Sustainable Femtech Network, the community for sustainable femtech innovation, has released its Sustainability in Femtech 2023 report.
Shutterstock
The report is the first of its kind to look at attitudes, perceptions and experiences of sustainability across the femtech industry.
Using data gathered from a sector-wide survey, the report revealed that nearly three-quarters (72.2%) of respondents think improvements are needed to make the industry more sustainable.
Materials and circularity were cited as top challenges, alongside a lack of funding for sustainable innovation (59.1%). This is despite sustainability being perceived as a key driver for some funders and investors. One respondent commented “Investors are asking for sustainability.”
The survey on which the report is based, conducted by Sustainable Femtech Network, was designed to assess current sustainable practices among femtech, sextech and women’s health companies and to identify existing challenges.
With the femtech market set to reach an estimated $75.1 billion by 2025, the Sustainable Femtech Network is working to promote and support sustainability across the sector.
Sustainable Femtech Network aims to drive sustainable change through research, knowledge-sharing and collaboration across the industry and is open to anyone with an interest in the sector – from femtech founders and employees through to researchers, investors, suppliers and manufacturers.
The Sustainable Femtech Network is run by Oshun Labs, a women’s health innovation lab. Amy Guthrie, network founder and Oshun Labs CEO, said: "Women’s health and sustainability are intrinsically linked. We fully support the growth of the femtech sector to improve women's health, while promoting the integration of sustainable practices. For businesses, these goals can be complimentary, rather than conflicting.
"Femtech is a highly innovative sector, and by reporting on the sustainability challenges faced by femtech companies, we are highlighting the need for additional funding and support to implement sustainable approaches and innovations."
