A new report has challenged Ireland to become a trailblazer in FemTech innovation, a rapidly growing sector projected to reach €97bn globally by 2030, yet one that has long struggled with underfunding.
Published by Health Innovation Hub Ireland (HIHI) and University College Cork’s Department of Obstetrics and Gynaecology, the research highlights that, despite Ireland’s established strengths in medtech, pharmaceuticals and digital health, investment in women’s health innovation remains insufficient. Globally, less than 5% of the health research budget is dedicated female-specific conditions.
“We need to invest in women’s health – not just for equality, but because it’s smart research, healthcare and smart economics,” said Dr Tanya Mulcahy, Director, HIHI and Founder, FemTech Ireland, in a press release on the report. “There is a real buzz in the FemTech sector in Ireland, but it needs more support – this report is our call to action.”
Since its launch in 2022, the HIHI has supported 34 Irish start-ups, mapped more than 35 SMEs and built a 455-member national network of innovators, clinicians, investors and patients. In its first funding call, 37 companies applied and 73% of founders were women. Solutions included AI-powered menopause trackers, pelvic health devices, postpartum care products and non-hormonal contraception.
Prof John R Higgins, Principal Investigator, HIHI, added: “In women’s health, a longstanding gap in research means innovations have not always translated into meaningful solutions. Now is the time to bridge that divide – with focused funding, targeted research and innovation supports.”
The report lays out the key areas in which innovation is needed, categorising conditions into those that only affect women (e.g. menstrual health and endometriosis), those that disproportionately affect women (e.g. autoimmune disease – 80% of cases) and those that affect women differently (e.g. cardiovascular disease, where symptoms differ from men’s and often lead to misdiagnosis).
The sheer volume of conditions in each category underscores not only the scale and complexity of the challenge, but also the urgency at play for the pharma industry – both in Ireland and internationally – to drive meaningful progress at pace.
