Becker's Healthcare April 12, 2021
Women represent half of the global population, but only a fraction of technology is geared toward women. Growth in “femtech” may finally change that, according to an April 7 report by The New York Times.
Femtech is technology and software addressing women’s biological needs. The term was first coined by Ida Tin, the founder of Clue, a period and ovulation tracking app established in 2013.
In 2019, the femtech industry generated $820.6 million in global revenue and received $592 million in venture capital investment. According to a March 2020 report by Frost & Sullivan, a research and strategy firm, revenue from femtech is expected to reach $1.1 billion by 2024.
“The market potential is huge,” said Michelle Tempest,...