Southeast Asia Femtech market map 2022

Southeast Asia Femtech market map 2022

Source: French Chamber and Fermata

Pham Phuong Linh introduced and edited

As mentioned in previous articles, Femtech (female-focused health technology) is attracting significant attention. The COVID-19 pandemic has heightened women's health concerns, raising the question: How big can Femtech become? While the sector's growth may be slow initially, as startups pave the way for innovation and the need for capital emerges, we can expect healthcare giants to enter the Femtech space.

The Femtech industry in Southeast Asia experienced explosive growth, surging over 70% in just one year from 2021 to 2022. This exponential growth signifies the region's vast potential. This article delves into key questions surrounding Femtech's development: What solutions are emerging? What factors are driving this growth? What does the future hold? By examining Femtech's 2022 market intelligence for Southeast Asia, we can gain valuable insights into the region's rapidly evolving landscape.

Singapore remains the leading market with 32 companies (up 45%). Notably, Malaysia surpassed its previous number with a significant increase of 12 companies (up 500%).

Across the region, there is steady growth in the Philippines (9 companies), Thailand (6 companies), Indonesia (5 companies), and Vietnam (4 companies).

The number of Femtech companies remained steady in Cambodia, Laos, and Myanmar. These countries likely continue to prioritize essential public health initiatives and address women's basic needs, such as routine health education for younger generations to encourage continued schooling. In Myanmar, the 2021 military coup and rising sanitary napkin prices have significantly impacted women's access to menstrual products. While volunteers and NGOs offer some support, survival remains the top priority for many, overshadowing health considerations.

The market map reveals several prominent categories:

  • Sexual Health: Startups empower women to proactively manage their sexual health through informative resources and convenient access to products. For example, Ease Healthcare delivers birth control, emergency contraception, and other sensitive medical services directly to women's doorsteps, offering discreet online ordering;
  • Fertility: Femtech solutions address various fertility goals, including services like IVF and egg freezing, as well as products for managing fertility. Additionally, innovative models like Lumirous' online fertility coaching services in Malaysia or Yesmom (Thailand) and Fig (Singapore) providing at-home hormone tests are gaining traction;
  • Menopause: Wearables like the Elocare in Singapore allow women to easily monitor, treat, and manage menopausal symptoms. Menopause care remains an untapped area, presenting significant opportunities as women approaching perimenopause and menopause hold greater purchasing power than ever before.

Vietnam's Femtech landscape currently comprises four companies: Cocmau, OVA lady, Lincup, and Mona, primarily focusing on menstrual cups and menopause products. Market observation suggests that businesses favor the B2C model to optimize operating costs and reach customers through online channels. This approach is particularly relevant in the current economic climate, with the COVID-19 pandemic and global political instability leading to reduced consumer spending on non-essentials. Menopause, however, presents a promising yet underexploited area in the Vietnamese Femtech market.

Useful for business