This interview is an excerpt from our report titled “Menopause: The $600 billion opportunity in femtech“.
The femtech business is witnessing a outstanding surge in progress and innovation, marking a brand new period in ladies’s well being expertise, notably for CPG firms. That is being pushed by a heightened consciousness of women-specific well being wants.
Referred to as “The Voice of Femtech“ President, Founding father of FemHealth Insights
Inside the femtech sector, the menopause market is more and more acknowledged as an important space, significantly for these within the shopper items business. The current FDA approval of the primary non-hormone drug for decent flashes marks a major shift, highlighting the market’s potential.
On the forefront of this transformative wave in femtech is Brittany Barreto, PhD, “The Voice of Femtech” and President and Founding father of FemHealth Insights, who’s pivotal in advocating and advancing ladies’s well being by way of technological and consumer-focused options.
We requested Brittany a collection of questions tapping into her knowledgeable insights in regards to the menopause market.
These are the areas the interview touches on:
CPG firms within the menopause house:
Q: As a CPG firm that sells fast-moving consumables, how do you intend to distinguish your self within the menopause house, which is at the moment dominated by healthcare, biotech, and software program firms?
A: The menopause house is at the moment dominated by healthcare, biotech, and software program firms. Nevertheless, there are a selection of alternatives for CPG firms to distinguish themselves on this house.
One alternative is to concentrate on branding and advertising and marketing that appeals to a youthful demographic. Menopause is commonly seen as a problem that solely impacts older ladies, however the actuality is that many ladies expertise signs of their 40s and 50s.
By focusing on youthful ladies, CPG firms can attain a bigger viewers and make menopause extra relatable. One other alternative is to concentrate on pure and holistic options. Many ladies are on the lookout for options to conventional hormone remedy, and CPG firms can fill this want with merchandise which are made with pure components.
Lastly, CPG firms may also concentrate on schooling and consciousness. Many ladies usually are not conscious of the signs of menopause or the assets which are accessible to them. By offering schooling and consciousness, CPG firms can assist ladies higher perceive their choices and make knowledgeable selections about their well being.
Unaddressed wants in menopause care:
Q: From a CPG perspective, what are some unaddressed wants within the menopause house that may very well be addressed with over-the-counter merchandise?
A: Menopause is a fancy situation with over 34 signs. The present method to treating menopause is to develop single-use options for every symptom. This isn’t perfect, as it may be troublesome and costly to handle a number of signs with a number of merchandise. I consider that sooner or later, there shall be a consolidation of those single-use options right into a extra complete menopause care resolution. This might be just like the best way that Unilever provides a variety of merchandise for various hair and skincare wants.
The current approval of the primary non-hormonal drug for decent flashes is an indication that we’re making progress within the growth of higher menopause therapies. Nevertheless, there’s nonetheless an extended approach to go. Menopause is a significant public well being subject that impacts tens of millions of ladies worldwide. There’s a big market potential for higher menopause therapies, and I consider that this market shall be totally realized within the subsequent 10 to fifteen years.
Alternatives in over-the-counter merchandise:
Q: From a CPG perspective, what are some white house alternatives within the menopause product house for over-the-counter merchandise?
A: Some areas the place I see firms rising are sizzling flashes, vaginal dryness, and atrophy. These are largely being addressed by way of {hardware} options, similar to Embr Labs’ bracelets. There are additionally dietary supplements, similar to these provided by Wile. I feel Wile has the most effective menopause branding methods on the market. They hardly ever use the phrase “menopause” of their advertising and marketing supplies.
As a substitute, they concentrate on the thought of “40-plus hormone well being.” This makes ladies really feel extra empowered and in management, somewhat than like they’re coping with a medical situation. Different options embody lotions, dietary supplements, and gadgets like Aquafit’s gel-based applicator. Aquafit is an Israeli firm that makes a product that girls can use within the bathe to alleviate vaginal atrophy. This situation happens when the vagina shrinks as a consequence of decreased estrogen ranges. Consequently, ladies might expertise vaginal dryness, which will be very uncomfortable.
Patent submitting and buyer loyalty in femtech:
Q: How important is patent submitting as a approach to differentiate oneself within the femtech business, in comparison with branding and buyer expertise?
A: The largest differentiator in femtech is clinically validated, scientifically confirmed merchandise with excessive buyer loyalty. Buyer loyalty is the toughest factor to get in ladies’s well being, nevertheless it’s one of the best factor to have. Girls belief different ladies with their well being greater than medical doctors or the web. Because of this manufacturers like Honey Pot and Bobby Razor have cult followings.
Honey Pot targets the black feminine shopper, whereas Bobby Razor makes razors which are pretty much as good as males’s however don’t value extra. Awkward Necessities is one other firm with a cult following. The rise of femtech is due partially to the rise of ladies in STEM. Girls in science are 35% extra prone to create female-specific medical therapies. If there have been extra ladies in STEM, there could be 6,500 extra feminine innovations. It could be simpler to file a feminine well being patent as a result of there are so few patents on this space.
It is a large open house with loads of potential. Lower than 4% of pharma R&D budgets are devoted to ladies’s well being, and should you take out most cancers, it’s just one%. Because of this massive pharma firms usually are not growing new options for ladies.
They’re ready for startups to do the R&D, after which they may purchase the startups as soon as they’ve a profitable product. That is cheaper and sooner for large pharma firms than doing the R&D themselves. Clients usually tend to stick to a product that’s clinically validated and that they belief. It’s also turning into extra essential for femtech firms to have medical validation. It is because insurance coverage firms are beginning to require medical validation earlier than they may cowl a product.
Analysis of potential product codecs in femtech:
Q: For those who have been to develop, which of those classes could be essentially the most profitable product format in your opinion for femtech?
6- Dietary Dietary supplements: Creating menopause-specific dietary dietary supplements that handle widespread signs similar to sizzling flashes, temper swings, and sleep disturbances.
5- Clothes and Attire: Creating clothes strains with materials and designs that prioritize consolation and temperature regulation to handle sizzling flashes and evening sweats generally skilled throughout menopause.
4- Non-Woven Merchandise: Menstrual merchandise, incontinence merchandise, breast pads, intimate care merchandise, and so on.
3- Purposeful Meals and Drinks: Introducing meals and beverage merchandise that comprise components useful for managing menopause signs, similar to soy-based snacks, natural teas, or fortified drinks.
2- Wearable Units Designing wearable expertise gadgets that monitor and monitor menopause-related physiological adjustments, offering insights and personalised suggestions for managing signs.
1- Magnificence Care Merchandise: Creating lotions, lotions, or patches formulated with components that present aid from menopause-related pores and skin adjustments, similar to dryness and lack of elasticity.
Numbers point out rankings on a scale of 1 to 10 (1 = low, 10 = excessive probability of success).
Challenges in femtech growth:
Q: You don’t see any class scoring larger than a 6. Why is that?
A: I simply really feel a little bit strained as a result of what occurs in femtech is that we’ve got a healthcare system that’s not constructed for us. And so there’s an absence of billing codes. There’s an absence of insurance coverage rebates. Even gynecologists have lower than 4 hours of menopause coaching of their medical college. And so once you’re making a product, the quickest path to market is CPG versus taking place the insurance coverage route or medical route.
And so the rationale I get conflicted, and I didn’t give any of them 9 or 10 is that girls are being requested to purchase an excessive amount of already. This needs to be a healthcare subject that’s being managed by physicians versus your Goal aisle. And in order that’s the place I get type of conflicted. Might it’s a CPG that’s coated by insurance coverage or beneficial by your doctor?
I might rank that larger than one thing that’s on a Walmart shelf. As a result of, like I stated, ladies are already anticipated to purchase too many issues, like taxes are nonetheless on menstrual pads. And it’s like, “Come on, give us a break. You’re going to tax this factor I’ve to cope with each month.”
Conclusion:
The femtech business, with leaders like Brittany Barreto, is remodeling ladies’s well being, significantly in menopause care. Barreto’s insights reveal a market ripe for innovation, emphasizing the necessity for complete, clinically validated merchandise that cater to ladies’s distinctive well being wants, highlighting the golden alternative for CPG firms on this house.
