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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.
AI may help speed breast cancer diagnosis for high-risk women after abnormal mammograms, a study suggests.
Women with abnormal mammograms often wait weeks to learn whether they have breast cancer.
Researchers at UC San Francisco and UC Berkeley said an AI-guided workflow could help reduce that wait by quickly identifying those most likely to have the disease. Some women could move from imaging to evaluation, and sometimes biopsy, in a single day.
Dr Maggie Chung, first author of the study, said: “This is a really an exciting time.
“This moves us closer to personalised care, where we can tailor a plan so that each patient gets the right intervention at the right time.”
The study used an open-source AI model called Mirai.
The model was trained on hundreds of thousands of mammograms linked to patients’ cancer outcomes.
A mammogram is an X-ray scan of the breast used to look for signs of cancer. A biopsy involves taking a small tissue sample to test for disease.
The AI tool is designed to detect subtle patterns in screening mammograms and predict a woman’s cancer risk.
Researchers at UC San Francisco and UC Berkeley applied the model to more than 4,100 screening mammograms at Zuckerberg San Francisco General Hospital and Trauma Center.
Mirai identified 525 women, about 12.7 per cent of screened patients, as high risk.
Those patients could receive an interpretation of their mammograms immediately after the scan and have additional diagnostic imaging for suspicious areas on the same day.
Some women who needed biopsies were also able to have them on the same day.
The researchers said Mirai reduced the wait time for diagnostic evaluation from several weeks to about an hour.
For women who were ultimately diagnosed with breast cancer, it reduced the average wait for biopsy from more than two months to fewer than 10 days.
The researchers stressed that Mirai does not replace radiologists or make diagnoses on its own.
Instead, it acts as a triage tool to help physicians identify the patients who can benefit most from accelerated care.
The team analysed more than 114,000 archival mammograms before launching the programme, to ensure the model would capture enough high-risk patients without overloading the clinic with too many expedited evaluations.
The researchers said they hope AI will support a more personalised approach to breast cancer screening tailored to each patient’s breast cancer risk.
Chung said: “Right now, many women follow the same screening schedule but their individual risk can be very different.
“AI risk assessment gives us the chance to identify the women most likely to benefit from expedited care and get them what they need.”
Adam Yala, senior author of the study and a data scientist at UC Berkeley, said: “This is a powerful example of how AI can be a collaborative partner for physicians.
“It shows how we can improve care when we bring clinicians and data scientists together to design these systems.”
Women with primary infertility may face a higher risk of early menopause and reach it about a year earlier, a study suggests.
The findings suggest women with primary infertility may be more likely to enter menopause before the age of 45.
The increased risk appeared most notable among women with unexplained infertility or a history of endometriosis.
Dr Stephanie Faubion, medical director for The Menopause Society, said: “This study shows that women with primary infertility, specifically those with unexplained infertility or a history of endometriosis, were at risk for early menopause.
“Given that early menopause is linked to adverse long-term health consequences, these women may benefit from counselling that they are at risk of early menopause.
“This will allow them to monitor for early menopause and to seek treatment with hormone therapy, if indicated.”
Early menopause is usually defined as menopause before age 45, while premature menopause is menopause before age 40.
Women who experience menopause earlier may face symptoms for longer and have a higher risk of long-term health problems.
These can include cardiovascular disease, osteoporosis and neurocognitive disorders. Osteoporosis weakens bones, while neurocognitive disorders affect memory, thinking or brain function.
The study, highlighted by The Menopause Society, involved nearly 700 people, roughly half of whom had been diagnosed with primary infertility.
It found that women with a history of primary infertility underwent natural menopause about one year earlier than those without such a history.
Researchers found no association between infertility and premature menopause.
Infertility affects around one in six people globally and can have consequences beyond family planning.
Previous research has linked infertility with higher rates of cancer and cardiovascular disease, although causes vary and may involve genetic, hormonal, in-utero or lifestyle factors.
In-utero factors are influences that occur while a baby is developing in the womb.
Earlier studies looking at links between infertility and early or premature menopause have produced mixed results, with some not accounting for different types of infertility.
The new study suggested that women with unexplained infertility or a history of endometriosis may have an increased risk of early menopause.
Endometriosis is a condition where tissue similar to the lining of the womb grows elsewhere in the body. It can cause pain, heavy periods and fertility problems.
Known risk factors for early or premature menopause include tobacco use, low body mass index, not having given birth and starting periods at a younger age.
Women who have had more childbirths and those with a history of oral contraceptive use have previously been linked to later menopause.
The researchers said women with primary infertility may benefit from additional counselling because of the systemic and long-term health effects of early menopause.
They also said women should be encouraged to seek evaluation and treatment if they experience a new loss of menstrual cycles.
A non-profit has launched an endometriosis documentary featuring Amy Schumer and Marilyn Monroe as it pushes for changes in how the condition is treated and understood.
The Endometriosis Collective has launched to change how endometriosis is researched, treated and understood, starting with a documentary featuring stories from people including Amy Schumer and Marilyn Monroe.
The feature-length documentary, “End of the Cycle”, will premiere in New York on Tuesday, and The Endometriosis Collective is making the film free to stream online.
Schumer, a comedian, writer and actor, has previously spoken of how endometriosis left her “on the floor in pain, vomiting from the pain, the pain that nobody can see.”
Schumer is one of several celebrities featured in the documentary. Other contributors include dancer Julianne Hough, Olympic medallist Brittany Brown and actors Janel Parrish and Folake Olowofoyeku.
The Endometriosis Collective timed the documentary premiere to coincide with the 100th anniversary of Marilyn Monroe’s birth.
Monroe, who died in 1962, starred in films such as “Some Like It Hot” and “Gentlemen Prefer Blondes.”
According to a biography published in 1985, Monroe’s endometriosis was so severe that it destroyed her marriages, her wish for children, her career and ultimately her life.
The Endometriosis Collective said the documentary shares newly uncovered information about Monroe’s experience with endometriosis.
The non-profit said the information connects Monroe’s story to the experiences of women across generations, highlighting how far awareness, research and care still have to go.
A representative of the Marilyn Monroe Estate said: “By sharing this part of her story through ‘End of the Cycle,’ we hope to honour her legacy in a way that brings visibility to endometriosis, encourages more open dialogue and helps inspire the research needed to create change.”
As part of the premiere, The Endometriosis Collective is holding a panel discussion.
Schumer, Brown and Olowofoyeku, the documentary’s co-directors Sammy Jaye and Soraya Simi, and medical experts are due to be part of the premiere.
AbbVie’s Orilissa and Sumitomo Pharma’s Myfembree are among the approved drugs for endometriosis pain.
Hough, one of the participants in the documentary, starred in an Orilissa campaign in 2017.
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