Access our report for a detailed analysis of the femtech and menopause market, investment opportunities, challenges, and expert insights from industry leaders.
During the last 15 years, the femtech industry has seen remarkable growth, with the number of companies soaring from 11 in 2006 to over 200 in 2021. Despite this expansion, the menopause care sector remains notably underrepresented within femtech. It receives only 7% attention due to chronic underfunding, despite its substantial economic prospects.
This article aims to shed light on the untapped potential of the menopause market and the crucial steps needed to bridge the gap between economic opportunity and effective care for menopausal women.
A booming market:
The menopause market, projected to hit a staggering $600 billion by 2030, stands as a substantial growth opportunity within the femtech industry. With an estimated 1.2 billion women likely to be affected by menopause within the next decade, the market’s potential is immense.
As of 2021, industry leaders worldwide highlight the femtech industry’s major challenges as a lack of investment and R&D funding. These issues are underpinned by two key factors:
- Cultural taboos surrounding women’s bodies and menopause.
- Male dominance among decision-makers in Venture Capital funding.
Research indicates that many menopausal women are unaware of tailored marketing for menopause products. Existing advertisements are often seen as uninspiring, outdated, and failing to connect with their lived experiences.
Moreover, a notable issue arises from a lack of awareness regarding the comprehensive spectrum of menopause symptoms. There are around 34 symptoms, resulting in a substantial gap in effectively catering to this demographic.
Key factors for growth in the menopause market within the femtech sector:
1. Increased awareness
A growing awareness among women (1.2 billion menopausal women by 2030) about menopause and its associated symptoms is fueling the demand for various treatment options.
2. Demographic shift
The global population is witnessing a significant demographic shift, particularly with the baby boomer generation entering menopausal stages. The impending transition of millennials into perimenopause indicates a substantial market expansion in the near future. This goes with an estimated 1.3 million individuals entering menopause annually.
3. Women’s purchasing power
Women over 50 hold considerable influence as super consumers, commanding a spending power of around 15 trillion. Approximately 170 million women in the U.S alone, and 3.8 billion women globally, have undergone or will undergo the menopausal phase. This emphasizes the sizable consumer base for menopause-related products and services.
Understanding the challenges ahead:
Despite its economic potential, the menopause market encounters some hurdles. Particularly, it faces insufficient targeted advertising and a lack of awareness about menopause symptoms among affected women. Studies reveal a lack of tailored ads for menopausal products, failing to resonate and engage due to uninspiring, outdated content that doesn’t mirror their realities.
To harness the market’s vast potential, addressing these challenges is imperative. Tailoring marketing to resonate with diverse menopausal experiences and enhancing symptom awareness among women is crucial for effective engagement.
Raising awareness of menopause symptoms:
Brands can create awareness of menopause symptoms through educational content, collaborations, and symptom-specific marketing. Let’s explore further!
- IP fortification: Prioritize patent acquisition to secure funding, protect innovations, and foster innovation in menopause care.
- Customized messaging: Focus marketing on specific symptoms instead of direct “menopause” references for better consumer connection.
- Consumer enlightenment: Elevate awareness about menopause symptoms to bridge knowledge gaps among consumers.
- Brand Integrity: Cultivate lasting brand loyalty and advocacy by delivering reliable products and valuable information.
- Holistic solutions: Develop clinically validated dietary supplements addressing diverse menopausal symptoms for comprehensive consumer satisfaction.
Innovative opportunities in the menopause market:
Analysis of patents reveals a promising avenue for consumer goods companies to delve into the menopause space. This is particularly through advancements in non-woven materials and apparel designs. These innovations aim to address pain management and symptom relief, representing a potentially transformative approach to menopause care.
To capitalize on this opportunity, it is imperative for companies to prioritize patent acquisition. Acquiring patents not only enhances funding prospects but also safeguards intellectual property rights and fuels innovation in menopause care.
In essence, with the menopause market set to reach $600 billion, investors have a prime opportunity in the evolving women’s health and femtech landscape. Embracing innovation and tailored care unlocks substantial growth potential while leading transformative change in menopause care. This offers both financial returns and a pioneering role in healthcare evolution.
