Rise of Femtech: Market Trends, Opportunities & Revenue Model

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Issue #17

Femtech has a massive total addressable market across multiple billion-dollar industries such as (1) D2C and e-commerce, (2) digital health, (3) at-home test kits, and (4) employee health.

The rise of femtech has elevated equal access to healthcare and well-being for all. Women’s unique health issues are being addressed by companies like Allara Health which treats polycystic ovary syndrome (PCOS); Feminade for hormonal health, Maven Clinic for pregnancy care, and Carrot Fertility for fertility care.

Today, we’ll analyze top startups in femtech — how they are differentiated, how they tap into validated market needs & how builders & funders can capitalize on these market trends.

Top 9 Femtech Market Trends

(1) VC funding in femtech is growing:

  • Globally, femtech startups raised $2.5 billion in Q4 2021 — up 3x from $750 million in 2020.
  • Top categories for femtech funding: Primary care ($668 million), Pregnancy and parenthood care ($316 million), and Fertility support ($220 million).
  • Femtech funding is making positive progress, however, a significant funding gap still exists–with only 7% of digital health funding going to women’s health.

(2) Rise of femtech unicorns and top funding round:

(3) DTC femtech brands are becoming the target for acquisition:


(🔒 Full version) +6 more key trends in the Femtech space:

🔑 (4/9) New market segment that is gaining massive traction — what products do they offer? (3 company examples)

🔑 (5/9) How to build software that offers holistic wellness for women? (3 company examples)

🔑 (6/9) What new product offerings attract enterprise customers? (2 company examples)

🔑 (7/9) How women’s self-care apps are advancing to attract users? (2 company examples)

🔑 (8/9) New e-commerce categories that are attracting consumer interest. (6 company examples)

🔑 (9/9) How to apply the connected devices in the healthcare market? (4 company examples)

Total 108 Market Players, Competitors List & Databases

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  • 🗃 108 company databases: value proposition, website, stage, total funding raised, year founded, company size, and location.
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6 Problems to Solve that are Meeting Consumer Needs

(1) Severe shortage of medical professionals:

(2) Fertility treatment is expensive:

  • 1 in 5 women struggles with infertility. In the U.S., in vitro fertilization (IVF) costs $12,000 to $17,000 (excluding medication) and $25,000 with medication costs. Couples usually go through 3 to 6 treatments to conceive.
  • New femtech players strive to bring down the IVF costs through employee benefits (Carrot Fertility, Progyny), wearable devices (Ava Fertility), and a precision approach (OOVA).
  • Kindbody makes fertility care more affordable: $250 for a full fertility assessment; $6,000 per egg-freezing cycle.

(🔒 Full version) +4 more well-defined market needs in the space:

🔑 (3/6) How to discover big market needs by understanding women’s biggest health issues? (2 company examples)

🔑 (4/6) What problems do existing players sucks at — and how can startups solve them 10x more effectively? (2 company examples)

🔑 (5/6) How to solve the maternal healthcare crisis through connected platform? (3 company examples)

🔑 (6/6) How to address underserved markets and which target audience to focus on? (3 company examples)

4 Business Models that Create Multiple Revenue Streams

(1) Full-stack digital health model:

  • Companies create integrated, end-to-end layers of (1) digital patient care using telehealth (2) medical networks (3) built-in tech stack to manage payment, appointment, storefront, revenue management (4) connection with other stakeholders in the ecosystem.
  • Most common in companies that offer all-in-one virtual clinics for women’s health. Example: Synora Health, Diana Health.
  • A full-stack model is able to generate multiple revenue streams because the startup has the tech capacity to roll out additional products. Without relying on intermediaries or third-party vendors, full-stack startups take all the profits and bypass commission fees.

(🔒 Full version) 🔑 (2), (3), (4) +3 more business models implemented by market players

7 Next Big Things in Femtech, Future Demand & Solutions Needed

(1) D2C gynecological care:

  • Cervical cancer is one of the top five cancers for women, however, traditional gynecological care is inefficient. Patients are required in-personal visits for cervical examination, screening isn’t documented and additional procedures are required.
  • Illumigyn is a remote gynecological imaging platform where women can be examined in the comfort of their homes by a trusted practitioner. Illumigyn uses HD pap smears test, superior magnification for accurate diagnosis, digitally store medical information, and online follow-up consultation.
  • As cancer prevention awareness is on the rise, more “at-home gynecological examinations” that leverage the direct-to-consumer model and remote patient monitoring tech will pop up in this space.

(🔒 Full version) +6 more untapped market needs to leverage & capitalize:

🔑 (2/7) How can fertility care startups tap into new technology to deliver exceptional treatment success rates? (1 company example)

🔑 (3/7) How can e-commerce brands leverage the successful use cases in Femtech? (3 company examples)

🔑 (4/7) What emerging products are being developed that can tap into this $8 Billion dollar industry? (2 company examples)

🔑 (5/7) How to attract GenZ women, and consumers, by understanding their shifting needs? (3 product category examples)

🔑 (6/7) How to build the future of women’s healthcare for practitioners? (3 company examples)

🔑 (7/7) Which untapped market has a $533 Billion market size and constantly seeking new solutions in the Femtech space? (3 important use cases)

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