Foreword 4

Executive summary 5

Introduction 6

1 The allocation gap: Innovation funding is limited, especially for high-burden conditions 8

1.1 Funding remains limited and highly concentrated 8

1.2 Funding gaps persist across high-burden conditions 9

1.3 Structural and geographic drivers reinforce the gap 11

1.4 Implications for women’s health innovation 11

2 The evidence gap: Women-focused validation remains underdeveloped 13

2.1 Women-focused evidence is limited and does not

consistently progress into clinical validation 13

2.2 Evidence generation is insufficient across high-burden areas 15

2.3 Research themes reveal gaps across the patient journey 17

2.4 Implications for women’s health innovation 17

3 The translation gap: Innovation does not consistently convert into scalable solutions 18

3.1 Product development remains highly concentrated 18

3.2 Development activity does not consistently translate into

market impact 18

3.3 Limited diversification of innovation across technologies

and conditions 20

3.4 Implications for women’s health innovation 20

4 System-level dynamics: How the gaps reinforce each other 21

4.1 A reinforcing cycle across the innovation pathway 21

4.2 Why the system does not self-correct 23

5 Strategic priorities to close the women’s health innovation gap 24

5.1 Improve and accelerate translation of innovation 24

5.2 Increase capital for high-burden conditions 25

5.3 Institutionalize women-focused clinical evidence 25

5.4 Diversify beyond oncology-led momentum 26

Conclusion 27

Appendix: Methodology 28

Contributors 29

Acknowledgements 29

Endnotes 31