The Gates Foundation on Monday committed $2.5 billion by 2030 exclusively on women's health to spur innovation in long overlooked conditions such as menopause and gestational diabetes.

This investment marks the largest that the foundation has ever spent in women's health research and development.

It will focus on advancing more than 40 innovative projects across five areas, namely, obstetric care and maternal immunization, maternal health and nutrition, gynecological and menstrual health, contraceptive innovation and sexually transmitted infections.

Potential research breakthroughs could be made in vaginal microbiome, first-in-class therapeutics for preeclampsia and nonhormonal contraception.

"For too long, women have suffered from health conditions that are misunderstood, misdiagnosed or ignored," said Anita Zaidi, president of the foundation's gender equality division.

"We want this investment to spark a new era of women-centered innovation — one where women's lives, bodies and voices are prioritized in health research and development," she said.

Bill Gates, the foundation chair, said that investing in women's health creates a lasting impact, fostering healthier families, stronger economies, and a more equitable world.

"Yet women's health continues to be ignored, underfunded and sidelined. Too many women still die from preventable causes or live in poor health. That must change," he said.

Research shows that every $1 invested in women's health yields $3 in economic growth. Closing the gender health gap could also boost the global economy by $1 trillion per year by 2040, according to data cited by the foundation.

The foundation announced in May that it plans to spend $200 billion over the next two decades and cease operations by 2045.