Femtech has arrived with force and it seems that it is to stay. It is already attracting many investors and it seems that many startups are being built around this technological market niche. After the boom of the fintech (technological transformation for the finance sector) and the insurtech (technological transformation of the insurance sector), now it seems that the feminism and women’s phenomenon is selling and catching interest.
Femtech is a term coined to comprehend all those technologies, services, or gadgets which revolve around the world of health and the needs of women. As seen in the main image, they range from simple applications to control the period and fertility and other technologies to improve health or the period of pregnancy to sexual toys. A wide market that feeds a multitude of new companies satisfying the needs of millions of users. The ethical and moral dilemma of the boom of these technologies, which are being considered by some people, is whether they were created with women’s welfare in mind or simply to exploit in a sector of the market that was not previously satisfied. Anyway, if they offer a necessary service and help women to improve their lives minimally, I think the femtech is welcome.
For example, fertility treatments in medical clinics move around 1000 million euros in Spain, not counting the necessary drugs, psychological support (if necessary), or wellness. If we consider that this data only refers to Spain and that between 20 and 25% of couples need to face certain fertility problems in Europe, the amount of money is extreme. Some of these problems can be solved with a healthy life, maintaining good eating habits, exercise, control of cycles, etc. And this is what this type of technology can help us with. In many cases these technologies are free (for example: the Spanish app Woom has a free version and another one for € 7.99 / month).