Frost & Sullivan research reveals a shortage of investment in Femtech
The shortage of investment in women’s health technology, commonly referred to as Femtech, and the adverse effect of the COVID-19 pandemic on women’s health was discussed at the Healthcare Transformation Talks at Arab Health, with new research by Frost & Sullivan predicting that by 2030, the focus will shift to providing an all-inclusive health technology solution that supports women through their life.
According to the latest research from Frost & Sullivan, which was revealed at Arab Health, the COVID-19 pandemic is deepening pre-existing gender gaps, exposing vulnerabilities in our societies and heightening critical funding gaps. In 2020, women lost 64 million jobs translating to $800 billion in earnings, and it is estimated there could be 7 million unintended pregnancies leading to maternal mortalities. In addition, many other unresolved challenges remain, including unattended mental health, lack of care for senior women, mental health for children, and workplace challenges, for example.
According to Reenita Das, Senior VP and Partner, Frost & Sullivan, who addressed the audience at the Healthcare Transformation Talks, “With the world’s female population expected to reach 4.2 billion in 2030, there is still a shortage of investment in Femtech with women’s health only receiving 5.8 percent (or US$1.7 billion) of the $29 billion invested in digital health in 2021 worldwide. Several barriers remain to realise the full potential in supporting Femtech, including a lack of women as VCs and accelerators and Femtech apps being created by men.
Frost & Sullivan predicts that menopause and senior care will have a growth rate of over 19 percent by 2030 in the global Femtech solutions market, while fertility solutions will continue to hold the lion’s share of revenue ($936.1 million) at a steady 13.2 percent.
“The future is in gender-specific health and wellness, for both women and men. We need to stop looking at healthcare as a product, and our definition of healthcare needs to change. Health is more than an absence of disease, it is about building the prevention and prediction part of the system, which will be integral to the long-term success of our communities, and enlisting businesses, medical providers, governments and non-profits to work together,” Das added.