Transforming Menopause Care: a Largely Untapped Market
Transforming Menopause Care: a Largely Untapped Market
Menopause has long been overlooked and misunderstood.
Summers at my grandma's house were a blast! We had a big swimming pool, yummy watermelon, and endless fun with my cousins. Grandma, an Italian immigrant, always looked after us and made sure we had a great time. When the day was winding down, after taking care of us all day and feeling a bit tired, she would chat with me. She'd share how, as she got older, her energy wasn't the same (she was 55 y/o at that time).
I'll always remember her words: "As you mature, you'll come to understand the experiences of women and men during menopause and andropause."
Globally, nearly 1 billion women are experiencing menopause, yet the impact it has on their daily lives often goes unrecognized.
The Problem
The transition through menopause, a natural and transformative phase in a woman's life, presents an array of challenges that have long been under-addressed. A staggering 80% of individuals undergoing menopause find their daily routines disrupted by its symptoms, and nearly half of these individuals report that these symptoms have significantly affected their work performance
The Market
The magnitude of the menopause challenge demands urgent attention. With close to 12% of the global population (1 billion women) experiencing this life stage, there is a pressing need for comprehensive solutions and robust support systems.
Unfortunately, the current care model falls short in adequately addressing women's needs. In the UK, less than 10% of women express satisfaction with the care they receive during menopause. Meanwhile, over 90% of women in the US are seeking non-invasive alternatives. This discontent underscores the market's readiness for innovative approaches to address the complexities of menopause.
Digital Solutions
Vira Health, a pioneering digital health company, stands at the forefront of transforming women's long-term health outcomes. With a focus on female-specific conditions and the enhancement of female-centric data utilization in healthcare, this startup is poised to revolutionize women's wellness journeys. Vira Health's flagship product is Stella, an innovative app engineered to guide women through the intricate labyrinth of menopause.
Stella, is a personalized app designed to offer comprehensive support for women undergoing menopause. This app seamlessly integrates:
1. evidence-based interventions,
2. encompassing cognitive behavioral therapy,
3. pelvic floor exercises, and
4. personalized diet and lifestyle adjustments
The outcome is a bespoke treatment plan tailored to each individual's unique requirements.
Addressing a wide spectrum of challenges, from enhancing sleep quality to managing anxiety and addressing bladder issues, Stella empowers women to elevate their quality of life not only during menopause but also well into the future. By providing a multitude of evidence-based interventions, Stella aspires to alleviate the burdens of menopausal symptoms, enabling women to thrive during this transformative phase.
Investment
Vira Health's commitment to revolutionize women's health has attracted substantial investment. The startup recently secured $12 million in its second funding round, with Octopus Ventures leading the investment.
While Vira Health is making strides in the digital health space targeting menopause, it's worth noting that the industry is witnessing the emergence of other players as well. Startups like Elektra Health, Gennev, Peppy, and Lisa Health are also stepping into this space.
The increased attention and funding towards women's health, especially in the field of FemTech, highlight the growing recognition of issues exclusively affecting women.
On a global scale, FemTech experienced a transformative year in 2021. As per Pitchbook data, investments in Femtech crossed the $1 billion mark for the first time during this year.
FemTech offers an extensive array of solutions aimed at enhancing women's healthcare across various conditions unique to females. These encompass maternal health, menstrual health, pelvic and sexual wellness, fertility, menopause, contraception, and even several general health issues that impact women distinctively or disproportionately, such as osteoporosis or cardiovascular disease. Although the field is in its nascent stages, McKinsey suggests that the driving forces propelling FemTech, including public awareness, the establishment of new companies, and increased investment, are experiencing significant growth.
Looking ahead
With Vira Health's steadfast commitment to enriching women's well-being, the landscape is poised for a transformative shift.
Enhancing female representation among researchers, inventors, investors, and founders can give rise to more consumer-centric products and solutions tailored to women's specific healthcare needs.
Undoubtedly, the target audience encompasses not only women consumers but also payers and providers who strive for improved tools and products to engage effectively with female end-consumers. The triumph of FemTech solutions not only encompasses commercial accomplishments but also fosters an environment conducive to ongoing innovation. Recognizing that women are not solely consumers but often the primary healthcare decision-makers for themselves and their families underscores how enhanced health outcomes for women can catalyze broader societal well-being.
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+ better menopause care is good,
Martin
P.S. I used some of the following sources to obtain the data for this article:
(1) McKinsey (2) Vira.Health (3) Yahoo Finance (4) Crunchbase
I’m a big fan of Vira Health and what they are doing with the Stella app. Nice article