Closing the women's health gap boosts productivity, workforce participation, and national prosperity
Canada could unlock more than $37bn in additional annual GDP by 2040 simply by closing the women’s health gap, according to new analysis from the McKinsey Health Institute.
The report, leveraged by Women’s Health Collective Canada (WHCC) and Desjardins Insurance, underscores that investing in women’s health is not just a matter of equity, but a strategic economic imperative.
As reported by the McKinsey Health Institute, women in Canada spend 24 percent more of their lives in poor health than men, often during their most productive working years.
This disparity translates into lost productivity, shorter working lives, and wider inequities, with 75 percent of the economic impact stemming from reduced workforce participation and productivity between ages 20 and 70.
Key contributors to this gap include cancer, heart disease, migraines, mental health conditions, and musculoskeletal diseases.
Amy Flood, executive director of WHCC, highlights that “countries, communities, and families are only as healthy as the women within them,” emphasizing that investing in women’s health is foundational for a stronger, fairer, and healthier nation.
Desjardins Insurance, Hologic Canada, and Organon Canada are supporting this call to action.
Chantal Gagné of Desjardins Insurance notes the importance of supporting women’s health, well-being, and financial confidence at every stage of life.
Isabelle Fortier of Hologic Canada stresses that “policy and innovation must work together — streamlining reimbursement and research funding — to ensure access to quality care.”
Meanwhile, Geneviève Gauthier of Organon Canada points out that only 5 percent of global pharmaceutical R&D investment is directed towards women’s health, and just 1 percent when excluding cancer-related conditions, highlighting a significant gap in research and innovation.
The McKinsey Health Institute report suggests that closing the women’s health gap could result in seven more healthy days per year for every Canadian woman, improving quality of life while delivering measurable economic benefits.
As per WHCC and its partners, empowering women with knowledge and access to care is not only a matter of social responsibility but a smart investment in Canada’s future prosperity.
