Inequalities are expensive. According to a report by the World Economic Forum on Wednesday, January 17, it costs 1,000 billion dollars (920 billion euros) a year if women’s health is less cared for compared to men.
If women live longer than men, their quality of life is lower because both sexes are considered unequally in medical research, says this 42-page report, which is co-authored by the Swiss company Ferring Pharmaceuticals (which markets products for gynecology, among other things). McKinsey owns healthcare institute.
Closing this gap would boost the global economy by $1 trillion a year by 2040, he adds. The report comes as hundreds of business leaders and dozens of heads of state and government gather this week for the 54th meetinge World Economic Forum annual conference in the chic Alpine resort of Davos, Switzerland.
According to the report, every $1 invested in women’s health would yield $3 in growth. This is partly due to the return of sick women to the labor market.
Tackling inequalities related to endometriosis and menopause – which only affect women and have long been little researched – could contribute $130 billion to global gross domestic product (GDP) by 2040, he estimates.
The study also examined the extent to which men benefited more from treatments and diagnostics than women. Therefore, asthma inhalers are more effective in men than in women, she says.
Women are diagnosed later than men
Previous research showed that women were diagnosed 700 diseases later than men. “Investing in women’s health must be a priority for every country”said Shyam Bishen, director of the Center for Health and Healthcare at the World Economic Forum.
“In addition to improving the quality of life for women, ensuring women’s access to healthcare innovation is one of the best investments countries can make for their societies and economies.”he said in a press release.
The World Economic Forum has announced the launch of the Global Alliance for Women’s Health, investing $55 million (€50 million) to date.
