The FemTech world has been working hard to address women’s health and wellness issues and offer the easiest solutions that women need. In recent years, we’ve seen increased growth of the FemTech industry in many innovative, exciting ways.
KindBody was founded to expand fertility options for women and families through their employers. Wearables like the Oura Ring and Ava bracelet now make fertility and menstrual tracking more accurate and convenient. Revolutionary products such as these showcase advancements in technology and that FemTech is on an upward trajectory.
Unfortunately, this wasn’t the case five years ago. The industry was still largely asleep to the potential of FemTech. Between the problems that FemTech has worked to shine a light on and the booming health and wellness movement, however, the sector has gained amazing momentum and attracted the attention of venture capitalists and angel investors. Powered by the wellness movement, more and more women are also advocating for their own health and wellness needs, seeking information and solutions.
More advocacy groups and awareness campaigns are being created to help women find information, learn about their rights, and access resources. These trends in women’s health have continued to fuel the progress of FemTech by promoting the significance of women’s health and wellness and highlighting the needs of women that have previously gone unmet and unheard.
FemTech Products and Their Impact
Among countless FemTech products and solutions, there are two inventions that have become the most iconic and are potentially already shaping your life: wireless breast pumps and menstrual tracking apps.
Wireless Breast Pump: Traditional breast pumps were essential for breastfeeding women but had many limitations, like requiring a power source (thus limiting portability). A typical pumping session might take about 20 minutes, so lactating mothers with traditional breast pumps would have to schedule out their pumping sessions to ensure proximity to a power source. This has historically left pumping sessions to be frustrating, tedious, and lonely affairs as parents also juggled multiple children, work, or other essential life events while stuck in one location.
However, the advent of wireless breast pumps has changed the game for mothers. They are portable, easy to use, and give mothers the option to multitask or even just pump while away from home. Wireless breast pumps that can fit within bras for a more discreet and hands-free experience, such as the Elvie or Willow 3.0, have truly transformed breastfeeding for many mothers, providing them with greater freedom, flexibility, and control over their schedule and their ability to care for their child.
Menstrual Cycle Tracking Apps: These apps use data and AI to track women’s menstrual cycles and reproductive health. Menstrual cycle tracking apps have become so ingrained in our daily lives that most women with access to technology have at least one period-tracking app on their phones.
These apps usually provide personalized insights and recommendations. Based on past cycles and specific algorithms, women can anticipate future ovulation days and when their periods might start, depending on the app. This ability has empowered women with a sense of ownership of their own health, fertility, and wellness. So much so that FemTech solutions like Qvin are poised to allow the use of menstruation blood as a health testing source. Women who menstruate could have a non-invasive and needle-free way of managing their health.
How FemTech Leaders Can Improve Access, Outcomes, and Healthcare Progress
Pioneering FemTech companies and innovative leaders often put all their effort into perfecting the latest products and solutions, but true effectiveness depends on making access to these solutions as effortless as possible. As women’s health needs continue to evolve, it is crucial to continue finding new and better ways to market these solutions to ensure that they are readily accessible.
To address this, here are four industry-specific strategies that FemTech leaders can use for healthcare advancement.
1. Evaluate Target Audiences’ Needs and Experiences: To succeed in the FemTech industry, leaders in the FemTech space should invest in research to better understand the needs and experiences of their target audience. This can include conducting surveys, focus groups, and other research initiatives to gain insights into the challenges women face when it comes to accessing healthcare and the solutions that would be most helpful to them. Understanding their customers’ experiences can help companies create innovative products and marketing strategies that improve accessibility and outcomes in women’s healthcare and wellness.
2. Develop a Data-Driven Marketing Strategy: FemTech companies use marketing to reach their target audiences. Data and analytics can play a critical role in helping FemTech companies to develop a marketing strategy that is targeted and effective. This is the more successful approach as it focuses on the challenges of a specific group of people, whether cultural or socioeconomic. FemTech leaders should leverage the data related to consumer behavior and preferences found in their research initiatives to identify those in need and maximize their marketing efforts.
3. Partner With Healthcare Providers and Insurers: Partnerships between healthcare providers, insurers, and FemTech companies can improve healthcare accessibility for patients. Healthcare providers can promote partnered FemTech solutions to their patients, which makes it easier for patients to access these solutions and have informed conversations with their providers about what is right for them. And working with insurers can make the process affordable by covering costs, which allows more patients to access the technology. For instance, breast pumps are now covered by all insurance providers, making them more accessible.
4. Focus on Education and Awareness: Education and awareness initiatives are critical tools to make women aware of the benefits they can get from FemTech solutions. Companies can host events or webinars and partner up with influencers and advocates to educate women about the importance of their solutions. App solution company Natural Cycles does that by providing research-backed guides and articles to help enlighten consumers about their physical health.
FemTech has revolutionized women’s health by providing innovative solutions that address unique healthcare needs while improving accessibility and outcomes. The industry will continue to evolve as technology advances and more women advocate for their own health and wellness needs. FemTech leaders should focus on developing products and marketing strategies that address the challenges women face when accessing healthcare. By partnering with healthcare providers and insurers, FemTech companies can make healthcare access effortless and inspire continued progress in the healthcare industry as a whole.
