Commentary: There’s a US$3 billion opportunity if Singapore closes women's health gap

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This International Women’s Day, discussions about how to uplift women more systematically should also turn to the issue of women’s health. While foremost an issue of equity and inclusivity, there’s also an economic argument, say McKinsey’s Lucy Perez and Sachin Chaudhary.

Besides efforts to bring about gender parity in the workplace and at home, a focus on women's health is also important to uplift women more systematically. SINGAPORE: International Women’s Day is celebrated on Mar 8, but it is important not to celebrate the impact and achievement of women nor recognise the challenges they face only for one day. Much has been discussed about how to bring about gender parity in the workplace and at home, which can uplift women more systemically.

Besides women-specific illnesses, there are also conditions that do not afflict men and women in the same way. Around the world, a limited understanding of gender differences, restricted access to appropriate care, data gaps leading to the undercounting of women's health burdens and inadequate investment in health innovations contribute to the women’s health gap.

In Singapore, over two-thirds of the women's health gap affect women during their prime working years, exerting a substantial impact on Singapore's gross domestic product. The study suggested that closing this gap could inject over US$3 billion in annual incremental GDP for Singapore by 2040. This boost would stem from factors such as reduced health conditions, fewer early deaths, increased productivity and expanded workforce participation.

Currently, research and data collection fall short in addressing women's unique health needs. Only half of global studies differentiate findings by gender, with outcomes less favourable for women nearly two-thirds of the time compared to men. Without a clearer understanding of how health conditions and care may impact women differently, these disparities impact the quality of care they receive.

 

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