After decades of neglect, women’s health research sees a ‘tipping point’

When Carolee Lee founded WHAM five years ago, she hoped to spur more investment and attention to women’s health research.

WHAM, which stands for Women’s Health Access Matters, has pushed the private and public sector to pour more money and resources into studying women’s health issues, which have been neglected for too long.

Now, Lee tells Chief Healthcare Executive® that she’s heartened to see more money going to women’s health research, including some high-profile investments.

“I think what we're starting to see is the private sector and the philanthropic sector speak more clearly to these missed opportunities in both underserved communities and women at large,” Lee says. “Women are basically underserved.”

(See part of our conversation in this video. The story continues below.)

• Read more: WHAM looks to boost young researchers in women’s health

In recent weeks, two big commitments to women’s health studies have garnered international attention. The Gates Foundation said in August that it plans to invest $2.5 billion in women’s health research over the next five years. The foundation is focusing on obstetric care, maternal health and nutrition, and sexually transmitted infections, among other areas.

Melinda French Gates announced this month that her organization, Pivotal Ventures, is partnering with Wellcome Leap to invest $100 million in women's health research. They will direct funds for studies of cardiovascular health, autoimmune disease, and mental health.

Those commitments are most welcome, and they come at a time when President Trump’s administration has been looking to scale back federal investments in medical research.

“I'd like to be very positive at this moment, because I think we need to be, and I think we do need to look at what is working,” Lee says. “And if, in fact, either the work of WHAM and others have brought to more attention the need to support these kinds of communities, people, families, that's fantastic.”

‘Look at the players’

WHAM released a report earlier this year projecting that the women’s health market will reach $30 billion by 2030. Despite the size of that market, only 2% of all venture capital funding in healthcare is directed to women’s health.

Lee points out that the lack of investments in women’s health have been perplexing since women make up over half the U.S. population, and she notes that they give birth to 100% of the population.

America continues to face struggles with maternal health, including high mortality rates compared to other nations, and too many suffering serious complications tied to pregnancy.

“The U.S. ranks very low in maternal health, as we know, and there's an opportunity now, I believe,” Lee says. “Look at the players who are starting to galvanize around these issues. … There will be a lot more money flowing now from that, from the private sector that has taken a long time to develop. This didn't happen overnight.”

Heart disease is the leading cause of death in women, according to data from the U.S. Centers for Disease Control & Prevention. Women are also far more likely to face certain diseases, including autoimmune diseases. Two of three Americans diagnosed with Alzheimer’s disease are women, according to the Alzheimer’s Association.

Lee projects more opportunities to fund research in women’s health in the coming years. By 2030, $30 trillion is going to transfer to women, giving them control of 66% of the nation’s wealth for the first time.

“This is the beginning,” Lee says. “This is a tipping point.”

“If all of a sudden women have newfound wealth, what are they spending it on? And since women are the chief medical officers for their families, you know that they're going to spend more money on themselves and their families, on their care and their families' care,” she says.

Since women make up a majority of the population, Lee points out that women’s health is not “a niche market.” In fact, she says it’s largely an “untapped market in terms of investment.”

‘Focused on the positive’

Five years ago, when WHAM was just being launched, Lee says there was much less discussion of women’s health. She’s glad to see substantial progress.

WHAM now boasts a research collaborative with more than 100 top scientists “to collect their wisdom,” Lee says.

She also points to WHAM’s investment collaborative, with multi-billion dollar firms “that are investing in companies focused on the health of women.”

While she talks about the need for more women studies and more women being enrolled in clinical trials, Lee also focuses less on fairness than on making the financial case for more investments.

“This argument has to be one, as I said earlier, of economics, and if we don't have the right data to treat, to diagnose, treat, and have healthy outcomes for women who drive a lot of the economy, this is a problem,” she says.

Lee is concerned about potential declines in federal financing for research, but she says the recent big announcements from the Gates Foundation and Melinda Gates create significant momentum and attention to women’s health. She also pointed to progress from former President Biden’s investment of about $1 billion in women’s health research.

During her conversation with Chief Healthcare Executive, Lee repeatedly stressed her optimism for the future.

“As a business person, as an entrepreneur, I think one of the things that I had to learn pretty quickly was staying focused on the positive,” Lee says.