PRIORITIZING WOMEN’S HEALTH

WOMEN’S HEALTH IS NECESSARY – NOT NICHE

Women constitute 50% of the population, make 80% of healthcare purchasing decisions, and give birth to 100% of the population. They are the chief medical officers of the home. Yet, women’s digital health (femtech) receives only 3% of total digital health funding.

THE PROBLEM

Healthcare was never designed for women. From the exclusion of women in clinical trials until 1993 to the allocation of less than 4% of healthcare research and development dollars to women’s health, it’s undeniable that healthcare has long perceived women as “small” men differing only in their reproductive organs. Here’s how that has significantly harmed women to date:

Later Diagnoses (Or No Diagnoses At All)

  • Multiple femtech and women’s health startups have now achieved unicorn status.
  • Some illnesses take on average 7-10 years to diagnose for women.
  • For every 1 woman diagnosed with a women’s health condition, roughly 4 go undiagnosed. The prevalence of women’s health conditions is five times that of their documented diagnosis.
  • Polycystic Ovary Syndrome (PCOS) affects up to 10% of all women, yet 75% of PCOS cases are undiagnosed.
  • 90% of women with sleep apnea go undiagnosed because they report different symptoms than men.

Poorer Health

  • Each woman will spend 9 years of her life in poor health.
  • The women’s health gap equates to 75 million years of life lost each year due to poor health and early death.
  • Women with period pain lose nearly 9 days of productivity each year.

Limited Understanding of the Female Body

  • Women are 60% more likely to have an adverse reaction to prescription drugs. A GAO audit found that 8 out of 10 drugs withdrawn from the market caused adverse effects more often in women than man. Since 1980, drugs were 3.5 times more likely to be removed from the market after approval because of safety risks for women compared with men.
  • Women have a 20% higher chance of developing heart failure or dying within 5 years after their first heart attack than men.
  • 70% of individuals affected by chronic pain conditions are women; yet 80% of pain research is conducted on men.
  • Although 2/3rds of people with Alzheimer’s disease are women, 66% of Alzheimer’s research subjects are male.

Economic Consequences

  • Women collectively spend $500 billion per year on medical expenses.
  • Maternal mortality results in $6.6 billion in productivity losses each year.
  • Women with endometriosis have 3x higher healthcare costs on average. Approximately half of women with endometriosis reported earning less money because of the impact of their symptoms.
  • Menopause care costs employers $27 billion annually, with $1.8 billion in lost working time.
  • Women constitute nearly 80% of people with autoimmune diseases and more than $80 billion is spent annually on autoimmune condition management for women.
  • Twice as many women as men suffer from depression in the U.S., and it is the leading cause of disability in women. Lost productivity due to anxiety and depression is valued at $1 trillion.
  • 20% of reproductive aged women have multiple chronic conditions, contributing significantly to the $3.15 trillion annual spending on care for chronic conditions.
  • If all working women in the U.S. could not work for a single day because of their health, the U.S. would lose $21 billion in GDP.

THE POTENTIAL

Despite the current state of women’s health, the female health industry has significant potential. Women are the Chief Medical Officers of the home, responsible for 80% of all healthcare decisions and spending. Healthcare spending for women ages 18 to 44 is 84% higher than their male counterparts, and healthcare spending for women ages 44 to 64 is 24% higher than their male counterparts. Women are 76% more likely than men to have visited a doctor within the past year, and even pick up 70% of prescriptions at drugstores. These continuous touchpoints with the healthcare system should enhance women’s health outcomes, not detract from them. Yet the cost of being a woman in our society and health system today is high. Failing to prioritize and fund women’s health leaves significant money on the table and forces women to endure poorer health outcomes that can be prevented. Here’s why investment in women’s health needs to happen today.
  • The Market Size for Women’s Health is Estimated to be $1.186 Trillion by 2027.
  • Investing $300 Million in Women’s Health Research Will Produce$13 Billion in Returns for the U.S. Economy.
  • A 0.1% Improvement in Rheumatoid Arthritis Can Reduce Disease Costs by $10.5 Billion Over 30 Years and Produce a 174,000% Return on Investment.
  • A 0.01% Improvement in Coronary Artery Disease Yields the Equivalent of 8,000 Years of Work for Women and Can Reduce Disease Costs by $1.9 Billion Over 30 Years, Producing a 9,500% Return on Investment.
  • By 2035, 1 billion women will enter menopause, presenting a $600 billion opportunity for businesses in biotech, healthcare, beauty, and wellness.

UNITING FOR WOMEN’S HEALTH

The health and economic benefits that arise from prioritizing women’s health are undeniable. But such benefits will not be realized unless women across the globe unite to demand the advancement of female health from a traditional patriarchal healthcare system. The power of a united voice to spur innovation, funding, and radical change in women’s health is essential to transforming the landscape of gendered and siloed healthcare.

The FemHealth Festival will be the largest consumer-focused women’s health event, with a global reach that unites women worldwide in the campaign for better healthcare. This festival, spearheaded by FemInnovation and HeartSnug, is designed to bring together the entire women’s health ecosystem to drive meaningful change and advancement in women’s health outcomes while prioritizing key initiatives that have the power to revolutionize the landscape of women’s health. By fostering key collaboration, connections, and education amongst women’s health stakeholders, the FemHealth Festival will help all women – including those who identify as female and those who have been disenfranchised – reclaim their right to care that is patient-centered, equitable, and evidence-based.

Join us at the inaugural FemHealth Festival to be part of this incredible movement and culture shift that will change the trajectory of women’s health!

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