Top 5 aktier inden for kvinders sundhed (september 2026)

Den oversete halvdel af befolkningen

Medicine has for very long been a male-dominated science and profession. This has led to women’s health issues being somewhat neglected. Even today, “Omtrent 1 % af sundhedsforskningen er investering i kvindespecifikke tilstande uden for onkologi”, og “Kvinders sundhedstilstande uden for onkologi udgør mindre end 2 % af den nuværende sundhedspipeline”.

Derudover er kvinders kroppe noget mere komplekse end mænds, med forskellige hormonelle mønstre, organer osv. Så hvad der virker for mænd, virker ikke nødvendigvis for kvinder.

Der er også et stort behov for specialiserede værktøjer, lægemidler og udstyr, såsom mammografi, fertilitetsmedicin, overgangsbehandlinger osv. Og virksomheder, der specialiserer sig i at imødekomme dette behov.

Sektoren for kvinders sundhed var værd $38 mia i 2021 og vokser igen efter et let fald under pandemien. Den forventes at vokse med et sundt CAGR på 4,9 % frem til 2030.

Kilde: Polaris Market Research

Sektoren har også fået opmærksomhed fra “big pharma”-virksomheder (Bayer, Pfizer (PFE ) osv.) med en række opkøb eller licensaftaler i de seneste år.

Top 5 aktier inden for kvinders sundhed

1. Hologic, Inc.

By far the largest women’s health company by market capitalization, partially because it is also active in the diagnostic sector in general. Still, the core of the company market is women’s diagnostics, including skeletal health and scanner systems, and a lot of the diagnostic products are related to STIs (Sexually Transmitted Infections).

Kilde: Hologic

I udstyr er brystsundhed et vigtigt segment, der dækker alle mulige medicinske behov som screening & radiologi, kirurgi, vævsanalyse (for kræft) og genoptræning.

Virksomhedens kerneprodukter vokser efter en nedtur under pandemien, mens den også har haft ekstra indtægter fra Covid-testning under pandemien, som nu aftager.

Kilde: Hologic

De fleste indtægter kommer fra diagnostik og er forbrugsvarer, hvilket betyder gentagne køb fra analyse‑laboratorier og hospitaler. Udstyret købt under pandemien, som den molekylære analyseplatform Panther, bruges nu til andre analyser, hvor 85 % af nye kunder kører mindst én anden test end Covid‑testning.

Hologic er profitabel og genererede $5 mia i fri cash flow de sidste 3 år (¼ af dens markedsværdi). Af dette frie cash flow blev $1,4 mia brugt på opkøb (6 handler) og $1,7 mia på aktietilbagekøb. Virksomheden betalte også sin gæld ned til kun $0,3 mia netto‑gæld, fra et højdepunkt på $4 mia i 2013.

Hologic er et godt valg af kvindesundheds‑aktie for investorer, der søger en finansielt solid, voksende, profitabel og veletableret virksomhed. Dens sunde cash‑flow gør det også muligt at være en serial opkøber og samle en voksende portefølje af kvinde‑fokuseret medicinsk behandlings‑ og testteknologi.

2. Evofem Biosciences, Inc.

Som en sidebemærkning, Evofem foretog en 1‑125 reverse stock split, hvilket forklarer det noget mærkelige aktiekursdiagram.

Evofem er sælger af Phexxi, en revolutionerende hormonfri præventionsmetode godkendt sommeren 2020. Den blev udviklet med støtte fra University of Illinois Chicago. Dette gør, at den primært anvendes af kvinder, der tidligere ikke ønskede eller kunne bruge andre former for prævention (ofte af medicinske årsager).

Metoden bruger en kombination af mælkesyre, citronsyre og kaliumbitartrat og giver beskyttelse mod chlamydia og gonoré. Det er også et relativt enkelt og billigt produkt at fremstille.

Da Phexxi påvirker vaginal‑pH, kan den også have andre anvendelser, især ved bakteriel vaginose (BV). Fase 2 af kliniske forsøg for denne anvendelse er nu klar. Den kan også kombineres med andre lægemidler for at skabe en Multipurpose Prevention Technology (MPT), en strategi udforsket sammen med Orion Biotechnology.

Det samlede amerikanske præventionsmarked er $8,3 mia, og Phexxi falder i kategorien af prævention, der dækkes af de fleste sundhedsplaner, så den er omkostningsfri for kvinder, ifølge en afklaring af amerikanske præventions‑adgangsrettigheder fra januar 2023.

Phexxi‑salget er steget hurtigt siden godkendelsen, hvilket afspejler kvinders stigende bevidsthed og adoption af denne løsning. Væksten fortsatte i 2023, hvor februar 2023 så 15 % flere solgte enheder end februar 2022.

Kilde: Evofem

Udover stigende indtægter arbejder Evofem på at sænke omkostningerne, kun $25 M i Q3 2022 sammenlignet med $45 M i Q3 2021.

Virksomheden sigter mod at nå cash‑flow break‑even i 2023 og at genindføre sig på større børsnoteringer (aktien handles i øjeblikket på Over‑the‑Counter (OTC) børser).

Med Phexxi‑patentet, der løber mindst til 2033, er dette en interessant niche‑enkel‑produkt‑virksomhed med en lang levetid for sin IP. Fremtidig vækst kan komme fra yderligere anvendelser (BV, MPT) og international licensering.

Investorer vil holde øje med forbedringen i cash‑flow og den fremtidige politik for cash‑redistribution. En potentiel opkøb af en større virksomhed kan også være mulig. Potentialet for indtræden af efterlignere eller nye konkurrenter bør også indregnes.

3. Daré Bioscience, Inc.

DARE Prisdiagram

The company is focusing its research efforts along a few axes, with some of the key R&D efforts being:

• Contraception.
  • Phase 3 of clinical trials initiated in mid-2023 for the 1st Hormone-free, Monthly Contraceptive in joint development with Bayer.
• Vaginal health.
  • First commercial in Q2 2023 for a  bacterial vaginosis treatment: XACIATO.
• Reproductive & sexual health + Menopause.
  • Phase 2b of the trial for a topical cream with the same active ingredient as Viagra®
• Fertility.

Kilde: Dare BiosciencesThe company-approved product, XACIATO, allowed Daré to collect a first $10M payment from Organon (OGN), the spin-off from Merck with a partial focus on women’s health (around 1/3 of its sales). Organon will license the global rights for XACIATO since juni 2022, with up to $182.5M in further milestone payments and double-digit royalties based on net sales.

The most advanced clinical trial, the monthly contraceptive Ovaprene with Bayer, could bring up to $310M to Daré.

It is a little soon to know XACIATO’s future cash flow to Daré Bioscience, and Ovaprene still needs to pass the phase 3 trials. So, this is more of a stock for investors willing to take the risk of an early-stage startup, with the lower risk of at least one product already approved by the FDA and some solid partnership for the products in development.

4. Aspira Women’s Health Inc.

Aspira is focused on ovarian cancer. The company developed OvaSuite, a blood test for ovarian cancer, to use in combination with ultrasound checkups (OvaWATCH). It tests the risk of ovarian cancer and can help determine the risks and profile of the cancer as well (Ova1Plus).

Kilde: Aspira

OvaWatch was launched in november 2022 and in 2023 got integrated into the coverage of a large national payer with 80 million people now covered for OvaWatch.

The company market is the 1+ million women diagnosed with adnexal masses (masses on the ovaries) yearly. Only 10% of the 200,000 surgeries in the US following this diagnosis are actual cancer, leading to unnecessary costs ($20,000/surgery), suffering, and serious consequences like infertility, early menopause, etc…

Kilde: Aspira

The problem of actually identifying the cancer is compounded by the risk of biopsies spreading the cancer. So, liquid biopsies, using blood tests, are a much superior diagnostic option. (You can read more about other liquid biopsy companies in our article “Best Early Cancer Detection And Liquid Biopsy Stocks (maj 2023)”).

If they reach 50% of the potential market, OvaWatch would be $225M to $281M in revenues, and Ova1Plus $38M-$56M. Expansion of the technology for monitoring could bring the revenue potential to $500M. Since 2021, revenues, margins, and sales volume have all grown by 18-23%.

Kilde: Aspira

Aspira is at an interesting point for investors looking for an approved product that markets might not have fully priced in, as it is a very under-covered niche. Not only women’s health but a very technical diagnostic for a specific cancer, which mostly brings an improved diagnosis. It’s not the most straightforward topic for most investors. It is nevertheless a considerable medical advancement and might translate into growing revenues and cash flow in the next few years.

5. Minerva Surgical, Inc.

UTRS Prisdiagram

Minerva Surgical describes itself as “The Uterine Health Company.” The company was founded to improve the treatment of Abnormal uterine bleeding (AUB). This can affect 1 out of 3 women over their life and can cause complications.

Poor care of AUB leads to unnecessary hysterectomies (ablation of the uterus), with 68% of the 400,000 hysterectomies done for benign conditions like AUB, fibroids, or endometriosis.

These unneeded hysterectomies significantly increase the risk of serious health problems, including heart failure and coronary artery disease.

Kilde: Minerva Surgical

In 2020, they acquired three additional devices for the treatment of AUB to create a full intra-uterine care kit.

The kit provides better care, direct visualization, and fewer doctor visits.

Kilde: Minerva Surgical

In Q1 2023, the company brought $12.5M in revenues, an increase of 15% from the $10.9M in Q1 2022. Operating expenses were $17.3M in Q1 2023, R&D costs $5.3M, and net loss $11.3M.

The company also did a private placement of $30M in  februar 2023., led by Accelmed, a $630M private equity firm specializing in investing in medical devices and technology.

Minerva is a company delivering a valuable product, still at an early stage of its commercial adoption. Changing the medical practices in women’s health is a rather difficult task. At the same time, the recent private placement put the company out of any short-term risk regarding liquidity and solubility.

So, this is a stock ideal for investors willing to bet that the current market capitalization does not reflect the long-term prospect of the company to change the treatment of AUB from routine use of hysterectomies to “softer” surgeries using Minerva devices.