With economic growth and advancements in healthcare infrastructure, the medical sector is strategically poised to harness new prospects. It is currently undergoing significant transformation, with notable technological strides.
So, investors could consider investing in top medical stocks McKesson Corporation (MCK – Get Rating), Encompass Health Corporation (EHC – Get Rating), and USANA Health Sciences, Inc. (USNA – Get Rating) to strengthen their portfolio.
Healthcare is undergoing a transformation, supported by rising medical expenditures over the past few decades. As health consciousness and profitability prospects increase, the healthcare industry is expected to stay buoyed. The global healthcare services market is expected to reach $21.06 trillion by 2030, exhibiting an 8.3% CAGR.
The growing need for better patient care and rising novel technologies used in patient care, amid chronic diseases taking a rising toll on lives, is anticipated to be the main driving force of hospital facilities. The size of the U.S. hospital facilities market is anticipated to expand at a CAGR of 7.7% from 2023 to 2030.
Furthermore, with the significant involvement of technology and diagnostics in modern healthcare, the global medical devices market is anticipated to achieve a revenue of $471.80 billion in 2023. The industry is forecasted to expand at a CAGR of 5.3% to reach $609.70 billion by 2028.
Considering these conducive trends, let’s examine the fundamentals of the three medical stock picks.
McKesson Corporation (MCK – Get Rating)
MCK is a global healthcare services company with segments in pharmaceutical distribution, technology solutions, medical-surgical supply, and…
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