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Monday, June 29, 2020

Black Entrepreneur Releases First-of-its-Kind Health and Tech Report Identifying New Industry Sector – FemAging Tech – Revealing That African American Women are Overlooked in Innovation Research, Development and Investment

Research reveals that many FemAging Tech innovations are not meeting the needs of 63% of Black women who are concerned about staying active and independent as they age.

FemAging Tech: Innovations (e.g., software, diagnostics, devices, nutraceuticals, wearables, pharmaceuticals, clothing, and other products and services) developed specifically for women ages 40+.

Denise Pines, founder of Wisepause and author of the FemAging Tech Report

Los Angeles, CA — WisePause, a pro-aging wellness and education platform, today released two new research reports: FemAging 2020 HealthTech Report and FemAging in the COVID-19 Era. The report introduces a new industry sector, FemAging Tech, and sheds important light on the most critical current and future health, wellness, and innovation needs of women ages 40 to 65.

FemAging 2020 HealthTech reveals that over half of U.S. women age 40+ are very concerned about whether they will be able to stay active, healthy, and independent as they age especially African American women. Unfortunately, many FemAging Tech innovations are not currently meeting older women’s most vital physical, mental, and sexual health needs. Globally, FemAging Tech solutions have received an estimated $445 million in funding.

The FemAging in the COVID-19 Era report illustrates how nearly one-quarter (22%) of U.S. women ages 40-65 believe the coronavirus pandemic will have a negative impact on their health and well-being today and for many years to come.

“The FemAging 2020 report reveals a tremendous missed opportunity in women’s health. We learned that older women of all backgrounds are clamoring for products and services that truly meet their most vital and sensitive health, wellness, and well-being needs,” said Denise Pines, founder of WisePause and co-author of the report. “I’m hopeful the report will help spark a groundswell of global innovation, business initiatives, and investment in solutions uniquely tailored for women ages 40+ and recognized the needs of women of color.”

FemAging 2020 also features new research from the FemAging 2020 Index, a nationally representative survey of 1,000 U.S. women between the ages of 40 and 65 that provides unique data about women’s most critical health and wellness needs as well as the features they want most from products and services. The FemAging 2020 Index also includes insights about women of color, a population that is often underrepresented in innovation research.

FemAging 2020 also reveals twenty companies that are successfully developing innovations that are helping to meet the unique needs of older women. The FemAging Tech 20 includes Private Packs, founded by a Black female to support vaginal health, one of the top concerns African Americans have as they age.

“Unfortunately, women ages 40+ have been largely overlooked when it comes to developing innovative and relevant health products and services. Our reports provide a roadmap that companies, entrepreneurs, investors, and others can follow to deliver much-needed solutions,” said Fard Johnmar, digital health futurist, co-author of the report and founder of the innovation consultancy Enspektos, LLC.

FemAging 2020 also reveals:

African American Are More Concerned About Healthy Aging

While more than half (55%) of FemAging Index respondents say they have a significant or very high concern about their ability to stay healthy, active, and independent as they age:

• African American women are 11% more likely to report being concerned about their healthy aging prospects

The Menopause Treatment Gap

Menopause has a significant impact on the quality of life of women between the ages of 40 to 65, especially when it comes to managing symptoms such as hot flashes, night sweats, and fatigue.

Yet, only eight percent of women currently experiencing menopause symptoms are receiving treatment. And, treatment rates are even lower among women of color:

• 5% of 40+ African American women with menopause symptoms are in treatment

FemAging Tech Products Are Missing Features African American Need

We learned that while more than half of FemAging Tech innovations target women of color (i.e., they are featured in marketing, imagery or cater to their specific cultural needs), many of these solutions are not offering features they want most. For example:

• 42% of African Americans are interested in stress/anxiety solutions, but only 1% of FemAging Tech products targeting women of color feature them

Women of Color Rate Incontinence and Sexual Health As Key Issues

In the FemAging Index, we asked older women to tell us about the health and well-being issues they feel are most important to manage. Among women of color:

• 26% of African American women say managing incontinence is vital versus 17% of Hispanics

For more information about the report, please visit www.femaging.com.


FemAging Index Methodology:

The FemAging Index, which is featured in FemAging 2020, was conducted by Wakefield Research, an independent research firm. Wakefield surveyed 1,000 U.S. women ages 40 to 65 between October 3 and October 9, 2019. This nationally representative survey has a margin of error of plus or minus 3.1%.

The FemAging in the COVID-19 Era study is a nationally representative online poll of 513 women ages 40 to 65 with a margin of error of plus or minus 4.3%.

WisePause is a pro-aging health and education platform designed to empower and connect women with trusted critical information, supportive community, and actionable reliable resources on the journey to midlife, menopause, and beyond. Visit www.wisepause.com to learn more.


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