Why investing in female healthcare affects everyone

This year, our International Women's Day theme is the gender health gap. Why is that still an issue today?

Until 1993, women were largely excluded from medical and clinical research, resulting in a lack of data on how diseases and treatments specifically affect women. This changed with the introduction of the NIH Revitalisation Act (1993), which made it mandatory to include women and minorities in clinical trials.

While this was a step in the right direction, it is not enough. However, studies show that even when women are included, the data are often not analysed for gender-specific differences, leading to continued misdiagnosis and inadequately treated health problems.

Why have women not been included in studies for so long?

The historical exclusion of women from medical research was based on several factors: hormonal fluctuations in women were seen as complicating research findings and there were concerns about protecting fertility. Moreover, it was often assumed that medical treatments in men would have the same effects in women.

Studies form the basis of medical care and treatments. Obviously, the exclusion of women from these studies has consequences. What kind of numbers are at stake?

The consequences are indeed significant. These studies have led to a lack of gender-specific data, leading to many medications being tested primarily on men. As a result, women experience side effects from medications almost twice as often as men do. Even with common medications like aspirin and antidepressants.

There are also conditions where women face diagnostic delays. For diseases such as cancer, this delay can be up to 2.5 years, while diabetes may go unrecognised for up to 4.5 years. During a heart attack, women are up to seven times more likely to be misdiagnosed and sent home without treatment.

That has huge implications for women's well-being it seems to me.

The impact of this health inequality is indeed huge. As a result, women spend on average 25% more of their lives in poor health compared to men, which in turn leads to a significant loss in quality of life and productivity.

Women are often the main caregivers in families, meaning that poor health affects not only them but also their families, as their ability to care for others becomes limited. The gender health gap therefore not only causes lost years of good health for women, but also leads to significant economic losses for families and society.

We are not talking about a niche group here, but about half the world's population; around 3.5 billion people. What does the economic picture look like?

Studies estimate that annual economic losses due to this gender health gap amount to billions worldwide. Investment of USD 1 in women's health can add an estimated USD 3 in economic growth. According to McKinsey, addressing the gender health gap could increase the global economy by USD 1 trillion by 2040 . Therefore, it is crucial to improve women's quality of life while simultaneously realising economic benefits.

In 1993, it became mandatory to include women in medical research. What are the latest developments?

The World Economic Forum meeting in Davos, Switzerland, last year, highlighted the economic and social impact of the women's health gap. Initiatives such as the creation of the Global Alliance for Women's Health are bringing together different sectors to invest in women's health. This platform has now received USD 55 million in financial commitments to promote innovative models of care and gender-specific treatments. The initiative aims to add USD 1 billion to the global economy by 2040 to close the gender health gap.

For business, there are huge opportunities here. Do they see them?

Absolutely! Several companies are playing a role in advancing healthcare solutions specifically aimed at addressing women's health issues. Companies such as Hologic, Bayer, AbbVie, Pfizer and Merck are working on innovative treatments and diagnostics tailored to female healthcare. For example, Hologic focuses on breast cancer research. The company was instrumental in the development of the more female-friendly 3D mammography (Tomosynthesis), which allows better detection of breast cancer. And it also prevents unnecessary extra examinations.

Improving women's healthcare is both a moral obligation and an economic necessity. Governments and companies are taking steps in this regard. By investing in gender-specific research and policy change, we can not only improve women's quality of life, but also realise significant economic benefits. Investors can contribute to this by, for example, investing in companies that focus specifically on female healthcare.

¹ Source: Exploring the gap in women's health care issues | McKinsey

² Source: Closing the women's health gap | McKinsey