Women’s health innovation took centre stage at the Investnet Future Health Summit 2026, where Health Innovation Hub Ireland (HIHI) Director Dr Tanya Mulcahy presented key findings from Ireland’s first national FemTech report and outlined the growing opportunities for research, innovation and investment in women’s health.
In 2023 Femtech @HIHI launched Ireland’s first call for companies developing Femtech solutions. Thirty-seven applications were received, 11 were selected for support, 73% of applications were from female founders.
These included a novel contraceptive device, easily inserted and reduces the need for pain management, medical devices for the treatment of vaginal atrophy and pelvic floor conditions, symptom tracking and data analytics apps for menopause, Parkinson’s disease and women’s sport, products for postpartum care and a wearable for passive monitoring of menopause (vasomotor) symptoms.
Health Innovation Hub Ireland has supported these startups through clinical and patient feedback, pilots and evaluations.
Femtech unicorns emerging
Women comprise 51% of Ireland’s population and 48% of the global workforce. They live longer than men but face more years of poor health. Despite the $500 billion health and economic burden, women’s health remains underfunded and overlooked in research and healthcare systems.
Femtech, a growing sector addressing women’s healthcare needs, is projected to reach $97 billion by 2030. However, limited research, lack of innovation supports and low venture capital investment hinder transformative innovation. While the field is expanding—with nine Femtech unicorns emerging—Femtech companies still face funding challenges.
Ireland is recognised for its progressive approach to women’s healthcare, supported by inclusive policies, the Department of Health’s Women’s Health Task Force, and national initiatives in fertility, menopause, and gynaecology. As Europe’s second-largest medical device exporter, Ireland has a strong healthtech sector and a thriving ecosystem of FDI-backed life sciences, medtech startups, and university-led research.
Ireland has a strong start-up ecosystem supported by Enterprise Ireland and the Department of Enterprise, Tourism and Employment, this sector is informed by academic and clinical research, and while Ireland has specific sectors such as Medtech, Pharma, Digital Health, FinTech, Space Science etc, country has an opportunity now to include Femtech as a priority area.
In 2022 Health Innovation Hub Ireland recognised this opportunity and launched Femtech @HIHI- with the goal of creating Ireland’s Femtech Ecosystem supporting start-ups and innovators in this field.
HIHI has supported 34 Femtech companies in the last 2 years and created a network of members interested in supporting, researching, innovating and participating in women’s health innovation. Through this activity HIHI has identified the significant opportunity that Femtech offers- in addressing healthcare delivery and in enabling both start-ups and MNCs to lead in this area.
As global investment in Femtech accelerates, prioritising women’s health research is both a social responsibility and a strategic economic move. Better healthcare access for women boosts workforce participation, productivity, and reduces healthcare costs.
With 75% of Femtech companies founded by women, investing in this space fosters innovation and uncovers critical physiological differences in health conditions. By supporting Femtech Innovations we fuel the pipeline for Europe’s next Femtech Unicorn. Ireland must take bold action to amplify support for this sector, strategically positioning itself as a global leader in Women’s Health Innovation/
When considering women’s health conditions in relation to men, there are three broad groups:
- Conditions that affect women only: These conditions are largely related to hormones and reproductive health and include, menstrual health, gynaecological conditions such as Endometriosis and Polycystic Ovary Syndrome, fertility, maternal health, women specific cancers, menopause etc
- Conditions that affect women disproportionately to men: These are conditions that affect both men and women but in general the incidence in women is much higher, these include (but are not limited to) autoimmune conditions (80% of cases are women), osteoporosis (80% of cases), Alzheimer’s Disease (AD) and Dementia (two thirds of cases with AD in the USA are women), Urinary Tract Infections (30:1) etc.
- Conditions that affect women differently to men: These are conditions that affect both men and women but manifest differently in terms of symptoms and outcomes. Cardiovascular Disease- Heart disease symptoms in women (fatigue, nausea, shortness of breath) are often different from the classic chest pain seen in men, leading to misdiagnoses and delays in care in women. Osteoporosis, autoimmune conditions, mental health and neurological conditions all manifest differently and research has shown that hormones and biological cycles impact symptoms, onset and response to medication in these conditions.
Recent economic reports emphasize Femtech as a rapidly growing industry with significant financial potential.
According to the World Economic Forum, closing the women’s health gap could generate $1 trillion in annual global GDP by 2040.
Dealroom.co estimates that Femtech companies are now valued at $28 billion globally and Frost & Sullivan projects continued growth in key areas such as fertility solutions, menstrual care, and menopause treatments, driving the sector’s expansion.
Additionally, the Women’s Health Access Matters (WHAM) report underscores that increased research and investment in women’s health could yield substantial returns, as healthier women contribute to stronger economies through workforce participation and productivity.
Importantly, this report has already driven action. In response, the Minister for Health has committed €2 million in dedicated funding for women’s health research marking the first time funding has been ringfenced specifically to address these gaps and advance evidence-based, gender-informed care.
Photo: HIHI Director Dr Tanya Mulcahy
02.06.2026.
