The Femtech industry has experienced remarkable growth in recent years, both in terms of investment and innovation. In fact, Deloitte has reported that FemTech is expected to hit a market value of over $100 billion by 2032 within the $1 trillion women’s health market highlighted by McKinsey. This momentum reflects a growing recognition of gender-specific healthcare needs within the public awareness, legislation and investors, underscored by the advocacy of leaders such as VP Kamala Harris, First Lady Jill Biden and Melinda Gates. These advocates have championed issues from maternal mortality to reproductive rights in order to bring meaningful advances to women’s health in the United States. As the Biden administration draws to a close, the focus turns to the future: what’s next for women’s health, and how can we sustain and expand on this progress under a new government?

Policy, Advocacy and Awareness

Legislative support remains vital to creating lasting change in women’s health. The Biden administration illustrated that policy can drive significant advancements in research and innovation, but sustainable change requires continued advocacy and collaboration between government and private sectors. For innovation in women’s health to flourish, it’s essential that the industry partners with policymakers to ensure a favorable regulatory environment and push for healthcare reforms that address gender-specific health gaps.

With Donald Trump set to return to office with his administration in January, it is essential for women’s health initiatives to find support both within and outside of the government. Melania Trump recently released a video where she expressed her support for women’s “individual freedom” describing it as an “essential right that all women possess from birth”. This could signal her willingness to champion women’s health initiatives from within the White House as Donald Trump enters his 2nd presidential mandate. The future Second Lady, Usha Vance, will also hold an important platform, enabling her to play a unique role in this domain with many opportunities to lead important initiatives.

Public perception of Femtech and women’s health has often been limited or misunderstood. Lasting change will require a cultural and educational shift to bring women’s health to the forefront. For example, Jill Biden unveiled in September a set of actions to address health inequities faced by women in the United States. This plan includes spending at least $500 million annually on women’s health research. Such initiatives promise to catalyze significant advancements in women’s health and innovation. Moreover, promoting health literacy and pushing for more comprehensive women’s health education within schools can empower women to proactively manage their health from a young age.

Broadening the Scope and Inclusivity of Women’s Health

Traditionally, women’s health has been centered on fertility, pregnancy, and menstruation. While these areas remain crucial, the future of Femtech lies in expanding into often overlooked health concerns such as menopause, cardiovascular health, mental health, and autoimmune diseases, which disproportionately impact women. With more research and ventures entering this space, we will inevitably be able to better address these critical and forgotten areas in women’s health. Femtech will provide the solutions to bridge this gap.

Women’s health must also prioritize inclusivity. A critical step is recognizing the health disparities that disproportionately affect women of color, LGBTQ+ individuals and women from different socioeconomic backgrounds. Research and innovations must deliver solutions which tailor to these groups’ needs in order to have the biggest impact, reach and effectiveness.

Digital health tools and artificial intelligence offer a promising avenue for providing personalized and powerful tools for women and diverse groups to better manage their health and make healthcare more accessible.

Addressing Funding Gaps for FemTech Startups

Although investments in Femtech have grown over the years, the industry still faces important funding challenges. Despite the growing body of evidence that FemTech can deliver strong returns whilst being highly impactful, Femtech startups still only receive a fraction of the investments in the venture capital space. In fact, McKinsey reports that FemTech companies only receive 3% of all digital health funding.

Bridging this gap will require structural and cultural shifts within the venture capital ecosystem and wider investment space. Encouraging women-led funds and increasing the representation of female investors who prioritize women’s health are essential steps to ensuring that Femtech received the funding it deserves. Expanding funding opportunities for FemTech startups will also call for dedicated funds which prioritize founders addressing female health issues. This approach not only advances women’s health but also mainstreams it within the investment landscape.

At  Goddess Gaia Ventures, we are dedicated to investing in startups addressing health issues that solely, differently and disproportionately affect women. We back founders based on merit, never on background, who are committed to leading best in class ventures which deliver best outcomes in women’s health.

Other notable players include The American Heart Association’s Go Red for Women fund led by Lisa Suennen, which targets several key areas where women face unique health challenges, especially in heat and brain health. Similarly, Melinda Gates’ $250 million Action For Women’s Health initiative aims to fund organizations committed to improving women’s mental and physical well-being.

The Path Forward

As a new administration takes office in the United States in January, the women’s health industry stands at a pivotal moment. Addressing funding disparities, broadening health solutions, and advocating for policy change can position women’s health as a cornerstone of modern healthcare. The future of Femtech holds immense potential, inviting visionary leaders to drive this momentum forward.

In the coming years, Femtech has the power to transform healthcare for generations. This next phase is not only about sustaining progress but also pushing boundaries to ensure that all women have access to the innovative healthcare they deserve.