5 Key Strategies for Women-Led Businesses to Enter the Global Market
In the past, international expansion for businesses required high costs and significant resources. Geographical barriers made it difficult for businesses to understand foreign markets, collaborate with global partners, and adapt products for various customer segments. However, modernization has eliminated these barriers, making international expansion more affordable and realistic. Today, reaching the global market is easier, turning global expansion into a more achievable dream, especially for femtech businesses led by women.
Femtech Market Growth in the Asia-Pacific Region
In the Asia-Pacific region, the femtech market is rapidly growing with innovative solutions for women’s health needs, alongside increasing investments. According to a Frost & Sullivan report, the femtech market in APAC is expected to reach US$ 1.1 billion by 2024, with predictions that the region will experience the largest growth in the next five years. The Japanese Ministry of Economy estimates the market impact of femtech companies in the country to reach $16 billion by 2025. This growth is driven by efforts to educate the public on women’s issues and eliminate the stigma surrounding women’s health, with femtech as an educational tool.
5 Tips for Standing Out in the Global Femtech Market
Personalization
This strategy encourages growth in femtech companies by focusing on a personalized approach for user comfort and accessibility. Combining high technology with personal support, this care model enhances outcomes, meets user needs, and reduces unnecessary costs and hospitalizations. To address life expectancy gaps due to unequal healthcare access, femtech must consider the unique needs of patients. Recognizing the diversity of women’s experiences and providing competent care is essential to meeting the needs of various populations globally.
Education
McKinsey analyzed over 700 femtech companies and found that public awareness increases as the industry grows. The emergence of many new startups modernizing services creates opportunities to expand access to femtech products for women worldwide. Founders must understand the challenges in the industry to conduct appropriate education. At the same time, the audience needs to be informed about the solutions offered by femtech to get accurate information on the services they need or the latest services available.
Environmental Sustainability
Over the past decade, many industries have increased the adoption of sustainable practices, including femtech. For example, environmentally friendly menstrual products. On average, women use about 11,000 disposable hygiene products in their lifetime, which can take up to 800 years to decompose and harm the environment. Therefore, developing sustainable natural and synthetic textiles, creating recycling programs, and raising awareness are key focuses.
Professional Teams
Women’s health is a complex topic that requires experienced professional teams to create safe and effective solutions. Teams that understand industry issues can design products that meet the needs and desires of users. When recruiting teams in the femtech sector, meeting in person and setting clear expectations is essential. The team should understand concrete goals and be responsible while also understanding regulations related to women’s health products to ensure safety and compliance.
Key Differentiators
To compete in the global market, femtech companies must find unique features that set their products apart. Create differentiators that are easy to remember, making your product more appealing to customers and boosting brand loyalty. Review competitor products and offer more efficient or advanced solutions. Ensure the product is user-friendly and provides a better customer experience.
With increased accessibility and opportunities for international expansion, femtech businesses, particularly women-led, are in a favorable position to grow in the global market. By focusing on personalization, education, sustainability, competent professional teams, and creating strong differentiators, femtech companies can address existing challenges and meet the healthcare needs of women worldwide. Now is the time for femtech business leaders to take bold steps and explore the limitless potential of the global market
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Written by Diyah Trisasmita
