Milieu Insight & FemTech Asia reveal insights into SEA femtech
A recent collaboration between Milieu Insight and FemTech Association Asia has yielded a comprehensive report on the evolving femtech landscape in Southeast Asia. The report, titled "Insights into the Femtech Landscape in Southeast Asia (SEA)", explores various aspects of femtech awareness, usage, and attitudes in Indonesia, Malaysia, Singapore, Thailand, The Philippines, and Vietnam.
According to the report, 60% of consumers in Southeast Asia are utilising femtech products and services. This indicates a noteworthy level of adoption within the region. Additionally, there is substantial interest among current non-users, with 54% indicating their intention to use femtech products or services in the near future. Current users are also projected to increase their spending on these products by approximately 5%.
Social media plays a significant role in spreading awareness about femtech. The survey reveals that five out of ten women in Southeast Asia consider social media a valuable platform for sharing information and personal experiences related to women's health. This openness on social media stands in contrast to the cultural stigma that surrounds public discussions on women's health issues, with 52% of women concerned about judgment and shame.
The report provides the first quantified measure of consumer value for femtech within the six studied markets. It underscores a gap in women's health education where most women were primarily taught about menstrual health, puberty, and sexually transmitted infections during their formative years. The study covers a range of topics, including femtech awareness, usage habits, future intentions among non-users, the influence of media and religion, maternal and reproductive health, and concerns related to hormonal health, such as menopause.
Juda Kanaprach, Co-Founder and Chief Commercial Officer at Milieu Insight, highlighted the report's potential impact. "This report not only highlights the current state of femtech adoption but also lays the groundwork for future advancements and collaborations in improving women's health outcomes across the region. Our aim is to prioritise a localised business approach within Southeast Asia, respect cultural sensitivities, and foster strategic partnerships," Kanaprach stated.
Lindsay Davis, Founder of FemTech Association Asia, stressed the importance of empowering women through technology. "The findings of this report will not only inform our advisory and advocacy efforts but also inspire innovation and investment in femtech solutions tailored to the unique needs of this region," Davis remarked.
The report's release coincides with FemTech Connect Asia, a roundtable event focusing on women's health and technology. The event, scheduled to take place in Singapore on June 20 and 21, 2024, aims to bring together thought leaders, entrepreneurs, corporate executives, investors, and other stakeholders to discuss and advance the femtech industry.
