No. Traditional grip size labels were created many years ago, when the average woman’s hand was smaller than it is today.
For this reason, every golfer — regardless of gender — should choose a grip size that fits their own hand. For some women the “ladies” size will be appropriate, but more and more of them feel more comfortable with a “standard” grip.
Fortunately, taking the correct measurement is very simple. Instructions for choosing the right grip can be found in the Grip Fitting section.