Guest contributor |
Women’s health is a broad and diverse field that is often viewed narrowly as reproductive and maternal health. However, the industry is beginning to understand that it also includes chronic diseases, mental health, aging and social determinants of health. Despite the importance and complexity of women’s health, it has historically been neglected and underfunded. In fact, women were excluded from most clinical trials until 1993. The result is a significant gap in knowledge, innovation and access to care. However, in recent years, there has been a growing recognition of the need and potential of women’s health, as well as the business opportunity it presents.
A report by McKinsey, Closing the Women’s Health Gap, highlighted that while women live longer, they also tend to have more unhealthy years than their male counterparts. Additionally, the report also notes that “many epidemiological and clinical data sets widely used today fail to provide a complete picture of women’s health because they undercount and undervalue the health burden.”
On the bright side, we are beginning to see more investment in digital health solutions for women and expansion of women’s health to include more than just reproductive and maternal health.
According to Forbes, femtech startups had received a total of $679.48 million in venture capital funding in 2024 as of 30 June, representing a three per cent increase over the previous mid-year record, which was $660.02 million in 2022.
As for expanding the definition of women’s health, two early-stage companies exemplify innovation in the industry. Niramai, based in India and founded by Geetha Manjunath, PhD, uses artificial intelligence and thermal imaging to provide a non-invasive, accurate and affordable screening tool for breast cancer. Breast cancer is the most common cancer among women worldwide and the leading cause of cancer death among women in low- and middle-income countries. However, many women do not have access to regular mammography due to the high cost, limited availability and social and cultural barriers.
Niramai’s solution, called Thermalytix, is a portable device that can scan the breast using a thermal camera, and analyse the images using a cloud-based algorithm that can detect the presence of malignant tumours. Thermalytix is painless, radiation-free, privacy-preserving, and suitable for women of all ages and breast sizes. The core technology of their solution uses patented machine learning algorithms for reliable and accurate detection of breast cancer. This solution can be used as a cancer diagnosis test in hospitals, for regular preventive health checkups, and also as part of large-scale screening programmes in rural areas where access to care is limited.
Niramai has screened more than 250,000 women across 20 states in India and has achieved a sensitivity of over 95 per cent and a specificity of over 90 per cent in detecting breast cancer. The company has several customers in India and is also available in United Arab Emirates, Kenya, Sweden, Turkey and Philippines. Earlier this year, they received clearance from the Food and Drug Administration and are now bringing their solution to the United States.
Heart-Tech Health, based in the USA, is dedicated to preventing and treating heart disease in women through their Adesso platform. Adesso is a Software as a Service platform designed to identify cardiac risk at an earlier stage. Developed by Suzanne Steinbaum, D.O., one of the nation’s leading preventative cardiologists, Adesso offers a proprietary, comprehensive risk assessment and personalised health and wellness programmes.
Adesso features a suite of powerful tools and services, including the Adesso Heart Score, enabling women to discover their heart risk. An accompanying app, My Adesso, facilitates the creation and tracking of their personalised prevention journey. This comprehensive platform encourages compliance, tracks behavioural changes and facilitates remote patient monitoring. For healthcare providers, the Adesso Clinical Portal offers an efficient way to track data, ensuring better outcomes and collaborative behaviour change with their patients through a medically-validated, personalised prevention strategy.
Their first pilot with Premier Mountain Healthcare included 100 women in rural Arizona. The programme has been so successful that the cohort of women patients is expected to grow to 800 by October of this year. Interestingly, the clinicians are now asking if men can also participate in the Adesso programme, as well. News travelled fast, leading to another with Arizona’s Commonwealth Primary Care ACO, plus four other clinics in Arizona to contract with Adesso in August and September.
Women’s health has been largely overlooked but is now being recognised as an immense opportunity. Technology is playing a key role in bridging the gaps and addressing the unmet needs in women's health, by providing more accessible, affordable and personalised solutions for women. However, technology alone is not enough. We need bold innovators and commercial partnerships to support and advance all aspects of women’s health. By investing and innovating in women’s health, we can not only improve the health and wellbeing of women, but also of their families, communities and societies.
Sally Ann Frank is worldwide lead for health and life sciences at Microsoft for Startups
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