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From: McKinsey Intersection
Date: Thu, Mar 24, 2022 at 1:16 AM
Subject: A female-first market with huge potential
To:
Plus: The mismatch between health investments and women’s health
needs
.
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DELIVERING ON DIVERSITY, GENDER EQUALITY, AND INCLUSION
In this issue, we look at FemTech—the definition and the latest
developments—as well as the mismatch between health investments and women’s
health needs.
THE FACTS
The market is there
https://email.mckinsey.com/industries/healthcare-systems-and-services/our-insights/the-dawn-of-the-femtech-revolution?__hScId__=v70000017fba5a6304a4562a6e96639818&__hRlId__=85ac4522c6324edf0000021ef3a0bcd1&__hDId__=85ac4522-c632-4edf-98b3-9c32d523b986&__hSD__=d3d3Lm1ja2luc2V5LmNvbQ==&cid=other-eml-dni-mip-mck&hlkid=18f3153610254d7fb22d4ba9e88b2fef&hctky=13291189&hdpid=85ac4522-c632-4edf-98b3-9c32d523b986
[image: Exhibit of global FemTech funding]
https://email.mckinsey.com/industries/healthcare-systems-and-services/our-insights/the-dawn-of-the-femtech-revolution?__hScId__=v70000017fba5a6304a4562a6e96639818&__hRlId__=85ac4522c6324edf0000021ef3a0bcd2&__hDId__=85ac4522-c632-4edf-98b3-9c32d523b986&__hSD__=d3d3Lm1ja2luc2V5LmNvbQ==&cid=other-eml-dni-mip-mck&hlkid=9ae02c96b1bc4ba2ad9da04784bec1ff&hctky=13291189&hdpid=85ac4522-c632-4edf-98b3-9c32d523b986
*More than $2.5 billion—*that’s how much funding the world’s FemTech
companies received last year (including all forms of capital raising). What
do we mean by “FemTech”? Coined in 2016 by Danish entrepreneur Ida Tin
https://email.mckinsey.com/T/v70000017fba5a6304a4562a6e96639818/85ac4522c6324edf0000021ef3a0bcd3/85ac4522-c632-4edf-98b3-9c32d523b986?__dU__=v0G4RBKTXg2GsTlMa8YbE0npiPHb7Gzq29ujr-mrJsl6bcn0E30HNSquNCCrd1XNAz&__F__=v0fUYvjHMDjRPMSh3tviDHXIoXcPxvDgUUCCPvXMWoX_30tcPSLyBQEbsh3eygP4guTm8niE3jFMIWKTlGsA3iSW4qzVuBS_ZnuC83v7kK3dKDZgObqEm4Y227Wxw2Oj3nK62egPLDnLLEQruT9uVUS9JSi-TU-pnspmk7JDTpUKnnA4huSfLpPz408wrnxQwZBHnHFLFxletguRLLEf3B1T8UO9_Dvz2MYxHuQbE1uOgwlcqAa4W2dS4seBiwrEl0Yx-Zn2bPpDzTMQ0A4S2FNRg2fdMwbkFP-XOzyHkSnH4EzXIMHaN3vCR9ZqXMvvB_KMcwSGE-trAbbZaI0I0QTQciMX963yMRV4xhUgVgfb9StE-PSbbapXOeaMRioRSuLgUuS1lmE6Oi5yyJwyaxAhKBzth8rdDyLLh2mo6cefqUQubC0L7_ypIG8AuK1GeyqIg5x9WGA_OIcVE6mApHws5m89PVY3AYhRpm2jElf0t4ExT7Xm-f7Q==,
the term has grown to encompass a range of tech-enabled, consumer-centric
products and solutions. These span menstrual health, pelvic and sexual
health, contraception, fertility, maternal health, and menopause, as well
as a number of health conditions that affect women disproportionately or
differently, such as osteoporosis or cardiovascular disease.
FemTech funding is surging, but this is just the beginning. McKinsey
analysis shows that there are plenty of white spaces in the start-up
landscape
https://email.mckinsey.com/industries/healthcare-systems-and-services/our-insights/the-dawn-of-the-femtech-revolution?__hScId__=v70000017fba5a6304a4562a6e96639818&__hRlId__=85ac4522c6324edf0000021ef3a0bcd4&__hDId__=85ac4522-c632-4edf-98b3-9c32d523b986&__hSD__=d3d3Lm1ja2luc2V5LmNvbQ==&cid=other-eml-dni-mip-mck&hlkid=b15df4a14a7049f3b4eb0f58eab36901&hctky=13291189&hdpid=85ac4522-c632-4edf-98b3-9c32d523b986,
particularly in areas beyond fertility and maternal health. Some companies
have already branched out: Maven Clinic, for example, started in maternity
care and then expanded across the reproductive life cycle. The company was
recently valued at more than $1 billion.
“Is there really still an unmet need in this area?” Although that attitude
may be surprising, that’s the kind of question that some FemTech
entrepreneurs continue to face, explains McKinsey senior partner Dr. Lucy
Pérez.
McKinsey research shows that the market is there—and some investors are
taking notice.
THE TAKEAWAY
[image: Photo of a person working in a lab]
https://email.mckinsey.com/industries/healthcare-systems-and-services/our-insights/unlocking-opportunities-in-womens-healthcare?__hScId__=v70000017fba5a6304a4562a6e96639818&__hRlId__=85ac4522c6324edf0000021ef3a0bcd5&__hDId__=85ac4522-c632-4edf-98b3-9c32d523b986&__hSD__=d3d3Lm1ja2luc2V5LmNvbQ==&cid=other-eml-dni-mip-mck&hlkid=107625034b364402a10145ef22fcbf29&hctky=13291189&hdpid=85ac4522-c632-4edf-98b3-9c32d523b986
*Less than 2 percent—*that’s the share of the global healthcare pipeline
that’s focused on conditions beyond oncology that are largely specific to
women. Remarkably, women’s health has been considered a niche market and a
mere subset of healthcare—but that’s finally beginning to change.
That means more research on conditions such as endometriosis
https://email.mckinsey.com/T/v70000017fba5a6304a4562a6e96639818/85ac4522c6324edf0000021ef3a0bcd6/85ac4522-c632-4edf-98b3-9c32d523b986?__dU__=v0G4RBKTXg2GsTlMa8YbE0npiPHb7Gzq29ujr-mrJsl6bcn0E30HNSquNCCrd1XNAz&__F__=v0fUYvjHMDjRPMSh3tviDHXIoXcPxvDgUUCCPvXMWoX_0JoZLAZABQF6Nr9gwgV3fJnAxCf8vh6PlQUvkL8v7LZ38TcVl1YaM6PNGO8040NOr0zAfIILJJkdgK3bl1H0GaU7tPxShYHGL2OviS_jBKqrSEWejcKq6kHvQBZg1oZwFdJTh0zTarcVFzT38OD6IKcCFFywzWrRdF1pdRXu1r-MKbJdKUIgZlN1CtV9YEhLTM3hlU3WyCvyPpA3PFVh6GozKAN66Cv0DCiqf5eZPPi9ZaM5yMRil3GqicDkcKpCE9D8Og-JdGOQnRuuL6KA1Z2G2d6lELsRUL3Xs8KFmv_ddwHwQ6mGxXieJ0eubTEyswcY3PrrJva-8X1HrfEi8KfVKhxvJw-H58FOIMYZHF2vL6dcRGdoWNc9wPZjS6b9H70erQ_VRzchqQsz5aNPr7bz-gjOS1KghTlFDFqvkfduSsXfwnb-q6MAmQKQ1aa3VPQl_3Ub9ETpnZySSzTFZZv2AfFsaqKSo=,
which affects one in ten women and girls of reproductive age—and can often
take a decade to be diagnosed. It means that more providers may
recognize possible
signs that a woman is having a heart attack
https://email.mckinsey.com/T/v70000017fba5a6304a4562a6e96639818/85ac4522c6324edf0000021ef3a0bcd7/85ac4522-c632-4edf-98b3-9c32d523b986?__dU__=v0G4RBKTXg2GsTlMa8YbE0npiPHb7Gzq29ujr-mrJsl6bcn0E30HNSquNCCrd1XNAz&__F__=v0fUYvjHMDjRPMSh3tviDHXIoXcPxvDgUUCCPvXMWoX_1LXtWJT1JvFyFsOoAga-J_nUjHzA5ZpCn3nVEz35VHmXNlikN5mNL2bMxEFMz14NHApznTv06kdYeP3PK0LPcYi8iYAeOO968SUJ_KOO5Hyewz0EPDsEtVfyKj71jEswK1Mj0ubfrD5K68mnO8WjEymDy9uY76z2rpf5RGc8Us5pRyJ9m6e3H9IzQ0bXn1v_xALdMgD0xBQfn1GCRqYLSZ6UMv2yJqqqcuWfcrtlQ8JR8g_K_QPsI6Ag5oJIOhdvs7YgcVWL3Co-UCJqHbXXlqAVm-G-gxQ89XhIjoSzx9xLlbMluymlzHxMI0Br0JjRMemuIyDB1KzkuIvMYMR5vDk6p8mxfA7YPCQx21k6vt7rvZdsE9N5tV7c5cFXG4-ZlROoFDBhrUUZr6O3emVySIJNr6iQxtqA3zejGNWRSw9R7FWg_afvbzZb26tc-5uk934jPc9br9Q9dbKj58yd-T9102U3aZLILvjPi-vmvc3kqLZfToD7a7RadAeXRimMs=—such
as nausea, shortness of breath, and general discomfort. And it means that
more women will have their pain taken seriously
https://email.mckinsey.com/T/v70000017fba5a6304a4562a6e96639818/85ac4522c6324edf0000021ef3a0bcd8/85ac4522-c632-4edf-98b3-9c32d523b986?__dU__=v0G4RBKTXg2GsTlMa8YbE0npiPHb7Gzq29ujr-mrJsl6bcn0E30HNSquNCCrd1XNAz&__F__=v0fUYvjHMDjRPMSh3tviDHXIoXcPxvDgUUCCPvXMWoX_0JoZLAZABQF7wXGB2i2hJCp5RWi4lFENaFYuBVzaaseIYNF2R0jcYAikQia3FVJA4p5XXrRaKTCS9M0kh-z62eZhppIzKBXu18PyYXUOtps668mnO8WjEymDy9uY76z2rpf5RGc8Us5pRyJ9m6e3H9IzQ0bXn1v_xALdMgD0xBQfn1GCRqYLSZ6UMv2yJqqqcuWfcrtlQ8JR8g_K_QPsI6Ag5oJIOhdvvgb2O7g8ry9H3GqIv8R-lUrhzoakDAYXiKfbxDwkQbBblbMluymlzHxMI0Br0JjRMemuIyDB1KzkuIvMYMR5vDk6p8mxfA7YPCQx21k6vt7rvZdsE9N5tV7c5cFXG4-ZlROoFDBhrUUZr6O3emVySIJNr6iQxtqA3zejGNWRSw9R7FWg_afvbzZb26tc-5uk9BhOzM7kwTgTuujktO4w8TzHZnJOJMZ1kdEPvkwk5Gf2p7bRLghBDrRadAeXRimMs=
and receive appropriate treatment for it.
Here’s more from McKinsey on how modern medicine was developed with male
physiology as the default
https://email.mckinsey.com/industries/healthcare-systems-and-services/our-insights/unlocking-opportunities-in-womens-healthcare?__hScId__=v70000017fba5a6304a4562a6e96639818&__hRlId__=85ac4522c6324edf0000021ef3a0bcd9&__hDId__=85ac4522-c632-4edf-98b3-9c32d523b986&__hSD__=d3d3Lm1ja2luc2V5LmNvbQ==&cid=other-eml-dni-mip-mck&hlkid=154aacebf69f47859d593a9800a322aa&hctky=13291189&hdpid=85ac4522-c632-4edf-98b3-9c32d523b986,
the consequences of women’s historical exclusion from medical trials, and
the opportunities to better meet women’s healthcare needs.
Essential to keep in mind: the conditions discussed in this piece don’t
affect cis women alone; transgender and nonbinary people may also share
some of these healthcare needs
https://email.mckinsey.com/T/v70000017fba5a6304a4562a6e96639818/85ac4522c6324edf0000021ef3a0bcda/85ac4522-c632-4edf-98b3-9c32d523b986?__dU__=v0G4RBKTXg2GsTlMa8YbE0npiPHb7Gzq29ujr-mrJsl6bcn0E30HNSquNCCrd1XNAz&__F__=v0fUYvjHMDjRPMSh3tviDHXIoXcPxvDgUUCCPvXMWoX_0JoZLAZABQF5XkvvjOSOpACbz2-RcQQfn3qU1yBKYjgYrpSddnPnxfJAAYTkYR_EjmhmkbAmCxQYYl61_rBzz9DY1GvkLYObwmL9jnNC1RTetOuAa0cS9WkUNpLd5osSIpSrYLIAW88E7AGPcn7d9F1AcbI7Y3v0eb_X3H-8JiIUlR7pJcoe1LwJkzMLbIeG3C7YTxHTxp9oxeqlZRVYlZ7Ym7hM3aeWD1kG4Lr_zkKk3xrtLKs_jS5KpxNnsJNocMhg5MXkX3fyUuPOqHOXV_IPHmmFTCfUlFc0nLG9L46OZrUNPj5Lkw05bk6rRGQkiOq6BAFvsyrTS3KHgsq6mitOq8kvRGzj0b8KgXhW588XfE5nULFV5PGWMFNvFWKVyCg2rwbQnTrbyc9WCF3_51jeWN4Y7oWcsXN9UnDLDkguKUKgFROBpaOSEJRMY51o-L4NkhrBWRvpC99UMVq7IaHXoF1O_evUSiuIm2YDGinPgX-f5R062LGjIiZPhLfb8=
.
— Edited by Julia Arnous, an editor in McKinsey’s Boston office
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