By Dana Jacoby

Women’s health has been sidelined for many years now, with 93% of the most underfunded health conditions predominantly affecting women. It is perhaps no surprise then, that the demand for businesses that plug this gap is huge. The global Femtech market size was valued at USD 8883.84 million this year, after several stellar years of performance and growth.

In 2024, many Femtech companies are making waves, each addressing crucial aspects of women’s health including fertility, menstrual cycle tracking, and breastfeeding. Here are our top five to look out for this year.

1. Carrot Fertility – A comprehensive approach to fertility benefits

Carrot Fertility is redefining workplace benefits by offering the ability to integrate fertility and family-forming care into employee healthcare. Unlike traditional benefits that include physical and increasingly mental health care, Carrot extends its reach even further to address fertility, an often overlooked yet vital aspect of personal healthcare and wellbeing.

They offer a range of services, from egg freezing and IVF, to adoption and surrogacy support, making these services more accessible and affordable for employees.

Carrot’s innovative benefits programs enhance employee satisfaction and loyalty, while also positioning employers as forward-thinking and inclusive. As women and men increasingly wait later to try for children, fertility benefits will become all the more more important to the workforce.

2. Elvie – Smart technology designed by women, for women

Elvie specializes in developing smart technology products specifically tailored to support women’s health. Its rise to success has been rapid — last year, Elvie secured an eight-figure funding package to continue growth in its existing product categories and support new product development and market expansion.

Their top products include the Elvie Trainer, a small device designed for pelvic floor strengthening, which comes with an app that offers guided exercises, and the Elvie Pump, an ultra-quiet wearable breast pump that prioritizes discretion and efficiency, and also comes with an app for bespoke pumping insights, discreet in-bra control and customizable timing.

Elvie focuses on creating practical, user-friendly devices that easily integrate into women’s daily routines, aiming to enhance their health and well-being.

3. Clue – Period and reproductive health tracking

Clue’s app goes a step beyond traditional period tracking by offering in-depth analysis of a woman’s menstrual health. The platform uses data input by users to identify patterns in menstrual cycles, and flag any areas of concern, helping people who have periods to understand their bodies better.

This empowers them to make informed decisions about their health, whether it’s managing their menstrual cycle around key events, planning for pregnancy, or understanding menopausal changes.

Clue states a clear commitment to using science-backed information and collaboration with top health experts, and is dedicated to providing accuracy and reliability. This user-focused approach, combined with a commitment to privacy and data security, makes Clue one of the best period tracking apps in the Femtech industry.

4. Maven Clinic – Employer funded accessible women’s healthcare

Virtual healthcare platform, Maven Clinic, is specifically designed to cater to women and families. It offers employers the ability to sign up to a large suite of services that can then be provided to employees, covering various stages of women’s health and family needs.

The services include support and medical care around fertility, pregnancy, adoption, parenting, pediatrics, and menopause, and are all accessible online, often in a matter of minutes. Maven Clinic’s services also extend beyond medical care, including support for emotional wellbeing and career-related guidance for parents.

The platform allows companies to extend a wide-ranging and specialized healthcare support system to their employees, making essential health services more accessible and convenient.

5. Ava – Wearable fertility tracking technology

Ava stands out in the reproductive health space due to its flagship product, the Ava bracelet. This FDA-registered wearable device is designed to predict a woman’s most fertile five-day window. It works by monitoring a variety of physiological parameters including night-time skin temperature, resting pulse rate, heart rate variability ratio, skin perfusion, breathing rate, movement, and sleep.

The device is used exclusively at night, making it a convenient and non-intrusive method for women to track their fertility. Users simply wear the bracelet during sleep and sync it with the Ava mobile app in the morning. The app collects data from the bracelet, and allows women to input additional details like mood and physical symptoms.

Ava can also be used as a pregnancy support tool, allowing pregnant women to track their health data and providing weekly updates on fetal development. Users can log various metrics such as weight, activity level, prenatal measurements, medical diagnoses, and hydration status, that support the monitoring of both maternal and fetal health.

Ava’s approach to fertility and pregnancy tracking offers women a deeper understanding and control over their reproductive health.

The future of Femtech

As Femtech continues to surge in innovation and market presence, these top five companies exemplify the industry’s growth and potential. Their solutions are laying the foundation for a future where Femtech leads in delivering specialized, inclusive, and accessible women’s health services.

For more insights into healthcare trends, opportunities, and research, visit Vector Medical Group Insights.