INSIGHT. Women’s health issues have traditionally been underfunded and under-researched but in recent years there has been a growing recognition of the importance of women’s health and the potential for market growth.
The White House and the First Lady of the United States, Dr. Jill Biden, recently announced an allocation of USD 100 million in federal funding aimed at the early stages of research and development in women’s health. In 2023, Forte (the Research Council for Health, Working Life and Welfare) and the Swedish Research Council were commissioned by the Swedish government to map and analyse research needs in the area of women’s health, which indicates that additional research funding could also be forthcoming in Sweden.
Femtech, a term encompassing technological innovations designed to improve women’s health, is considered one of the most promising niche markets in medical technology. The global femtech market is expected to grow from USD 6.7 billion in 2023 to approximately USD 20.6 billion by 2030. This not only highlights the economic potential but also underscores the critical need for continued investment and innovation in the field.
By addressing unique health challenges that only affect women, femtech can revolutionise the medical field through more personalised and effective healthcare solutions. At Sciety, we will continue to watch this field with great interest.
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