According to a new survey, the healthcare industry is expected to rise in the next years. According to Deloitte, healthcare spending is expected to grow at a CAGR of 3.9 percent between 2020 and 2024. The consultant firm published the study. The Russell 3000 Healthcare Index grew 19.3 percent in 2020, indicating that the healthcare sector remained strong. According to Deloitte & Company, 65 percent of EU doctors have indicated a shift toward digital innovation in their workplaces. Connected health gadgets and 5G-enabled equipment are also becoming increasingly popular. In the last six months, CVS stock has increased by 23%. Through 2021, CVS Health Corporation will have vaccinated over 6.5 million people. Pfizer generated $3.5 billion in revenue from vaccines in the first quarter of 2021.
Insider Monkey compiled a list of the 15 best medical stocks to invest in. On the list of the best medical stocks to invest in, Vertex Pharmaceuticals Incorporated is ranked fifteenth. The firm was established in 1989 and is based in Boston, Massachusetts. In the first quarter of 2021, it made over $1.7 billion in revenue. Sanofi is a biopharmaceutical corporation established in Paris. The corporation employs over 100,000 people in over 100 countries around the world. Sanofi earned $0.73 per share in the first quarter of 2021, generating $8.8 billion in revenue. Novavax, Inc. is a biotechnology firm that specializes in the development of vaccinations for life-threatening diseases. The company’s Covid-19 vaccination has a 90 percent efficacy rate, and its stock has surged 145 percent in the last year. Teladoc Health, Inc. is ranked 12th among the top medical stocks to buy. Consumers can get virtual medical services through the New York-based telemedicine company’s innovative technology alternatives. Teladoc announced strong profitability in the first quarter of 2021, with a year-over-year increase of 151 percent. CVS Health Corporation is a pharmaceutical and healthcare firm based in the United States. For the past 50 years, the company has been in existence. CVS reported nearly $69 billion in revenue in the first quarter of 2021, up from $66 billion the previous year. On the list of the top medical stocks to buy, Medtronic Plc is ranked tenth. Over the quarter, the company produced positive results, topping the market estimate 77 percent of the time. Medtronic grew by 35% year over year in the fourth quarter of FY21. In the second quarter of FY21, Becton, Dickinson and Company generated approximately $4.8 billion in revenue. The firm has outperformed Covid-19, selling $2 billion worth of medical syringes to over 40 countries. For more details, click 15 Best Medical Stocks to Invest In.
