The healthcare sector is expected to continue thriving with the relatively inelastic demand for healthcare products and services, along with a growing aging population. Furthermore, with the increasing integration of advanced technologies in the healthcare space, the industry could generate significant returns in the coming months. According to an IndustryResearchBiz report, the global pharma and healthcare market is expected to hit $1.58 trillion by 2027.
So, we think it could be wise to bet on quality healthcare stocks Thermo Fisher Scientific Inc. (NYSE:TMO), Novartis AG (NVS), and Medtronic plc (MDT) because they have immense growth potential. Also, these stocks have an A or B rating for Growth in our POWR Ratings system.