Twenty healthtechs focused on monitoring women’s health

During the week in which International Women’s Day is celebrated, the FemAging project, a global initiative focused on supporting and leveraging innovation to improve the health and well-being of women over 40, presented 20 initiatives that develop innovations for this target. The organization also released the FemAging 2023 report, with an index generated from research conducted in the states with 1,000 women between 40 and 65 years old.

The FemAging project was launched in 2020 to stimulate innovation in software, devices, wearables, and other areas targeting women over 40. The intention is to host a series of online events in the coming months based on the survey results, highlighting data on black, Asian and Hispanic groups.

“Since we launched the FemAging project, we have seen advances in the availability of products, services, and innovations aimed at women over 40. However, there is still much work to be done. The FemAging 2023 report presents data, analysis and strategic advice that can help drive global innovation in this area even further in the coming years,” highlights Denise Pines, co-founder of the FemAging project.

For the 2023 report, the FemAging project analysed over 100 companies in the areas of femtech, women’s health, apparel, health, food, beauty, among others, to identify the 20 “FemAging Tech Champions”. The primary focus was to highlight emerging, growing and established companies and innovators.

Innovative initiatives that have developed digital products, services and solutions for women over 40 include:

• Bloomer Tech, which has developed a bra with sensors to capture vital heart health data. This data can be plugged into machine learning models to identify biomarkers related to heart disease, heart attacks and strokes.

• Moonalisa, an early-stage startup developing a sleep clinic with professors from Stanford and Harvard. The solution will allow teleconsultations, digital therapies and coaching for female employees.

• Midi, which has developed a virtual clinic as a focus on addressing the health needs of women experiencing perimenopause, menopause and other conditions associated with fluctuating hormone levels.

• Hormona, which started as an online community and has evolved to offer a hormone monitoring app.

• Renalis, which is developing several digital therapies focused on treating pelvic health disorders, including overactive bladder.

• Embr Labs, which has developed Embr Wave, a personal thermostat that aims to improve sleep, relieve anxiety and help better control heat waves.

• Roga, therapeutic wearable to be worn as a pair of headphones. It works by sending gentle pulses to the brain that signal safety to the nervous system and can help relieve stress and anxiety.

Among the report’s key revelations, the FemAging Index identified that older women are trend-setters in technology adoption in some areas: 41% of the 40-65 year old group use voice-activated solutions (Alexa/Siri); 35% use wearables devices; 30% use smart home technologies; and 8% report using digital/cryptocurrencies.

Overall, 58% of the women interviewed have significant concerns about their ability to remain active, healthy, and independent as they age. They face health problems associated with ageing and hormonal changes due to perimenopause and menopause, particularly in the areas of sleep, stress and anxiety, and cognitive problems (reduced ability to concentrate and forgetfulness). Black women between the ages of 40 and 65 have specific health and well-being needs, sometimes responding differently to menopausal symptoms.

In Q2 2023, the FemAging Project will launch Femaya, a smart platform based on GPT, the same technology behind ChatGPT, to answer questions from the female audience about health and ageing, identify innovation trends and introduce companies working in the field, among other issues.

Challenges for innovation in women’s health

According to the FemAging report, one of the most difficult challenges associated with promoting innovation in women’s health is overcoming organizational, social and individual barriers, to name a few. Dealing with female ageing is an entirely new field, historically under-recognised and undervalued.

Thriving in the face of these barriers depends on cultivating behaviours, mindsets and habits at the individual and organisational levels, the research highlights. Women’s health innovation efforts are worthwhile, as it is the fastest-growing segment in recent years, with the potential to reach US$75.1 billion, according to research by FemTech Analytics.

The study warns, however, that many so-called femtech products and services focus so far on pregnancy, breastfeeding and reproductive health. Only 6% of femtech companies focus on menopause care. This may change, with women speaking more openly about the need for more resources to have better menopause and ageing periods, following the example of several global celebrities who have publicly addressed their experiences.

This stance can contribute to changing social norms and lead to more investment in this area. Research conducted in 2020 by the Female Founder’s Fund suggests that the market around menopause could represent a US$600 billion opportunity.