The ongoing integration of advanced technologies and significant breakthroughs therein, along with rising capital investments and an aging population, make the healthcare industry’s prospects bright. Therefore, we think quality healthcare stocks GlaxoSmithKline (NYSE:GSK), Zoetis (ZTS), Mettler-Toledo (NYSE:MTD), and Smith & Nephew (SNN) could be ideal bets now. Read on.In addition to playing a major role in helping the world fight the COVID-19 pandemic, the healthcare industry is making solid progress in addressing the rising health issues faced by an aging global population. The integration of advanced technologies and rising capital inflows should drive the industry’s growth this year and beyond. Indeed, the global healthcare distribution market is expected to grow at 20.2% CAGR to $3.20 trillion by 2027.
Investors’ interest in the industry is evidenced by the Health Care Select Sector SPDR ETF’s (XLV) 6.3% gains over the past three months versus the SPDR S&P 500 Trust ETF (SPY) 5.3% returns. And, given the near inelastic demand for healthcare products and services, betting on fundamentally sound healthcare stocks could help to hedge one’s portfolio against a possible market correction in the near term.
Therefore, we think it could be wise to bet on quality healthcare stocks GlaxoSmithKline plc (GSK), Zoetis Inc . (NYSE:ZTS), Mettler-Toledo International Inc . (MTD), and Smith & Nephew plc (SNN) now.