As we celebrate International Women’s Day, it’s crucial to spotlight an issue that not only affects women’s well-being but also has significant economic implications: the women’s health gap. A recent report by the World Economic Forum, in collaboration with the McKinsey Health Institute, reveals that closing this gap could inject at least $1 trillion into the global economy annually by 2040.
Women’s health encompasses more than just reproductive issues. It includes conditions that uniquely or disproportionately affect women, such as endometriosis, menopause, and certain autoimmune diseases. Despite their prevalence, these conditions have historically been under-researched and underfunded.
The report highlights that women spend 25% more of their lives in poor health compared to men. This disparity not only diminishes women’s quality of life but also their ability to participate fully in the workforce. Addressing the women’s health gap could lead to healthier lives for 3.9 billion women and increase their economic productivity.
Investment in women’s health is lacking. For example, despite the significant impact of endometriosis and menopause on women’s lives and work productivity, research and funding for these conditions are minimal compared to diseases like cancer. This underinvestment is a missed opportunity for both improving women’s lives and boosting global economies.
The report calls for a multi-faceted approach to close the women’s health gap. This includes investing in women-centric research, enhancing access to gender-specific care, and developing new financing models for women’s health innovation. It also emphasizes the importance of collecting and analyzing sex- and gender-specific data to better understand and address women’s health needs.
As we move forward, it’s essential for leaders in public, social, and private sectors to prioritize women’s health. Not only is it a matter of equity and justice, but it’s also a smart economic strategy. By investing in women’s health, we can improve lives, strengthen communities, and unlock a trillion-dollar opportunity for global economies.