3 Must-Own Healthcare Stocks for Your Portfolio By StockNews

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© Reuters. 3 Must-Own Healthcare Stocks for Your Portfolio

Healthcare stocks have had a steady run so far this year, with the industry’s growth prospects—based on ongoing digitization to revolutionize and increase demand—motivating investors. The industry’s solid growth prospects, along with its inflation-proof nature, should, we think, allow healthcare stocks Mettler-Toledo (NYSE:), Laboratory Corporation of America (NYSE:), and Bruker (NASDAQ:) to gain significantly in the coming months. Read on.The integration of technology into healthcare products and services is paving the way for the disruptive growth of the healthcare industry. With non-emergency services now being rescheduled because of the strong vaccination drive and gradual economic reopening, companies that manufacture analytical and diagnostic devices and solutions are generating sales growth.

Rapid digital transformation and significant capital investments should facilitate the growth of the diagnostics devices segment. The global medical devices market is expected to grow at a 5.4% CAGR over the next seven years to $657.98 billion by 2028.

Furthermore, healthcare stocks often act as a hedge against inflation, given the relatively inelastic demand for healthcare services. Therefore, we believe that amid rising inflation, popular healthcare stocks Mettler-Toledo International Inc . (MTD), Laboratory Corporation of America Holdings (LH), and Bruker Corporation (BRKR) should be valuable additions to one’s portfolio.

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