15-05-2025
The Multibillion-Dollar Market Corporate America Is Missing Out On
Women's health sectors encompass a $360 billion ghost market in the U.S.
Investors are overlooking a multibillion-dollar market, and no, it isn't crypto or AI. Amboy Street Ventures' recent 'Ghost Market Report' uncovered an untapped market for women's health, and it's worth $360 billion.
According to Amboy Street Ventures—a venture capital fund focused on women's health—this multibillion-dollar figure accounts for 'ghost markets,' or markets that don't yet exist within the sphere of women's health. The report indicates several categories in which women's health remains underserved and notes that, if these areas had more investment and support, they'd be sectors worth billions of dollars. These categories comprise key healthcare needs for women, such as menopause, healthy aging, sexual health, menstruation, contraception, LGBTQ+ health, maternal health and fertility.
This research not only identifies a major investment opportunity in women's health, but also a significant gap between the care women need and the services currently available to them. A Deloitte analysis found that, while women require nearly 10% more health care services than men, only about 4% of biopharma research and development spending goes toward conditions specific to women. And last month, a landmark Women's Health Initiative (WHI) study examining age-related factors for women's health was nearly defunded. If women's health lacks sufficient research, it may stymie the development of emerging market opportunities identified in Amboy Street Ventures' report.
Recently announced tariffs could also slow progress for the prospective multibillion-dollar women's health market. An analysis from the American Journal of Managed Care (AJMC) found that the tariffs are predicted to increase the costs and shortages of medical supplies imported to the U.S. Consequently, tariffs may make medical supplies more expensive and harder to obtain for American businesses, including those focused on women's healthcare. They could also create barriers to profitable sectors in areas like menopause, fertility, aging, maternal health and other unmet market needs outlined in the 'Ghost Market Report.'
Despite ongoing challenges, promising paths that promote stronger investment and progress in women's health are being forged. Last month, the Milken Institute announced in a press release that it will be launching a Women's Health Network to 'collate, elevate, and advance existing and new efforts across the women's health ecosystem.' Chaired by former first lady Jill Biden, the network aims to collaborate alongside research institutions, startups, businesses, investors, policymakers, philanthropists and communities to promote women's health initiatives. Efforts like those of the Milken Institute and Dr. Biden will be essential in creating more spaces, networks and investment opportunities within women's health.
The multibillion-dollar women's health ghost markets could also offer opportunities for career mobility for women care workers. As previously reported, women make up the majority of workers in the healthcare sector. Yet women continue to be underrepresented in the industry's leadership roles, with men dominating the majority of the highest-paid healthcare jobs. By setting their sights on entrepreneurship and addressing unmet needs within women's health, women in healthcare can create opportunities for themselves to not only lead companies, but entire new sectors with incredible financial promise.
Women's health isn't only an astronomical economic opportunity. As the 'Ghost Market Report' states, it's also 'a moral imperative.' Amboy Street Ventures' research makes clear that empowering women's health companies in underserved categories would not only create a multibillion-dollar market but would effectively 'create equitable systems of care' and 'improve health outcomes for millions.'
Now is the time to create the accelerators, networks, funds and new businesses that support major areas still missing in women's healthcare. After all, investing in women's health goes beyond financial rewards, it supports the lives and wellbeing of half of the world's population.
