Tech is transforming every aspect of modern life for women, from wearable tech to fertility trackers so we look at why women are becoming more reliant on this over traditional methods.
Femtech
- Better, more informed choices - Femtech is on the rise more than ever. New innovations include wearable tech and apps like Natural Cycles which has officially been certified as a contraceptive. Empowering women to make better-informed choices about their bodies and based on their individual needs.
- Femtech is changing society’s perception- Femtech and big data proves to governments, societies, and healthcare systems around the world just how common and important women’s health care issues are. Femtech products and women’s issues are being taken more seriously and are more talked about.
- Femtech is disrupting traditional women’s healthcare - Femtech has enabled companies to expand the range of choice of contraception and improve day to day health by performing clinical studies, innovating and making use of artificial intelligence. Products are now as effective as conventional contraception (the pill) without the side effects.
- More money invested in Femtech - Femtech is the sector that is truly innovating new products where traditional pharmaceutical companies have given up e.g. in contraception. More venture capital money is being invested in these type of companies which means there’s greater scope for women around the world to hear about them
- Women are online savvy - Women love tech and are open to new technologies and innovations like Femtech. They represent 44 - 45 percent of the world's Internet users, they spend more time online, dominate social communications online, use more smartphone data and are responsible for more purchases than their than their male counterparts (Source: Office of National Statistics)
- Raising awareness - New products aim to raise awareness about common day issues such as reproductive health, sexual well-being and fertility. These companies are encouraging women to break the taboo boundaries and speak up about their issues.
- Educational - What better way to learn about the biology behind your body than to have your statistical data behind it visualised and explained in a simple way. With apps, women not only enjoy applying it as an effective contraceptive but get to know how the menstrual cycle works.
- Women are the big online shoppers - There is an entire female market out there that are earning and spending more than ever before. Women have more money to spend on Femtech these days and they represent the majority of online shoppers. In the UK alone women are spending 460m per week and 85 percent of all consumer purchases (Source: Real Business 2016)
Written by Dr Elina Berglund, co-founder and CTO of Natural Cycles (www.naturalcycles.com), the world’s first and only app to be certified as a contraception.