For years, women's health has been talked about as a social issue. But increasingly, it's being reframed as something much bigger: a major investment opportunity that has been overlooked for far too long. Despite women making up half of the global population, funding in this space has lagged behind. The result? A massive gap not just in care, but in innovation, research, and scalable solutions. And according to industry experts, closing this gap isn't just good for healthcare—it could unlock significant economic value as well.

The Investment Gap That Everyone Is Starting to Notice

A growing body of research, including insights from the Boston Consulting Group, points to a clear reality: women's health is underfunded relative to its impact.

This underinvestment isn't just about money—it's tied to deeper structural issues. Historically, research in women's health has been limited, healthcare systems are often fragmented, and many conditions affecting women are still poorly understood or underdiagnosed.

What makes this even more striking is that the opportunity is enormous. Addressing gaps in women's health could improve quality of life, reduce long-term healthcare costs, and boost workforce productivity. Yet capital is still slow to flow into the space.

Rethinking How Investment Works in Women's Health

According to Malin Frithiofsson and Maaike Steinebach, the next phase of growth in this sector depends on three key shifts:

Each of these plays a critical role in unlocking the full potential of women's health innovation.

Expanding the Investment Ecosystem

One of the biggest bottlenecks starts right at the beginning—early-stage funding.

There simply aren't enough investors, particularly women, writing the first cheques that help startups get off the ground. That's something Malin Frithiofsson is actively working to change through initiatives like "One of the Girls Has Money Now," which focuses on educating and empowering more women to participate in venture investing.

But it's not just about increasing the number of investors—it's also about improving how they understand the space.

Communities and knowledge-sharing networks are becoming essential. They allow investors to pool insights, reduce uncertainty, and make more informed decisions. In many ways, these ecosystems act as invisible infrastructure that supports smarter capital allocation.

Another important shift is broadening the definition of women's health itself. It's no longer just about reproductive care. Conditions like autoimmune diseases, cardiovascular issues, and neurological disorders—many of which disproportionately affect women—represent huge, largely untapped markets.

The Scaling Problem: Why Startups Get Stuck

While early-stage funding is a challenge, scaling is an even bigger one.

Around half of private investment in women's health companies is concentrated at the earliest stages. That means many startups struggle to move beyond initial traction.

The issue isn't a lack of ideas or demand—it's the complexity of healthcare itself.

Startups in this space often need to prove clinical effectiveness, generate long-term data, and align with healthcare reimbursement systems before they can attract larger rounds of funding. This process is slow, expensive, and difficult to navigate.

As Maaike Steinebach describes it, there's a "valley of death" between early funding and larger institutional investment. Many promising companies fall into this gap.

To solve this, experts are exploring blended funding models—combining venture capital with philanthropic funding and corporate partnerships—to support startups through this critical phase.

Why Understanding Healthcare Economics Matters

Funding alone doesn't guarantee success.

One common mistake startups make is focusing heavily on user growth without fully understanding how healthcare systems actually pay for services. Without alignment with insurers, providers, or reimbursement structures, even the most innovative solutions can struggle to generate sustainable revenue.

That's why successful companies in this space tend to prioritise:

When these elements come together, investors begin to see these startups not just as niche innovations, but as scalable healthcare businesses.

Moving Beyond Traditional ROI

Another major shift happening in women's health investment is how success is measured.

Traditional return-on-investment (ROI) metrics don't always capture the full impact of healthcare innovations—especially in areas like prevention, early diagnosis, and long-term care.

Instead, more investors are adopting a broader view of value. This includes:

For example, addressing issues like menopause symptoms, maternal complications, or autoimmune conditions doesn't just benefit patients—it can reduce absenteeism, lower insurance costs, and improve overall economic productivity.

This shift toward multi-dimensional evaluation isn't just a moral choice—it's increasingly seen as a smarter investment strategy.

A Global Conversation That's Gaining Momentum

The conversation around women's health investment is no longer niche—it's going global.

Leaders like Malin Frithiofsson and Maaike Steinebach are continuing to push this agenda forward, including at events like HIMSS26 Europe, where discussions will focus on how to bridge gaps between capital, innovation, and real-world healthcare impact.

Final Thoughts

Women's health is at a turning point.

What was once overlooked is now being recognised as one of the most promising frontiers in healthcare innovation. But unlocking its full potential requires more than just funding—it demands better infrastructure, smarter investment strategies, and a broader understanding of value.

If these pieces come together, the impact could be transformative—not just for women, but for healthcare systems, economies, and societies as a whole.