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According to the Deloitte 2021 Global Healthcare Outlook, the industry’s GDP share should average 10.3% in 2021 and 2022. An aging population, rapid clinical and technology advances, and continued healthcare spending should drive the industry’s growth. Consequently, the global healthcare and pharma market is expected to reach $1.58 trillion by 2027, registering a 4% CAGR.
Hence, Wall Street analysts expect quality health care stocks Viatris Inc. (VTRS), and Zai Lab Limited (ZLAB) to rally by 50% or more in the coming months.
