Look At FemTech Surging…By The Millions!
Written by Dr. Brittany Barreto, Founder & CEO, FemHealth Insights
As the CEO and Founder of FemHealth Insights, I am proud to share the remarkable findings from our 2023 FemTech Landscape Report. This year, we've seen the FemTech sector mature and thrive amidst a challenging investment landscape, signaling robust confidence in the potential of women's health technology.
Our report reveals that despite broader economic headwinds, FemTech has continued to attract noteworthy investment. In 2023, we observed significant funding rounds that underscore the sector's resilience and growth potential. For instance, Kindbody's $100M funding round and Midi Health's $25M investment highlight the sector's dynamism and the investor community's belief in FemTech's transformative power.
The surge in startups over the past few years is particularly striking. With half of the 1,416 active FemTech companies established since 2019, we are witnessing a rapidly expanding sector. This growth is driven by a confluence of factors, including an increase in female entrepreneurship, a rise in women in STEM focusing on women's health issues, and a growing number of women in finance investing in early-stage FemTech.
Geographically, the United States continues to lead with 716 startups, followed by the United Kingdom, France, Canada, and Israel. This distribution underscores the global nature of the FemTech movement, with significant concentrations of innovation in specific regions.
Our analysis also highlights the diversity within the industry, with Consumer Packaged Goods (CPG) leading the product type distribution. However, we've seen a notable shift towards Care Delivery and Digital Health, with 75% and 72% of companies in these categories founded in the last five years, respectively. This trend indicates a fundamental shift in how women's healthcare is accessed and delivered, emphasizing convenience and accessibility through digital means.
The sustainable exits and returns in 2023 were truly astounding. Most notably for exits, the unicorn exit of Myovant Sciences, which Sumitovant Biopharma acquired for $1.7 billion USD. In addition, Bonafide Health, which offers supplements for menopausal symptoms, was acquired by Pharmavite for $425 million after 12 years in operation. With $25 million raised, this resulted in a 17-fold return.
Our report concludes with predictions for FemTech in 2024, including a greater emphasis on personalized health solutions, expansion into untapped health domains, and the rise of FemTech in global health strategies.
I invite you to dive deeper into these insights and explore the full 2023 FemTech Landscape Report. Then join me on Wednesday, April 17th, at 12 pm ET, (Register for free HERE) where I’ll provide the TL;DR on the most significant stats and trends in women’s health. Join us as we continue to monitor and support the growth of this vital sector, which promises to redefine women's healthcare for generations to come.
About the Author:
Dr. Brittany Barreto, Ph.D., is Founder and Chief Innovation Officer at FemHealth Insights. Every day, Brittany dedicates her work to advancing women’s health innovation by equipping key stakeholders with data-driven insights and strategic advice on the FemHealth market. She is also host of the FemTech Focus Podcast - the number 1 femtech podcast globally.
