Key Women’s Healthcare Industry Statistics
80%
of women’s healthcare providers report they lack menopausal health training. Meanwhile only 1/4 of women who experience menopausal symptoms seek care.
~50%
of U.S. counties lack a single OB/GYN and only 16% of OB/GYNs in the U.S. are under 40 years old. Analysts project a shortage of +3,000 OB/GYNs by 2030*.
89%
of women aged 19-64 had health insurance coverage in 2021.
9 Years
is the average amount of time a woman will spend in poor health — 25% more time than men**.
+213
The number of hospitals that have closed their labor and delivery departments since 2011. 13 were announced in 2023 alone***.
* IBIS, Gynecologists & Obstetricians; ** McKinsey Health Institute, Closing the Women’s Health Gap; *** Chartis, February 2023, Rural Health Safety Net Under Renewed Pressure as Pandemic Fades
Women’s Healthcare Industry Overview
Demographic and societal trends have had a profound affect on the US women’s healthcare market. The global women’s health market represents nearly $41.5 billion as of 2022, and is expected to grow over 5% per annum through 2030 (1). The U.S. women’s healthcare services market is poised for substantial growth and transformation, heightened awareness of unique health issues, expanding access to health insurance and technological advancements. Even though 80% of healthcare spending decisions are influenced by women, only 2% of healthcare R&D is in female-specific conditions.
Key Trends
- Shift towards Non-Reproductive Health: While reproductive health remains a crucial area of focus, there is a notable shift towards care focused on women’s mental health, gut and pelvic health, and menopause.
- Tech Growth in Women’s Health: AI expanding use in mammography, preventative health and even in-vitro fertilization. By 2025, the global “FemTech” industry (software and technology addressing women’s biological needs) is expected to grow to $75B (13.3% CAGR since 2020).*
- Emergence of Value-Based Care: The transition towards value-based care models is gaining momentum, but slowly. The need for data-driven approaches to improve patient outcomes and reduce costs is well recognized with 41 states implementing incentives for improved maternity health.
- Demand/Supply Imbalance:
- The trend of later-aged pregnancies, with the average age rising from 23.7 in 1985 to 29.6 in 2024, is leading to increased inherent risks and a greater need for physician oversight.
- The shortage of OB/GYNs is becoming critical, with the number of physicians expected to decline by 7% while the demand for their services is projected to increase by 4% by 2030.**
- The fastest growing cohort of women are those aged over 65, and by 2050 this group will grow by 81%***, adding pressure to the healthcare industry.
*McGuireWoods, Transaction and Regulatory Concerns for Women’s Health and Fertility
**IBIS, Gynecologists & Obstetricians
***FTI Consulting
Modest Projected Fertility Care Growth
Revenue in Millions for U.S.-based Fertility Clinics
Source: Statista
Percentage of U.S. Women with an Ongoing Health Issue, 2022
by Age
Source: Statista
Increased M&A Interest in Women’s Healthcare
Strong investment trends, increasing clinical research activity, and accelerating socio-economic drivers suggest growth in women’s health services investment. Other factors supporting this trend include:
- Over $1.3 trillion of undeployed capital available
- Success across a variety of healthcare specialties is driving investors to evaluate women’s healthcare and ancillary services
- A highly-fragmented subsector poised for growth due to growing federal and consumer spending driven by an increased awareness regarding women-centric needs and treatments
Women’s Health – U.S. M&A Activity
Source: Pitchbook
M&A Considerations
Practice shareholders evaluating the path forward have more options than ever. Identifying the priorities for their practice, physicians and shareholders is critical. Factors to consider before exploring a potential M&A include:
- Ability drive scale to offset accelerating costs and declining reimbursement
- Capital and risk tolerance to investment in technology and business capabilities to meet emerging demands of the practice
- Ability to attracting and retaining physicians and providers
Active Private Equity Groups
Recent M&A Activity in Women’s Healthcare
Date | Target | Acquirer |
Jun-24 | Reproductive Science Center of New Jersey | Prelude Fertility |
May-24 | Mammography & Ultrasound Imaging Center | Ares Management |
Apr-24 | Dallas IVF | InTandem Capital Partners |
Apr-24 | The Woman’s Group | Femwell Group Health |
Apr-24 | Fertility & Surgical Associates of California | Sverica Capital Management |
Feb-24 | Fertility Specialists of Texas | Sverica Capital Management |
Feb-24 | Pozitivf Fertility | MonCap |
Feb-24 | Fertility Solutions | Fertility Centers of New England |
Jan-24 | Mission Obstetrics & Gynecology | Resolute Capital Partners |
Jan-24 | US Fertility | Revelation Partners |
Select Transactions
