The Digital Future of Men’s Health – Is there one?
Many of us are familiar with the concept of women's digital health, or at least have heard the buzz. “FemTech” has seen an explosion in recent years with recent projections stating the industry will grow by 17% over the next 4 years with a market value of over $60 billion. The market began with a focus on providing more solutions around women’s reproductive health but has since expanded to a broad range of health conditions that are sometimes minimized or may be considered embarrassing or difficult to discuss (e.g., menopause, mental health, sexual health, etc.).
With the success of the FemTech industry, why have we not seen a similar explosion of companies focused specifically on men’s health issues? After all, they have similar issues; sexual and reproductive health, hair-loss, prostate conditions, skincare and wellness, mental health, etc. The answer may partly lie in utilization - traditional employer sponsored insurance was designed in the 1940’s with men in mind, (FemTech attempts to fill some glaring gaps) but men often aren't using their coverage. Nearly two-thirds of men delay seeing their doctor as long as possible when experiencing illness or injury. The trend applies to behavioral health services as well with only 37% of men receiving treatment compared to 51% of women.
Despite real or perceived roadblocks to adoption, we are starting to see niche companies enter the space. Some examples include:
- Reproductive and sexual health: Numan, Manual, Mojo, Regimen, Bluechew, Dadi
- Men's overall health and wellness (including mental health and community support): Spring, Hims, Sukham, Maximus, Wellster Healthtech
Whether it is Fem-Tech, Men-Tech, or tech for any gender identity, we anticipate digital health solutions will continue to be attractive to users for their convenience, privacy, and timeliness. As with any carved-out solution, employers should be monitoring their population for potential unmet needs and evaluating if movers and shakers in the direct-to-consumer market make sense for consideration in their employee benefit strategies.