50 Companies Pioneering the Future of Menopause Health
Menopause is having its moment.
Menopause used to be a topic people whispered about, but now it's getting a lot of attention in the world of healthcare innovation & investments.
For a long time, this normal part of a woman's life has been overlooked, but now it's getting the recognition and attention it should, all thanks to a surge of investments and startups led by influential players in the field:
1. Evernow, a telehealth firm concentrating on offering services for perimenopause and menopause, raised $28.5 million, receiving support from angel investors such as Gwyneth Paltrow, Drew Barrymore, Cameron Diaz, and Othman Laraki, the co-founder of Color.
2. Actress Naomi Watts, in collaboration with biotech company Amyris, introduced Stripes, a beauty and wellness brand that places a strong emphasis on menopause health.
3. Actress Judy Greer became a founding partner at menopause-focused startup Wile with a focus on products for women in their 40s and 50s.
As the world wakes up to the significant impact of menopause on women's lives and careers, employers are rethinking their health benefit offerings, marking a significant shift in how this crucial life stage is being addressed.
Let the Numbers Do the Talking
According to a recent report by Grand View Research, the global menopause market is projected to surge to $24.4 billion by 2030, marking a substantial increase from $15.4 billion in 2021.
Also, the Society for Human Resource Management reports that nearly 20% of the U.S. workforce, approximately 27 million people, experiences menopause. This life phase's impact on productivity is also striking; around 40% of individuals report that their work performance is disrupted on a weekly basis due to menopausal symptoms. Even more concerning, almost one in five have contemplated leaving their jobs due to these symptoms, as per a survey from Biote. When we expand the perspective globally, the cost of menopause-related productivity losses tallies up to an astonishing $150 billion annually, according to a Frost & Sullivan analysis cited by Bloomberg.
Menopause Solutions Across Sectors
Entrepreneurs and innovators are rising to the occasion, addressing the multi-faceted challenges presented by menopause. A comprehensive landscape analysis by SJF Ventures has identified five (5) key sectors where these solutions are taking shape:
Biopharma: Pioneering biopharmaceutical and therapeutic interventions aimed at enhancing ovarian health and alleviating menopause symptoms.
Consumer Goods: Offering a wide array of health supplements, personal care products, and sexual wellness aids tailored to the needs of aging women.
Digital Technology: Creating innovative platforms for comprehensive menopause management, including symptom tracking, educational resources, and supportive social networks.
Medical Devices: Designing wearable devices and other medical innovations that provide relief from menopause-related symptoms like hot flashes and vulvovaginal atrophy.
Virtual and Hybrid Care: Transforming the clinical care landscape by providing virtual consultations, medication management, and expert guidance for women navigating the challenges of menopause.
Investing in Menopause Care:
While menopause care is gaining traction in the entrepreneurial and investment spheres, the funding landscape still has room to evolve. Over a span of seven years, from 2015 to Q1 2023, startups addressing menopause care secured approximately $530 million in funding, according to PitchBook and Crunchbase data. Though this figure might seem significant, it pales in comparison to other sectors. To provide context, fem-tech startups secured $1.9 billion in funding in just one year, and digital healthcare companies received a staggering $30.7 billion in the same period.
Of the $530 million invested in menopause care, virtual and hybrid care received about $210 million, and biopharmaceutical innovations garnered approximately $145 million. Interestingly, while biopharma and clinical care have received the lion's share of funding, the majority of companies are innovating in the consumer goods and services realm, followed closely by virtual and hybrid care solutions.
The recent surge in investment and innovation in menopause care shows that attitudes towards women's health are changing for the better. This important phase of life is finally getting the attention it deserves. With entrepreneurs and investors working together, new solutions in different areas are set to completely transform how menopause is dealt with, bringing hope and empowerment to women all over the world.
+ Better menopause care is good,
Martin
P.S. I used some of the following sources to obtain the data for this article:
(1) Grand View Research (2) SJF Ventures (3) Crunchbase (4) PitchBook (5) Biote (6) Frost & Sullivan