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The increasing use of technology in modern healthcare is expected to bolster the industry. Technological advances in telemedicine, digital health platforms, wearable devices, and genome sequencing, as examples, are expected to bring the cost of quality healthcare down. According to a Global Market Insights Inc. report, the healthcare artificial intelligence (AI) market is expected to reach $34.5 billion by 2027.
The aging population and advancements in the treatment of chronic diseases are also expected to spur the growth of the healthcare industry. So, considering all this, we think it could be wise to invest in mega-cap quality healthcare stocks Pfizer Inc. (NYSE:PFE), Novo Nordisk A/S (NVO), and AbbVie Inc . (NYSE:ABBV) for the rest of the year.
