By Chaitali Roy

women’s health care and Well being This has received a great deal of attention in recent years, with individuals and businesses actively trying to understand the unique health care needs of women. From a business perspective, the last decade has seen a rise in businesses leveraging technology to offer products and services dedicated to ensuring women’s well-being and good health. This new market is known as femtech, has attracted a lot of attention for good reason. This article explains what FemTech is and its significant impact on women’s health. India,

Introduction to Femtech

Femtech is the short form of women technology, was first coined in 2016 by Danish entrepreneur and author Ida Tinn. Since then, the FemTech field has evolved to include a range of technology-enabled, consumer-focused products and solutions. This includes everything from software and services to meet the health needs of women.

Femtech also includes fertility solutions, period-tracking apps, pregnancy and nursing care resources, sexual wellness products, and reproductive system health devices. With these innovations, women can monitor their health in all aspects, from managing their menstrual cycles to planning pregnancies, addressing reproductive health concerns and even completing motherhood seamlessly. .

development statistics

To understand how much the FemTech market has grown over the years, one just has to look at the numbers. According to a research report by Facts & Factors, the global FemTech market, which was valued at approximately US$15 billion in 2019, is projected to reach US$71 billion by 2026, growing at a CAGR of 17 percent from 2020. In India, the Femtech market is on an upward trend, estimated to reach US$4 billion by the end of 2024.

need for femtech

While the FemTech segment has grown significantly, it is important to understand why there is an urgent need for it in India. India has long been a country where conversations on women’s health and well-being have been shrouded in stigma, with even public discussions being social taboos. Femtech has emerged as a symbol of empowerment and progress, breaking all barriers. By bringing innovative solutions to the masses, FemTech democratizes access to health care, creates awareness and facilitates a culture of active self-care for women of all ages.

Additionally, FemTech can disrupt the healthcare industry in a number of ways, including improving care delivery, enabling self-care, increasing the accuracy of diagnosis, addressing stigmatized topics, and providing tailored care. FemTech can also provide personalized, data-driven insights into various aspects of women’s health. In short, the continued growth and advancement of FemTech will mean making essential healthcare services for women more convenient and easily accessible.

Game-changing innovation

As the FemTech field is gaining momentum, more and more companies are actively researching and innovating in this field, and achieving remarkable success over time.

For example, non-invasive devices that check hemoglobin levels are a boon, as 57 percent of women in the 15-49 age group in India suffered from anemia as of 2019-2021. Continuous innovation is being done in the healthcare sector, in which special attention is being given. women’s HealthCare and Wellness, companies are also working on products that will provide women with valuable information about their ovulation cycles and quantitative data on their hormone levels. New tools like these further advance the evolution of FemTech and its transformative impact on women’s health across India.

Epilogue

Femtech is bringing a paradigm shift in the thinking and approach of the society regarding women’s health. By breaking taboos and enabling previously silenced conversations, FemTech empowers women to make informed decisions about their well-being. FemTech not only improves individual health outcomes but also ensures a more inclusive health care landscape for all, especially women, who have long suffered the effects of lack of adequate care and treatment. As the FemTech segment continues to grow, the combined efforts of brands, individuals and government support will create a future where every woman will have adequate knowledge and resources to keep her health in good condition and seek help when needed. Will be able to take help.

The article is written by Chaitali Roy, COO and Co-Founder of EzeRx.

(Disclaimer: The views expressed are solely those of the author and ETHealthworld.com does not necessarily subscribe to it. ETHealthworld.com will not be responsible for any damage caused to any person/organization, directly or indirectly )