Ireland has potential to become global leader in femtech, report says
The new report, Femtech in Ireland: The Case for Prioritising Women's Health Research and Innovation, is calling on the Government to prioritise the development of femtech in Ireland, by offering greater supports for femtech research and start-ups, and integrate femtech into national health innovation strategies.
Ireland has a strong background in medtech, digital health and pharmaceuticals, but femtech is underdeveloped and underfunded, despite women making up half the population.
The report is seeking focused funding calls for women's health research and innovation through State agencies, specific funding to commercialise that research, and the establishment of a femtech lab in a healthcare setting with a fast access to clinicliniciansients, data and a test-bed.
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It s also encouraging researchers, clinicians and academics to investigate conditions that affect women only, differently and disproportionately, highlighting the need for the inclusion of sex and gender analysis in research design.
The report, which was produced by Health Innovation Hub Ireland (HIHI), and the Department of Obstetrics and Gynaecology at University College Cork (UCC), says improving support for women's health innovation and entrepreneurship could not only address health inequities, but also offer additional economic potential for Ireland, while also strengthening Ireland's life sciences and technology sectors.
'We need to invest in women's health – not just for equality, but because it's smart research, healthcare, and smart economics. There is a real buzz in the femtech innovation sector in Ireland today, with new ideas and start-ups being developed throughout the country,', said Dr Tanya Mulcahy, Director of HIHI and founder of FemTech Ireland. 'We've supported many of them through HIHI, enabling access to clinicians, patients and researchers. It's a sector that is attracting female founders, and provides a new avenue for young researchers, but it's a sector that needs more support- this report is our call to action.'
The femtech sector itself is expected to be worth more than $97 billion by 2030, while closing the women's health gap could give the global economy a $1 trillion boost each year by 2040. It could also help unlock new medical treatments and interventions for the wider population.
The sector could also encourage more woman founders into the start-up sector, with more than 75 per cent of femtech companies having a woman founder.
Minister for Health Jennifer Carroll MacNeill said the report was an important step toward better care for women across Ireland. 'It supports the work we're already doing through the Women's Health Taskforce and highlights how innovation can help us go even further.'
The report was also welcomed by Minister for Enterprise, Tourism and Employment Peter Burke.
Ireland's first programme to support innovation in women's health, Femtech@HIHI, was launched two years ago. It has now supported more than 30 Irish start-ups that developing everything from wearable tech to track menopause symptoms, to smarter devices for pelvic health and fertility, all aimed at supporting women's health.
'We are witnessing extraordinary advances in healthcare technology and innovation,' said Professor John R Higgins, principal investigator of Health Innovation Hub Ireland and Professor of Obstetrics and Gynaecology, University College Cork and Cork University Maternity Hospital. 'In women's health however, a long-standing gap in research has meant that these innovations have not always translated into meaningful solutions. This gap in evidence directly impacts the development of technologies. Now is the time to bridge that divide – with focused funding, targeted research, and innovation supports.'
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