The global femtech market – including software and tech-centric products, services and medical devices focused on women’s health – was valued at $51 billion in 2021 [according to Statista]. It is estimated to grow to $103 billion by 2030. If anything, this segment of market focused on women’s health has come a long way since its early days in 2016 when Ida Tin coined the term ‘femtech’.
Regionally the industry is projected to be worth $3.8 billion by 2031 [according to FemTech Analytics]. Even though the landscape continues to be largely underserved the scenario is changing with players coming up with specialised products and services targeting women’s health.
One such brand is PECTIV specialising in feminine hygiene products made using innovative nanotechnology. The brand has recorded a “significant increase” in order volume selling over 100,000 packs of sanitary products with over 80% of sales attributed to repeat customers.
Interestingly with a man – a seasoned pharmacist – at its helm PECTIV believes the female hygiene products and solutions market holds a significant growth potential. In an exclusive conversation with RetailME Dr Elias Abboud, CEO & Founder, PECTIV spoke about development and growth potential of the market as well as PECTIV’s global expansion plans.
How difficult is it for a man to run a female hygiene company?
As a seasoned pharmacist with an MBA degree, I’m blessed with the medical and marketing knowledge to drive a femtech company. This domain is predicated on scientific research which is gender agnostic. In addition, since PECTIV’s product development is underpinned by customer feedback my role has a strong business focus. When I’m pitching to venture capitalist companies the stakeholders tend to be both males and females with good awareness of women-centric problems. I often liaise with impact-led investors which makes the job of running a feminine hygiene company more purposeful.
What kind of developments do you expect in the regional femtech landscape in the next 12 months?
We expect the regional femtech industry to ramp up modern solutions such as nanotechnology-based sanitary pads. The demand for such products in the region is market and customer driven. So, innovators will operate with a solution-oriented approach to help women address common problems. Product aside, even the downstream services such as doorstep delivery will be prioritised with e-commerce as the preferred channel.
What kind of R&D related investments have you made and are you seeing commensurate return on investment (ROI)?
R&D is the cornerstone of a femtech company. We’ve invested a significant amount of time, capital and other resources in product and service R&D. The research is part of a feedback loop where we factor in customer responses and reviews. Therefore, the products are inherently customer centric. We’ve a clear-cut vision of the ROI. We’re more geared towards investing in raising awareness among women’s health through PECTIV products. And the ROI is in sight thanks to our impact-led strategy.
How do you plan to grow PECTIV over the next 12-24 months?
We’ve a multi-pronged growth strategy. On the product front we’re developing two innovative products with which we hope to revolutionise the femtech market. Additionally, we’re gearing up for a methodical expansion of our commercial units in existing markets and the launch of a new branch in Saudi Arabia. Globally we’re in the initial stages of launching our products in the US, the UK, Canada and Australia using our robust e-commerce capabilities.
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