By providing digital healthcare access, India’s Femtech companies enable women to access advanced, standardized, and affordable healthcare, regardless of their location, community, or other factors. Healthcare products, services, and solutions have neglected women’s bodies and hormone health for decades.
“While India currently sees 61% of its population using the internet, it still leaves 39% of our large 1.4 billion population out of the equation.”
A big part of health equity translates to gender equity in health. It’s not that there aren’t healthcare companies focused on women, but for years, the story would end with companies setting up women’s health portfolios.
In many cases, access, affordability, and societal taboos around openly discussing women-specific topics like menstruation, hygiene, and hormonal health were not addressed. In India, women still struggle to access healthcare resources. It has been a challenge to ensure the availability of skilled resources across the vast regional spread of the healthcare industry.
In addition, the pandemic revealed some striking gaps in women’s healthcare, highlighted the need for resilience and awareness, and acted as a catalyst for promoting more equitable health care.
These shortcomings are addressed through Femtech digital platforms and mobile apps, which leverage technology infrastructure for women’s health and wellness. Telehealth and remote monitoring solutions are further fueled by the use of AI, machine learning, and next-generation technologies such as 3D printing, 3D sensors, enhanced imaging, and screening solutions.
Above all, Indian Femtech players are working to ensure gender equity in health by empowering women, particularly Indian millennial women. Several Femtech companies as well as healthcare companies are already making a strong effort to better serve women, whether through their specific medical needs or by bringing in gender-specific devices and solutions used by women and men alike.
Digitalization fosters collaborations that are advancing digital health research. We are at the cusp of an innovation wave – solutions, devices, and services. Together these are well poised to further propel the Femtech industry to offer even more convenient and hyper-personalized offerings.
However, there are still miles to go.
A government investment program will spur innovation in the tech-based healthcare ecosystem. The femtech industry should collaborate with health technology companies to identify health trends related to women. The adoption of precision health could increase disease predictions, prevention, and treatment rates. Additionally, increasing awareness of Femtech’s progress will greatly contribute to the sector’s growth.
The Global Women’s Health Innovation Conference (GWHIC 2022) aims to bring together India’s start-up innovators and tech creators in the women’s health care industry along with other key stakeholders, and investors to help shape the conversation around women’s health innovation and the future of FemTech in India.
* Excerpts from a published article on www.financialexpress.com