The Landscape of Femtech in Canada: Overcoming Obstacles and Catalyzing Progress

In a recent discussion with Rachel Bartholomew, founder of Femtech Canada and CEO of Hyivy Health, important insights were shared regarding the state of women's health innovation in Canada. Despite the significant growth of the global femtech industry, challenges persist in Canada related to funding, research, and policy, highlighting the underfunded and underserved nature of women's health.

Bartholomew emphasizes the critical importance of women's health innovation, pointing out that women represent 50.4% of Canada’s population but were largely excluded from clinical trials until 1997. This exclusion has resulted in ongoing disparities: only 19% of animal studies utilize female models, and women represent merely 30% of clinical trial participants. Consequently, these gaps lead to delayed diagnoses, misinformed treatments, and overlooked innovations. Bartholomew underscores that the healthcare system is lacking essential data on women from the outset.

The femtech market is not merely a niche but a robust $1 trillion industry. It encompasses major opportunities in fields such as menopause, reproductive health, chronic conditions, and maternal care. Despite this potential, Canada faces unique challenges, including inadequate access to healthcare in rural and remote regions, a lack of culturally competent services for Indigenous and immigrant populations, and stigmas that inhibit open discussions about reproductive health and sexual wellness. Notably, for every dollar invested in women's health, a projected return of three dollars exists, highlighting the economic viability of addressing these issues.

Femtech Canada was established to support innovators and tackle the gaps in women's health. Since its inception, the organization has developed into the third-largest femtech ecosystem globally, now tracking over 160 companies in the sector. These innovators have created more than 1,200 jobs, secured 75 patents, commercialized 72 products, and raised $250 million in private investments. Bartholomew notes that while significant progress has been made, particularly with recent acquisitions of femtech companies, there is still much work to be done.

To advance women's health, Bartholomew issues a call to action. She encourages individuals in the industry—investors, corporate leaders, and ecosystem builders—to reflect on how women's health is incorporated into their work. For investors, it is crucial to ensure portfolio companies are equally testing on men and women, while corporate leaders should consider implementing dedicated women’s health strategies. Additionally, Bartholomew advocates for active policy changes supported by government initiatives that can bolster the femtech sector.

In summary, addressing the inequities in women's health requires collective effort, advocacy, and awareness. From investing in femtech to driving policy changes, stakeholders across various sectors must consider their roles in improving women's health. For those looking to connect with resources or support, Femtech Canada offers avenues for engagement and collaboration.

For more insights, individuals are encouraged to watch Rachel Bartholomew’s presentation and explore how they can contribute to the advancement of women’s health in Canada.