By Shakera Moreland
- The FemTech industry was worth is expected to grow to $65.3B by 2027
- Culturally sensitive and tailored Fem-Tech care solutions for subpopulations are emerging for Black women through services like Health in Her HUE
Solutions tailored for subpopulations are emerging for Black women in the “FemTech” space. Products ranging from menstrual shapewear, fertility products, and healthcare networks have been created with the sole purpose of catering to the unique needs of women. Investors have increasingly supported a growing number of female-led, women’s health startups with the industry worth $22.5 billion in 2020 and expected to grow to $65.3 billion by 2027.
Why This Matters: Black women in particular are placing their stamp on the industry, with groundbreaking FemTech services such as Health in Her Hue, that connects Black women with Black providers in their area. This service and others like it are filling the gap where Black women are often underrepresented and underserved which helps to improve access to culturally sensitive care that is so often overlooked in the Black community.
A McKinsey report defines FemTech as a wide range of solutions to improve healthcare for women across a number of female-specific conditions, including maternal health, menstrual health, pelvic and sexual health, fertility, menopause, and contraception. Since women make 80% of all health care decisions and 70% to 80% of all consumer-buying decisions, as a result, there has been an uptick in technology and products that are catered exclusively to women created by women.
Situational Awareness: At its best, FemTech has the ability to change the way women of all hues are able to get the care they deserve, while also uniquely placing them on the frontlines of entrepreneurship and generational wealth building. No more empty platitudes this time around as we celebrate Women’s Health all year.
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