women’s biggest health issues? (2 company examples)
🔑 (4/6) What problems do existing players sucks at—and how can startups solve them 10x more effectively? (2 company examples)
🔑 (5/6) How to solve the maternal healthcare crisis through connected platform? (3 company examples)
🔑 (6/6) How to address underserved markets and which target audience to focus on? (3 company examples)
4 Business Models that Create Multiple Revenue Streams
(1) Full-stack digital health model:
Companies create integrated, end-to-end layers of (1) digital patient care using telehealth (2) medical networks (3) built-in tech stack to manage payment, appointment, storefront, revenue management (4) connection with other stakeholders in the ecosystem.
Most common in companies that offer all-in-one virtual clinics for women’s health. Example: Synora Health, Diana Health.
A full-stack model is able to generate multiple revenue streams because the startup has the tech capacity to roll out additional products. Without relying on intermediaries or third-party vendors, full-stack startups take all the profits and bypass commission fees.
(🔒 Full version) 🔑 (2), (3), (4) +3 more business models implemented by market players
7 Next Big Things in Femtech, Future Demand & Solutions Needed
(1) D2C gynecological care:
Cervical cancer is one of the top five cancers for women, however, traditional gynecological care is inefficient. Patients are required in-personal visits for cervical examination, screening isn’t documented and additional procedures are required.
Illumigyn is a remote gynecological imaging platform where women can be examined in the comfort of their homes by a trusted practitioner. Illumigyn uses HD pap smears test, superior magnification for accurate diagnosis, digitally store medical information, and online follow-up consultation.
As cancer prevention awareness is on the rise, more “at-home gynecological examinations” that leverage the direct-to-consumer model and remote patient monitoring tech will pop up in this space.
(🔒 Full version) +6 more untapped market needs to leverage & capitalize:
🔑 (2/7) How can fertility care startups tap into new technology to deliver exceptional treatment success rates? (1 company example)
🔑 (3/7) How can e-commerce brands leverage the successful use cases in Femtech? (3 company examples)
🔑 (4/7) What emerging products are being developed that can tap into this $8 Billion dollar industry? (2 company examples)
🔑 (5/7) How to attract GenZ women, and consumers, by understanding their shifting needs? (3 product category examples)
🔑 (6/7) How to build the future of women’s healthcare for practitioners? (3 company examples)
🔑 (7/7) Which untapped market has a $533 Billion market size and constantly seeking new solutions in the Femtech space? (3 important use cases)