Women’s Health Report – May 2025

Women’s health is emerging as one of the most dynamic verticals within the healthcare sector, with late-stage startups gaining investor traction and increased M&A activity reflecting growing strategic interest. Despite broader volatility across venture and public markets, the segment continues to attract capital and innovation -particularly in areas historically underserved by mainstream healthcare funding.

In this latest edition of our women’s health coverage, Alantra’s global healthcare and consumer teams examine the key forces shaping the sector – from capital flows and founder profiles to transaction trends and the evolving investor landscape.

• Only ~1% of global healthcare research investment targets female-specific conditions not related to fertility

• In 2023, women’s health companies received just 2% of the $41.2B in global healthcare VC funding

• Capital is becoming more concentrated: over 60% of funding in the past year went to Series B and later-stage companies

• Female-founded teams face widening fundraising gaps, though female CEOs are outperforming in capital raising

• Many innovations remain too early-stage for acquisition, though signs of consolidation M&A have emerged

• Investor interest continues to shift from R&D-heavy platforms to businesses with commercial traction, proven unit economics, and regulatory clarity

• Strategic and financial buyers are showing increasing interest in subsegments like diagnostics, nutraceuticals, and digital therapeutics

• Outlook for H2 2025 includes rising activity in menopause care, fertility tech, and digital solutions for hormonal and mental health

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