New Global FemTech industry report shows UAE making new strides in this sector
According to the latest 2021 Global FemTech Industry report published by FemTech Analytics, a subsidiary of UK-based consortium Deep Knowledge Group, the UAE appears to be entering a significant new wave of healthcare for women, driven by greater awareness and openness about female health topics.
The report also cited changing perceptions about women’s health issues, market accessibility for female founders, increasing demand for reproductive health products and services, growing interest from VCs and angel investors in FemTech, facilitative government efforts and a number of FemTech projects set to launch in 2022 as a contributing factor.
The UAE is well-positioned to achieve exponential growth within the FemTech industry, considering the array of existing startups providing feminine hygiene products and educational tools such as Pectiv, Orgabliss, MyLily and LiZZOM, and the several more expected to arise over the coming few years.
E-commerce platforms focused on women’s healthcare represent a key driver of the UAE’s FemTech sector. Digital platforms in the Pregnancy & Nursing sub sector offering consumer products for mums-to-be, new mums and kids to enjoy motherhood journey include Mama's Box, Mumzworld and BabySouk.com.
Kate Batz, Director of FemTech Analytics, added, “One-third of MENA’s FemTech companies are based in the UAE, where innovation, women empowerment and gender equality are matters of national priority. Countries like the UAE are leading the way and gradually breaking down taboos surrounding female health thanks to a culture of openness, high-levels of health awareness and the tech savviness of the government, the private sector and civil society. As a result, society at large is becoming more and more receptive to engage in conversations about such topics and embrace positive change in support of the FemTech sector.”
According to the report, the US continues to dominate the FemTech market with over 50 percent of FemTech companies globally, followed by Europe (25 percent) and Asia (9 percent). The UK and Israel boast the highest number of FemTech companies in their respective regions with 10 percent and 6 percent of the total number of businesses, while Asia's undisputed market leader is India with 4 percent of FemTech companies.
Based on the analysis of over 1,300 FemTech companies, 1,290 investors, 14 R&D centres and 22 community organisations worldwide, the 2021 Global FemTech report showcases market trends, innovations, growth opportunities and investment prospects of a rapidly growing industry. It also includes interviews with FemTech leaders, a list of the top 150 FemTech influencers and case studies featuring prominent FemTech companies.
According to the report, the total market capitalization of 28 global publicly traded FemTech companies accounted for almost $70 billion as of December 2021, with pregnancy and nursing as the largest sub sectors taking 68 percent of the total market.
Nonetheless, the level of investments in FemTech remains low as highlighted by the 2021 Global FemTech Survey published in October 2021.