The not-so-obvious trends in Asia

We dive into the trends that are booming in Asia [Read from your browser]( Emerging Trends Good morning {NAME} We’re dropping a surprise today! This is the first edition of our brand-new monthly newsletter that will help you discover the next (but not-so-obvious) big thing in Asia. In this series, we aim to uncover the early signs of new or changing user behavior, nascent industries, and under-the-radar companies doing cool things. What we’re not going to do is make you go, duh by pointing out the obvious shifts in tech like teleconferencing, virtual events, and ecommerce. With this information, we hope to keep our community one step ahead of everyone else 😉 and encourage aspiring founders to jumpstart their entrepreneurship journey. Emerging Trends will hit your inbox at 10 a.m. every third Thursday of the month. As a free Tech in Asia user, you will receive one out of three trends that we’ll uncover monthly. Each trend comes with a summary of what this development is all about, a chart depicting the growth trajectory, and potential areas to look at. If you would like to receive the full issue with all three trends, join us as a [premium subscriber](. To kick things off, we’ve unlocked the second trend for you in today’s edition. Once you’re subscribed, you can read the complete issue [with the third trend here](. TREND #1 Telehealth for sexual health Telehealth has been touted as the [future of healthcare]( in Asia Pacific, offering affordable healthcare that isn’t accessible to many people in the region. Beyond just providing medical advice, the “tele” aspect of telehealth means that people are more comfortable consulting doctors on topics typically considered taboo, such as mental well-being and sex. In particular, telemedicine has enabled women to seek advice on their reproductive and sexual health, helping address [some of the barriers]( they face when it comes to getting birth control, such as cost, inconvenience, and [social stigma](. Additionally, telemedicine eases the stigma around other aspects of sexual health, such as testing for sexually transmitted diseases (STIs). Current landscape The global telehealth market for women's reproductive and sexual health is expected to reach [US$215.7 million in revenue]( by 2027, and the Asia-Pacific region is expected to see a compound annual growth rate of 18% over the same period. In Singapore, several companies are tapping into this potential. Ferne Health provides home-based self-test kits that screen for cervical cancer and common STIs, with a primary focus on women. Ease and Dear Doc enable women to purchase contraceptives and STI tests discreetly and conveniently, while also offering remote consultations with doctors. Some areas to keep an eye on are: - Not just about the body: Sexual health isn’t just about physical issues; there’s also a psychological dimension to it. Sexual dysfunction can be pretty detrimental to one’s quality of life, but it’s not something that’s discussed much or openly due to the stigma and shame around the topic, especially [in Asia](. But that also opens up an opportunity, and Texas-based Rosy can serve as a point of reference. The company, which provides education and resources for women with low sexual desire, [raised US$1 million]( in seed funding last year. - And gentlemen: Telehealth services for women’s sexual health is just the beginning. Men face sexual health issues of their own, but they’re usually reluctant to bring it up with their doctors because of embarrassment. Singapore-based digital clinic Noah, which enables men to seek treatment for highly sensitive conditions such as ED, currently has [6,000 users]( on its platform. - Sex Education: No, not the Netflix show. It’s all well and good that people have access to contraception and other sexual health services online, but the [lack of knowledge]( about sex among individuals remains a major barrier. And with the state of in-person sex education in Asia-Pacific leaving [much]( [to be]( [desired]( there’s definitely [room]( for digital sexuality education to improve and ensure that younger generations have control over their reproductive and sexual health. TREND #2 Freelancing boom Remember when YouTube star PewDiePie bought a controversial video shout-out from a freelancing marketplace and was consequently [dropped]( by his advertising network Disney? The platform in question is Fiverr, and it used to have the wildest freelancing gigs, from [posting fake reviews]( on Amazon to casting a love spell on someone. Fiverr isn’t new; it has been around since 2010. But since Covid-19 hit last year and dealt a heavy blow to employment, the Israeli freelancer marketplace is seeing renewed interest. For example, in Indonesia, [14.2%]( of the country’s workforce was affected. Freelancing offers an alternative source of income for the unemployed or individuals who took a pay cut. In an Upwork report, [12% of the US workforce]( started freelancing due to the pandemic. On top of income opportunities, companies could also be using freelancing platforms to save on labor costs. According to a 2018 report by KellyOCG, a talent outsourcing and consultancy group, [43%]( of global organizations that hired freelancers said they had saved at least 20% in manpower costs. Current landscape The freelancing or gig industry’s global total market size is estimated to be at [US$1.5 trillion]( with around 77 million formally identified freelancers at present. While the gig space seems rather crowded with popular platforms like Fiverr, Upwork, and Freelancer.com, new startups targeting this industry continue to sprout and secure funding. In Southeast Asia, Bangkok-based Fastwork, which cited Upwork as its inspiration, raised [US$4.8 million]( in 2018. Some areas to keep an eye on are: - Riches in the niches: You might have heard of the phrase, “[the unbundling of Craigslist]( a move in which a new startup zeroes in on a specific vertical of a well-known platform and aims to better address the needs of the users in that vertical. So there could be opportunities in unbundling Fiverr or Upwork and targeting a particular vertical. Case in point: Malt, a French freelancer platform just for engineers, raised a whopping [US$28.6 million]( in 2019. On the creative side, Australia-based DesignCrowd helps designers find freelance jobs and has raised a total of [US$12 million](. - Dealing with the moolah: Freelancing makes it possible to work for a US-based client even when you’re based in Singapore (if you don’t mind having virtual meetings at 9 a.m., that is). But the problem comes when your paycheck is reduced due to cross-border transaction charges or foreign transaction fees. New York-based startup Lili is building an all-in-one banking app for freelance workers - minus the fees - and has raised a total of [US$25 million]( last year. - More time, more money: While Lili is helping freelancers manage their finances, Swedish fintech startup Willa is handling another problem: Saving gig workers from performing administrative tasks. The company raised [US$3 million]( last year to automate client communication and payment process. Estonia-based Xolo is on the same page: Its online platform offers services including business set-up, accounting, and compliance so that users can start freelancing on day one. The startup raised [US$6.8 million]( in 2019. TREND #3 To access the third trend, you have to be a premium subscriber - just [sign up here](. Once you’re subscribed, you can read the [complete issue](. Thanks for reading! Did you enjoy today's Emerging Trends? [Yes]( | [No]( Today’s edition was written by Betty Chum, Stefanie Yeo and Doris Yu. It’s edited by Eileen C. Ang. P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Was this forwarded to you? You can read this everyday when you sign up [here](. Don't want to receive these emails anymore? [Unsubscribe](. Copyright © 2021 Tech in Asia, All rights reserved. 51 Bras Basah Rd, #05-5061, Singapore 189554