Women’s health has frequently been overlooked and underserved because it is seen as merely a subset of healthcare. Studies inform that modern medicine was developed with male physiology in mind and as a result, women have been underrepresented in clinical trials too. Social and cultural taboos that limit and hinder conversations on sexual and reproductive health have also acted as barriers to women’s health.
However, in the recent past, we have been witnessing a gradual shift, leading to the creation of an ecosystem which is more conducive to women and geared towards their better health outcomes. New products with better ways to take them are being made and made available just for women’s bodies. “The market for female health products has received a wave of publicity recently,” says Reenita Das, Partner, Senior VP, Healthcare and Life Sciences, Frost & Sullivan. The “Sheconomy” and the significance of women as consumers and businesses are gaining traction in the larger market. Today, women’s health is at the forefront because of this wave of social trends. Expressing similar views in an earlier article covered in Express Pharma, titled, ‘Is Women’s Health Gaining Momentum, Suchi Ray, Partner, Deloitte says, “In today’s times, pharma companies in the women’s healthcare space are expanding their R&D base and increasing the efforts to expand beyond reproductive health into key women’s health areas.”
These viewpoints appear to be supported by the industry. Yash Singh, Founder & CEO of Frimline, a company which recently launched a toothpaste specially designed to address oral issues of women, explains, “Addressing the unique healthcare needs of women has been gaining traction. Additionally, the industry is now more aware of the trend. Changes in the air This section is making progress thanks to strong tailwinds. According to a Fortune Business Insights report, the India women’s health therapeutics market is expected to grow at a CAGR of 15.2% during the forecast period, going from $2.22 billion in 2022 to $5.98 billion in 2029. While there are a number of factors that have contributed to this segment’s evolution, the following are some of the primary drivers of this transformation: Increasing women’s health awareness: A shift in perspective brought about by education is enabling women to break taboos about their health and seek diagnosis and treatment when they need it. Women are now learning to put their health first and are driving demand for better-suited healthcare products and services. According to Singh, “Indian women’s growing awareness of health and well-being has resulted in a rise in the demand for products that can help address their health issues.” Even in the daily lives of women, there is significant opportunity to introduce self-care products that positively impact their well-being. For instance, we recently introduced Dente91 She, the first toothpaste specifically made for women’s oral health in India. It is not widely understood how women’s oral health is affected by the various hormonal changes they experience. The development of the product was sparked by this. Advances in research and development: “A suite of scientific advances can now be harnessed in women’s health,” states a McKinsey report titled “Unlocking Opportunities in Women’s Healthcare.” Recent advances in genomics, tissue engineering, and cell and gene therapy are ushering in a new wave of healthcare innovations that can be applied to underserved female-specific conditions. To treat otherwise elusive conditions like preeclampsia and preterm birth, researchers are studying transcriptomics, or the study of all RNA molecules in a cell. In an effort to expand our understanding of endometriosis, others are currently creating uterine organoids through the use of tissue engineering. Endometriosis, preeclampsia, and unexplained infertility are just a few of the conditions that have the potential to be redefined and to see advancements comparable to those seen in oncology and immunology. Investors, researchers, and companies alike have an opportunity to participate in this rising wave of innovation and to deliver a new era in women’s health.”
◆ Rise in FemTech: FemTech, a word to describe tech-enabled solutions addressing women’s health, has a gained a lot of prominence in the recent times. A report from McKinsey called, ‘The dawn of FemTech revolution, reveals, “FemTech’s current market size range from $500 million to $1 billion. Opportunities for revenue growth in the double digits are suggested by forecasts. FemTech businesses currently receive three percent of the total funding for digital health. Our investigation of hundreds of FemTech businesses revealed a focus on patient support for maternal health, consumer menstrual products, gynecological devices, and fertility solutions. By the beginning of December 2021, funding had reached $2.5 billion. Express Pharma’s article on ‘Is Women’s Health Gaining Momentum’, also quotes Arvind Sharma, Partner, Shardul Amarchand Mangaldas and Co, who says, “With 50 per cent of the population as target customers, and with the women’s healthcare market expected to reach $50 billion by 2025, FemTech is the key focus area in the women’s health market, and this is the right time for pharma companies to increase presence in this sector. Mobile applications and connected devices will offer women crucial and timely solutions in this tech-dominated environment. New business models such as telemedicine and remote monitoring platforms will emerge and are expected to play a key role in the women’s health segment. India’s women’s healthcare sector has a lot of potential, which will draw top international investors.