The target audience of these technologies has also broadened over time. Although the majority of femtech falls under the direct-to-consumer category (with products such as smartphone apps and devices including everything from newly designed breast pumps to wearable fertility trackers), there are also companies that create products for HCPs (like updated diagnostic tools or apps to support HCPs on particular women’s health topics).
As we discussed in our previous blog, ‘Marketing healthcare and lifestyle to millennials’, people between the ages of 24–40 have a particularly strong demand for convenient, digital solutions. In fact 36% of all online purchases come from the millennial generation.11 However, the older generations Gen X and Baby Boomers, along with the younger Gen Z are also embracing digital.12
As a result, this digital-focussed industry follows the trend by predominantly creating products for women in their reproductive years. There is a vast array of products focussed on cycle tracking, pregnancy planning and the early years of motherhood. As the industry expands, we are also seeing more products available for the older age groups who still have a strong digital capability: for example apps that provide advice on going through menopause.13
Ultimately, the major benefits of femtech include allowing these women to gain a greater level of understanding and control over their own health along with widening access and knowledge to the less well-understood women’s health topics, all in an innovative and digitally convenient way.