Despite the broader market reeling under rising recessionary fears caused by the Fed's aggressive interest rate hikes, hospital stocks remain relatively stable due to near-inelastic demand for medical products and services. Additionally, an aging population, an increase in the prevalence of chronic diseases, and technological advancements are expected to expand the industry further.
Amid high prices and overwhelming demand, national healthcare spending in the United States is predicted to rise by $370 billion over the next five years. Moreover, according to Research and Markets, the global hospital information systems market is expected to grow at a CAGR of 8.6% until 2026.
