Health is considered as the most valuable and precious for every individual but specifically for females, it is necessary to take care of their physical and mental health. In support of this, the term Femtech was introduced, which according to financial data and research company generated $820.6 million in global revenue and received $ 592 million in venture capital investment
Femtech is a female technology that includes software development, diagnostics, products, and services that mainly focus on female health and related issues. Innovation in this field falls under the following classifications:-
- Mensuration tracking apps and care products
- Sexual desires
- Wellness in breastfeeding
- Birth-control delivery services
- Infant care
Femtech is the new light of hope for women investors in healthcare.This term was first coined in early 2016 by Ida Tin. As this technology is growing faster, many stakeholders are keen to invest in this particular field. The idea behind this industry is to provide gentle living and solutions to healthcare problems faced by a woman.
Years ago, when there were no such medical and healthcare solutions in the market, females faced many difficulties during their life span including childbirth, menstrual cycle, sex-related issues, etc. But as now as technology is emerging it is becoming quite easier to understand women’s psychology.
Keeping an eye on the data analysis, we can clearly state that Femtech will rule the world and it’s not niche, as women represent half of the planet. Today we have a lot of menstrual tracking devices, medicines, and pills, cancer treatment solutions, ultrasound therapy, exercise and trainee apps, fertility-tracking mobile apps.
Artificial intelligence(AI) has increased its branches in almost every sector including Femtech’s world by curing many diseases. It helped in the improvisation of embryo selection during the process of IVF with a minimum difference of 25% and in doing so is helping to reduce the number of cycles needed to achieve a pregnancy. In the early ages when the concept of the period was not that much familiar in society, women had to visit a clinic on the third day of their cycle to check fertility. But now techs like AI and machine learning are used to analyze collective user data and it is easily accessible through mobile applications.
There are many health apps in which you can feed your details and track your period cycle and a cure is available to treat the infection in women’s body and by 2024 there will be more growth in this field as Technology only believes in adding new dots, subtraction doesn’t fall under its umbrella. So far now Femtech has made an easy and comfortable living for women and still counting more on it.