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Femtech’s next frontier: From buzzword to backbone of women’s health innovation
Julien de Salaberry, CEO and Founder, Galen Growth, reflects on the findings of a new report quantifying the $360b opportunity in women’s health
In the near decade since “Femtech” was coined, digital health ventures targeting women’s health have evolved from niche apps to a dynamic sector addressing core medical needs.
The Galen Growth newly released Femtech 2025 report—powered by Galen Growth’s proprietary HealthTech Alpha™ platform—reveals how Femtech has matured, where critical gaps persist and what it will take for the sector to deliver on its health potential.
Despite a 3.2x growth in the number of ventures and a 15.3x surge in strategic partnerships during the last 10 years, the age-old dilemma remains: while the need is massive and the innovation landscape vibrant, Femtech still lacks structural support, clinical integration and the investment discipline needed to match its return on investment potential with lasting public health impact.
A Decade of Progress—and Ongoing Gaps
The expansion of the Femtech innovation enterprise is unmistakable.
From fewer than 300 companies in 2015, active digital ventures in women’s health have tripled to 942 as of early 2025.
These ventures now span gynecology, oncology, cardiovascular care, menopause, fertility, and more, recognising that women’s health is not one category, but a continuum of needs across the lifespan.
Yet, funding remains a bottleneck.
In 2024, Femtech secured $2.2 billion in venture capital, just a fraction of the $26 billion deployed across digital health globally.
The growth of capital deployed in Femtech has increased only 1.4x during the past decade, versus 2.6x for digital health overall.
While that imbalance is beginning to shift—2024 saw a 32 per cent year-on-year increase in Femtech investment—the current levels are insufficient to support the sector’s scale and maturity.
Beyond Fertility: A Broader Definition of Femtech
Much of Femtech’s early visibility came from practical fertility tracking and pregnancy apps. These tools remain vital, but data show the category has expanded significantly.
Today, gynecology and oncology dominate in volume and funding, but new frontiers like menopause, cardiovascular disease and mental health are gaining traction.
Interestingly, conditions like Alzheimer’s, autoimmune disease, and chronic pain—where women are disproportionately affected—remain underrepresented in investment portfolios.
This represents the persistent clinical oversight and a significant commercial opportunity. “The so-called “ghost market” of women’s health, valued at hundreds of billions, is still underserved”.
To be transformative, Femtech must address the entirety of the women’s health continuum, including those therapeutic areas that are not traditionally branded as female-specific but affect women in distinct ways.
Clinical Rigor Meets Market Expectations
One of the most revealing findings in our Q1v2025 report is the comparative strength of clinical evidence generated by Femtech ventures.
On average, they produce nearly twice the volume of peer-reviewed research, clinical trials, and regulatory filings than other digital health companies.
Julien de Salaberry
Why? Because Femtech ventures face higher scrutiny, not just from regulators but from the market.
While all digital health solutions making medical claims must meet standard evidence requirements, the bar appears to be unofficially higher for women’s health offerings.
This extra burden, if not carefully balanced, may stifle innovation.
Still, the sector’s ability to meet those standards proves its resilience and scientific credibility.
Health Systems, Not Just Consumers
One of the more encouraging trends identified in the Galen Growth Report is the growing shift from direct-to-consumer models to deeper integration with health systems.
In 2024, 42 per cent of all Femtech partnerships involved health systems—a marked increase from just 10 per cent in 2020.
This reflects a critical shift: Femtech is no longer just a convenience play but the importance of integrated new approaches into the standard of clinical care.
That evolution is essential for sustainability.
DTC strategies alone cannot reach underserved populations or secure the reimbursement pathways necessary for scale.
Systemic integration—through payers, providers, and public institutions—is how Femtech will bridge access gaps and embed within real-world care delivery.
Exit Signals and Market Maturity
A healthy innovation ecosystem depends not only on venture creation but also on viable exits.
In 2024, 56 per cent of Femtech M&A activity came from venture-to-venture deals, suggesting that even amid slower funding cycles, startups are finding ways to consolidate and grow.
High-profile examples like Willow’s acquisition of Elvie and Flo Health’s $200 million Series C round underscore the market is maturing.
These are not isolated wins—they represent a cohort of ventures achieving scale, clinical validation, and investor confidenc
Investment Trends: Signs of Momentum
Femtech’s funding trajectory reflects cautious optimism.
After a downturn in 2023, that many in the digital health ecosystem experienced, 2024 saw a strong rebound with six mega-deals (≥$100M), including significant investments from RH Capital, General Catalyst, and The Case for Her.
The U.S. led with $1.3B in funding, while Europe experienced the fastest growth, surging 157 per cent year-on-year.
Asia-Pacific remains an important innovation hub, especially in AI-powered diagnostics, though its funding declined slightly in 2024.
Notably, nearly half of active Femtech ventures remain pre-Series A—indicating a broad base and a need for greater growth-stage support.
Five Forces That Will Shape Femtech
As we look ahead, five structural shifts will determine the future of Femtech:
- Broadening the Scope: Innovation must go beyond fertility to include chronic conditions, menopause, mental health, and autoimmune diseases.
- Breaking the DTC Barrier: Structural partnerships with health systems, employers, and insurers are key to scaling access and equity.
- Balancing Evidence and Agility: While validation is vital, excessive requirements impede innovation. We must strike a balance.
- Funding the Middle: Early-stage ventures need greater access to Series A and B capital to avoid stall-outs and scale successfully.
- Smart Consolidation: M&A will continue to be a growth engine. Ventures with complementary capabilities must seize this moment to build category leaders.
Femtech Is Not a Trend—It’s an Imperative
Women’s health is not an edge case in the health system—it is foundational.
Investing in women’s health is not a niche strategy; it’s a direct investment in societal productivity, equity, and well-being.
The growth and insights shared in Femtech 2025 reflect market awareness of evidence-based innovation, which empowers leaders across the life science, digital health, and investment communities to act decisively.
As the financial and deal trends suggest, innovators and investors should not allow another decade to pass with unmet needs hiding in plain sight.
As this year’s global analysis demonstrates, the next generation of Femtech isn’t about visibility but value, integration and health systems impact.
A new Female Health Hub launched by the English FA will support women and girls in grassroots football in England with trusted advice on health issues affecting play.
The hub brings together expert-backed guidance, practical tools and player insights in one place, giving women and girls practical advice and reassurance on female health in football.
It has four core aims: to help women and girls better understand their bodies and how female health affects performance and participation, to educate players on key health topics and when to seek further advice or support, to provide practical strategies to help navigate common female health challenges, and to help break down taboos and normalise conversations around female health in football.
Users of the hub will also be able to hear directly from members of the England women’s national team, who share their own experiences of navigating female health matters while playing at the highest level of the game.
“Our ambition is to create a game where women and girls can thrive,” said Sue Day, the FA’s director of women’s football.
“To achieve that, it’s essential that players feel supported in environments that understand and respond to their female health needs.
“We’ve heard directly from grassroots players that they want better information and support around female health, but that they often don’t know where to find it.
“The launch of the Female Health Hub marks an important step in changing the landscape.
“We want every player to feel confident in her own skin and supported without judgment, so she can feel empowered by her body, rather than held back by it.”
The platform was launched following research conducted by the FA that highlighted the need for better education and support around female health in football.
According to the FA, 88 per cent of adult players surveyed said their menstrual cycle has an impact on their ability to train or play, but 86 per cent reported they had never received education about the menstrual cycle in relation to football performance and training.
The research also found 64 per cent of women experience issues related to sports bras or breast health while playing football, despite sports bras being considered one of the most important pieces of playing kit.
Players also expressed strong interest in learning more about injury prevention, at 87 per cent, nutrition, at 84 per cent, and mental health, at 77 per cent, in relation to female health.
The first phase of the Female Health Hub focuses on three of the most requested topics: menstrual health, breast health and injury resilience, with further content to follow, including nutrition and pelvic health guidance.
The Royal College of Midwives (RCM) has referred to the women’s health strategy as a ‘missed opportunity’ to address maternity services.
The renewed strategy was released by the government this week, with the aim of putting women’s experiences at the centre of care and ensuring they are “better heard and served”.
However, the government stated that because of ongoing investigations into maternity services across the country, the strategy “does not seek to address safety in maternity and neonatal services”.
The RCM described this as a “missed opportunity” and urged the government to ensure that, following the inquiries, maternity is placed “at the very heart” of the strategy.
Gill Walton, RCM chief executive, said the college was “deeply disappointed” that maternity services “do not feature as a headline priority” in the renewed strategy.
She said: “This is a significant missed opportunity and one that is very difficult to understand.
“Pregnancy, birth and the postnatal period are not a footnote in women’s health – they are one of the most significant and consequential phases of a woman’s life.
“A strategy that treats maternity as an afterthought is not truly a women’s health strategy at all. It is exactly the kind of thinking that has allowed maternity services to reach the point they are at today.”
Walton acknowledged that the strategy contained commitments on ensuring women’s voices shape their care, on supporting families through pregnancy loss and on the principle that services should be held accountable when they fail to listen to women.
She added: “But a strategy that addresses one part of women’s health while leaving maternity care behind is only doing half the job.”
Walton urged the government to ensure that this is addressed when the ongoing investigations into maternity care conclude, with any recommendations placed “at the very heart of this strategy with the seriousness and urgency that women, families and midwives deserve”.
In the foreword to the renewed plans, health and social care secretary Wes Streeting referred to the ongoing independent National Maternity and Neonatal Investigation as action being taken by the government to improve safety in maternity services.
The strategy also refers to the new National Maternity and Neonatal Taskforce, chaired by Streeting, which aims to help deliver “safer, more equitable care” for women, babies and families.
The foreword said that, because of ongoing initiatives, it was “important that this work continues without restriction and that the government can properly respond to the findings”.
It added: “This renewed women’s health strategy therefore does not seek to address safety in maternity and neonatal services other than that related to women’s health before and during pregnancy and the actions we are taking immediately to improve maternity and neonatal care.”
The strategy does, however, include plans to prioritise health education in schools, communities and healthcare settings to “empower women” with the “knowledge and tools they need to help control their fertility” and “prepare for the best pregnancy outcomes.
It also promises to provide women with access to “safe and high-quality contraception, abortion care, fertility services, preconception care and support after pregnancy loss in convenient settings.
Article produced in association with London Pregnancy Clinic and Jeen Health
For the majority of couples planning a pregnancy, genetic testing is not something they think about until a problem arises.
Pre-conception genetic carrier screening challenges this approach by identifying risk before pregnancy begins.
As panel sizes have grown and at-home testing options have become widely available, carrier screening is transitioning from a niche clinical referral into a mainstream component of reproductive planning.
What Carrier Screening Tests For
Being a carrier of a genetic condition means carrying one copy of a variant in a gene associated with that condition, without being affected by it.
In most cases, carriers are entirely unaware of their status.
The clinical significance of carrier status emerges when both members of a couple carry a variant in the same gene: in this scenario, each pregnancy carries a one in four chance of resulting in a child who inherits two copies of the variant and is affected by the condition.
The conditions most frequently included in expanded carrier screening panels include cystic fibrosis, spinal muscular atrophy (SMA), fragile X syndrome, sickle cell disease, and a range of metabolic and enzyme deficiency disorders.
The Beacon 787 carrier test, offered by Jeen Health, screens for 787 conditions from a single sample, making it one of the most comprehensive panels currently available to UK families.
Who Is Most Likely to Benefit
Any couple planning a pregnancy can consider carrier screening. It is particularly relevant for:
- Couples with a family history of a known inherited condition
- Those from populations with higher carrier frequencies for specific conditions, including Ashkenazi Jewish, South Asian and African communities
- Couples pursuing fertility treatment, where genetic information informs treatment planning
- Those who wish to have the most complete picture of their reproductive health before conception
Importantly, being a carrier of a condition does not mean a child will be affected. It means there is a defined statistical risk that can be quantified, discussed and planned for with appropriate clinical support.
How the Test Is Performed
Carrier screening is typically carried out on a blood or saliva sample.
For at-home options such as the testing offered by Jeen Health, a cheek swab collection kit is dispatched to the patient, the sample is returned by post, and results are delivered digitally within a defined turnaround period.
In-clinic carrier testing may use a blood draw and provides the advantage of immediate access to a clinical consultation at the point of result delivery.
London Pregnancy Clinic offers genetics counselling through its partnership with Jeen Health, allowing couples to receive and contextualise carrier test results with expert support.
Genetic counselling before and after testing is recommended by Genomics England as a standard component of any genomic testing pathway.
What Happens If Both Partners Are Carriers
If both partners are identified as carriers for the same autosomal recessive condition, they are typically offered further counselling to discuss their options.
These may include proceeding naturally with an awareness of the risk, using prenatal diagnosis (CVS or amniocentesis) during pregnancy to test the fetus, or pursuing preimplantation genetic testing (PGT) in the context of IVF, which allows unaffected embryos to be selected before transfer.
The purpose of identifying carrier status before pregnancy is to give couples time to consider these options without the added pressure of an ongoing pregnancy.
Knowledge of carrier status does not remove reproductive choices; it expands the information available when making them.
The Role of Pre-Conception Services
Carrier screening sits within a broader category of pre-conception care that includes fertility assessments, general health optimisation and, where relevant, management of existing conditions before pregnancy begins.
London Pregnancy Clinic offers pre-conception services encompassing fertility investigations, genetics counselling and carrier testing as part of an integrated 0th trimester approach, allowing couples to address genetic and clinical risk factors before their pregnancy starts rather than after.
Disclaimer: This article is produced for informational purposes only and does not constitute medical advice, diagnosis or treatment.
Clinical guidance referenced reflects published NHS, NICE and RCOG standards as at March 2026. Individual circumstances vary; readers are advised to consult a qualified healthcare professional before acting on any information in this article.
This piece was produced in association with London Pregnancy Clinic and Jeen Health, which provided background clinical information for editorial purposes.
Hyperlinks to external sources are included for reference only and do not represent an endorsement of any product, service or organisation.
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