Investment in Women’s Health reached US$2.6bn in 2024, shows new report

Venture capital investment in women’s health startups has experienced significant growth in recent years, with funding reaching new heights in 2024 according to the latest report from Silicon Valley Bank (SVB).

According to SVB’s 2025 Innovation in Women’s Health Report, women’s health investment hit US$2.6bn last year, surpassing 2023’s total by nearly US$1bn. When including funding for related diseases that affect women differently or disproportionately, total investment in the sector rose to US$10.7bn.

“Investment in women’s health continues to reach new milestones, driven by a growing recognition of the ways in which health conditions impact women differently,” said Raysa Bousleiman, co-author of the report and senior vice president for Investor Coverage in Life Science and Healthcare at SVB.

“While 2025 may present challenges, the long-term potential of the sector is clear, and we expect continued investment focused on addressing the unmet healthcare needs for women.”

The report found that increased awareness is fuelling investment, with the women’s health sector seeing a 55 per cent increase in VC investment, outpacing growth in the broader healthcare industry.

It also found that, as the women’s health sector evolves, it is increasingly diversified, following in the footsteps of the wider healthcare industry. Investment in healthtech solutions dropped from 54 per cent in 2021 to 38 per cent in 2024, while biopharma investment surged to 34 per cent, up from just 12 per cent in 2021.

In 2023, seed and Series A deals made up 83 per cent of women’s health investments, compared to 72 per cent in the overall healthcare space, the report found. The gap narrowed in 2024, with seed and Series A deals representing 70 per cent and 67 per cent, respectively, of total deals in each sector.

Further, the report reveals that precision medicine and personalised health are taking centre stage, with funding flooding into early-stage startups focused on filling gaps in clinical pathway guidelines for women’s health.

In 2024, VC investment in precision medical startups totalled US$3.6bn, up from US$1.4bn in 2023.

The report also found that exits remain a challenge but potential is growing. The lack of exits in women’s health has raised concerns about the sector’s potential, with investors noting difficulty in finding comparable companies and doubts about large returns.

However, recent IPOs and M&A activity in related areas suggest that women’s health could help break the exit logjam in the broader healthcare market.