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With breakthrough capabilities and tech integration, state-of-the-art medical devices are expected to drive the global healthcare industry’s growth. The medical devices sector is expected to grow at a 5.2% CAGR to $671.49 billion by 2027.
Investors are bullish on the medical devices industry, as evidenced by the SPDR S&P Health Care Equipment ETF’s (XHE) 37.6% gains over the past year versus the broader SPDR S&P 500 ETF Trust’s (SPY) 33.7% returns. Thus, we think fundamentally sound stocks in this space ResMed Inc. (RMD), Alcon Inc. (ALC), Terumo Corporation (TRUMY), and West Pharmaceutical Services, Inc. (NYSE:WST), are expected to keep soaring in price.
