Due to a number of positive trends such as increased chronic disease burden and ageing populations, I believe the healthcare sector is one of the best places to invest your money with a long term view.
With that in mind, here are three very different options in the sector to consider:
Alcidion Group Ltd (ASX: ALC)
At the small side of the market you’ll find Alcidion. It is a health informatics company aiming to transform healthcare with smart, intuitive technology solutions. It offers a portfolio of software products and services that support interoperability, allow communication and task management, and deliver clinical decision support at the point of care to improve patient outcomes. One of these products is the increasingly popular Patientrack electronic observations and patient assessment solution.
Cochlear Limited (ASX: COH)
Cochlear is a company which I expect to benefit greatly from the ageing populations trend. This is because this trend is expected to drive a sustained increase in demand for cochlear implantable devices for the hearing impaired over the next couple of decades. By 2050 there are forecast to be 1.5 billion people over the aged of 65. This is almost triple the number of over 65s in 2010. Other positives include the market’s high barriers to entry, its global distribution network, and high level of investment in research and development. I expect the latter to support its position as an industry leader for a long time to come.
Paradigm Biopharmaceuticals Ltd (ASX: PAR)
Another company that could benefit from the ageing populations trend is Paradigm. It is a biopharmaceutical company which is repurposing Pentosan Polysulfate Sodium (PPS) to treat osteoarthritis. Last year it released study results which were extremely positive. If PPS does eventually become a standard of care for osteoarthritis, then Paradigm could be a real healthcare star of the future. At present there are an estimated 31 million osteoarthritis sufferers in the United States alone. This number is likely to grow strongly in the coming decades as the U.S. population ages.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Alcidion Group Ltd and Cochlear Ltd. The Motley Fool Australia has recommended Alcidion Group Ltd and Cochlear Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2020